Assenagon Asset Management S.A. Has $8.98 Million Stake in LendingClub Corporation $LC

Assenagon Asset Management S.A. boosted its position in LendingClub Corporation (NYSE:LC) by 24.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 746,800 shares of the credit services provider’s stock after acquiring an additional 144,873 shares during the quarter. Assenagon Asset Management S.A. owned 0.65% of LendingClub worth $8,984,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LC. Quarry LP boosted its holdings in shares of LendingClub by 1,427.2% in the 1st quarter. Quarry LP now owns 2,810 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 2,626 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of LendingClub during the 1st quarter worth $35,000. KBC Group NV acquired a new stake in LendingClub in the first quarter valued at about $67,000. Asset Management One Co. Ltd. grew its position in LendingClub by 95.4% in the first quarter. Asset Management One Co. Ltd. now owns 9,526 shares of the credit services provider’s stock valued at $98,000 after acquiring an additional 4,651 shares during the last quarter. Finally, Vident Advisory LLC bought a new stake in shares of LendingClub during the 1st quarter valued at approximately $118,000. 74.08% of the stock is currently owned by institutional investors.

LendingClub Price Performance

LendingClub stock opened at $17.13 on Wednesday. The stock’s 50 day moving average is $15.64 and its 200 day moving average is $12.40. The firm has a market cap of $1.97 billion, a P/E ratio of 26.77 and a beta of 2.53. LendingClub Corporation has a one year low of $7.90 and a one year high of $18.75.

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

Analyst Upgrades and Downgrades

LC has been the subject of several research reports. Citigroup assumed coverage on shares of LendingClub in a research note on Monday, July 7th. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods increased their price target on LendingClub from $14.00 to $16.50 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Wall Street Zen upgraded LendingClub from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Piper Sandler set a $15.50 target price on LendingClub and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, Citizens Jmp initiated coverage on LendingClub in a research note on Monday, July 7th. They set a “market perform” rating on the stock. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $16.57.

Insider Transactions at LendingClub

In other LendingClub 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 value of $40,199.80. Following the completion of the sale, the director directly owned 73,987 shares in the company, valued at approximately $1,244,461.34. The trade was a 3.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Scott Sanborn sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $16.65, for a total value of $499,500.00. Following the transaction, the chief executive officer owned 1,270,070 shares in the company, valued at $21,146,665.50. The trade was a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,748 shares of company stock valued at $1,840,123. Corporate insiders own 3.31% of the company’s stock.

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.