Belpointe Asset Management LLC Sells 1,805 Shares of LendingClub Corporation $LC

Belpointe Asset Management LLC trimmed its position in shares of LendingClub Corporation (NYSE:LC) by 10.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,337 shares of the credit services provider’s stock after selling 1,805 shares during the quarter. Belpointe Asset Management LLC’s holdings in LendingClub were worth $158,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Comerica Bank bought a new stake in shares of LendingClub in the 4th quarter worth about $37,000. BNP Paribas Financial Markets purchased a new stake in LendingClub in the 4th quarter worth about $750,000. Bank of America Corp DE lifted its stake in LendingClub by 111.5% in the fourth quarter. Bank of America Corp DE now owns 402,033 shares of the credit services provider’s stock worth $6,509,000 after purchasing an additional 211,979 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of LendingClub by 1.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 190,348 shares of the credit services provider’s stock valued at $3,083,000 after buying an additional 3,137 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in shares of LendingClub by 2.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,839,360 shares of the credit services provider’s stock valued at $29,779,000 after buying an additional 49,996 shares during the period. Hedge funds and other institutional investors own 74.08% of the company’s stock.

Insider Buying and Selling

In related news, Director Erin Selleck sold 2,390 shares of LendingClub stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $16.82, for a total transaction of $40,199.80. Following the completion of the transaction, the director directly owned 73,987 shares in the company, valued at approximately $1,244,461.34. This trade represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew Labenne sold 17,955 shares of the business’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $16.65, for a total transaction of $298,950.75. Following the completion of the transaction, the chief financial officer owned 178,111 shares of the company’s stock, valued at approximately $2,965,548.15. This represents a 9.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,095 shares of company stock valued at $1,031,273 over the last ninety days. Company insiders own 3.31% of the company’s stock.

Wall Street Analyst Weigh In

LC has been the topic of several recent analyst reports. Wall Street Zen upgraded LendingClub from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Stephens started coverage on LendingClub in a research note on Thursday, June 12th. They issued an “overweight” rating and a $15.00 target price on the stock. Citigroup started coverage on shares of LendingClub in a research note on Monday, July 7th. They set a “market perform” rating for the company. Citizens Jmp assumed coverage on shares of LendingClub in a research note on Monday, July 7th. They issued a “market perform” rating on the stock. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of LendingClub from $14.00 to $16.50 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.57.

LendingClub Price Performance

NYSE LC opened at $17.21 on Wednesday. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 26.89 and a beta of 2.53. The stock’s fifty day moving average price is $15.16 and its 200 day moving average price is $12.20. LendingClub Corporation has a 1 year low of $7.90 and a 1 year high of $18.75.

LendingClub (NYSE:LC) last issued its earnings results on Tuesday, July 29th. The credit services provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.18. The firm had revenue of $248.44 million for the quarter, compared to analyst estimates of $227.04 million. LendingClub had a return on equity of 5.66% and a net margin of 8.36%.LendingClub’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Research analysts expect that LendingClub Corporation will post 0.72 earnings per share for the current year.

About LendingClub

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.