Cambridge Investment Research Advisors Inc. Has $105,000 Holdings in LendingClub Corporation (NYSE:LC)

Cambridge Investment Research Advisors Inc. cut its holdings in shares of LendingClub Corporation (NYSE:LC) by 30.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,191 shares of the credit services provider’s stock after selling 4,525 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in LendingClub were worth $105,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Comerica Bank bought a new stake in shares of LendingClub in the 4th quarter valued at about $37,000. Sterling Capital Management LLC increased its stake in shares of LendingClub by 818.6% in the 4th quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider’s stock valued at $57,000 after acquiring an additional 3,119 shares during the last quarter. National Bank of Canada FI increased its stake in shares of LendingClub by 150.6% in the 4th quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider’s stock valued at $66,000 after acquiring an additional 2,448 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of LendingClub by 49.2% in the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock valued at $97,000 after acquiring an additional 1,975 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of LendingClub in the 1st quarter valued at about $161,000. 74.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LC. Citizens Jmp began coverage on LendingClub in a research note on Monday, July 7th. They set a “market perform” rating for the company. Citigroup initiated coverage on LendingClub in a research note on Monday, July 7th. They set a “market perform” rating for the company. Keefe, Bruyette & Woods decreased their price target on shares of LendingClub from $15.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Wall Street Zen cut shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Stephens initiated coverage on shares of LendingClub in a research note on Thursday, June 12th. They set an “overweight” rating and a $15.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, LendingClub currently has an average rating of “Moderate Buy” and a consensus target price of $16.13.

Insider Activity

In other news, Director Michael P. Zeisser acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The shares were bought at an average price of $9.35 per share, with a total value of $187,000.00. Following the acquisition, the director directly owned 174,138 shares in the company, valued at $1,628,190.30. The trade was a 12.98% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Scott Sanborn sold 5,250 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $10.34, for a total value of $54,285.00. Following the completion of the transaction, the chief executive officer directly owned 1,297,782 shares of the company’s stock, valued at approximately $13,419,065.88. The trade was a 0.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,500 shares of company stock valued at $341,250. Insiders own 3.31% of the company’s stock.

LendingClub Stock Performance

LC opened at $12.69 on Tuesday. LendingClub Corporation has a fifty-two week low of $7.90 and a fifty-two week high of $18.75. The company has a market capitalization of $1.45 billion, a P/E ratio of 28.83 and a beta of 2.44. The stock has a fifty day moving average of $11.08 and a 200-day moving average of $12.02.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. LendingClub had a return on equity of 4.04% and a net margin of 6.16%. The company had revenue of $217.71 million during the quarter, compared to the consensus estimate of $213.71 million. During the same quarter last year, the firm earned $0.11 earnings per share. The company’s revenue was up 21670.0% on a year-over-year basis. On average, equities research analysts predict that LendingClub Corporation will post 0.72 earnings per share for the current fiscal year.

LendingClub Profile

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.