LendingClub Corporation $LC Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its position in LendingClub Corporation (NYSE:LC) by 17.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 262,397 shares of the credit services provider’s stock after selling 53,788 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.23% of LendingClub worth $2,708,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of LendingClub by 353.1% in the 4th quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider’s stock valued at $61,515,000 after purchasing an additional 2,961,050 shares during the period. Driehaus Capital Management LLC boosted its position in shares of LendingClub by 229.1% in the 4th quarter. Driehaus Capital Management LLC now owns 3,588,799 shares of the credit services provider’s stock valued at $58,103,000 after purchasing an additional 2,498,318 shares during the period. Balyasny Asset Management L.P. boosted its position in shares of LendingClub by 196.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider’s stock valued at $34,505,000 after purchasing an additional 1,412,568 shares during the period. Nuveen Asset Management LLC boosted its position in shares of LendingClub by 2.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,839,360 shares of the credit services provider’s stock valued at $29,779,000 after purchasing an additional 49,996 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of LendingClub in the 1st quarter valued at about $16,329,000. 74.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity at LendingClub

In other news, CFO Andrew Labenne sold 17,955 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $16.65, for a total value of $298,950.75. Following the completion of the sale, the chief financial officer directly owned 178,111 shares of the company’s stock, valued at $2,965,548.15. This trade represents a 9.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott Sanborn sold 5,250 shares of the firm’s stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $12.98, for a total value of $68,145.00. Following the completion of the sale, the chief executive officer directly owned 1,283,175 shares of the company’s stock, valued at $16,655,611.50. This represents a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,955 shares of company stock valued at $545,648 over the last three months. Insiders own 3.31% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods increased their price objective on LendingClub from $14.00 to $16.50 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Stephens assumed coverage on LendingClub in a research report on Thursday, June 12th. They set an “overweight” rating and a $15.00 price objective for the company. Citigroup assumed coverage on LendingClub in a research report on Monday, July 7th. They set a “market perform” rating for the company. Wall Street Zen raised LendingClub from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Citizens Jmp assumed coverage on LendingClub in a research report on Monday, July 7th. They set a “market perform” rating for the company. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.57.

LendingClub Price Performance

LC opened at $16.2740 on Monday. The business has a 50 day simple moving average of $13.47 and a 200-day simple moving average of $11.78. The stock has a market capitalization of $1.87 billion, a P/E ratio of 25.43 and a beta of 2.46. LendingClub Corporation has a 12 month low of $7.90 and a 12 month high of $18.75.

LendingClub (NYSE:LC) last posted its quarterly earnings results on Tuesday, July 29th. The credit services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.15 by $0.18. The business had revenue of $248.44 million during the quarter, compared to analysts’ expectations of $227.04 million. LendingClub had a return on equity of 5.66% and a net margin of 8.36%.The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $0.13 EPS. Research analysts anticipate that LendingClub Corporation will post 0.72 EPS for the current year.

LendingClub Company 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.