LendingClub Corporation $LC Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC decreased its position in LendingClub Corporation (NYSE:LC) by 3.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 211,470 shares of the credit services provider’s stock after selling 8,494 shares during the period. Brandywine Global Investment Management LLC owned about 0.18% of LendingClub worth $2,544,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new stake in LendingClub in the 1st quarter valued at about $869,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of LendingClub by 8.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,004,943 shares of the credit services provider’s stock valued at $10,371,000 after purchasing an additional 80,100 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in shares of LendingClub in the first quarter valued at approximately $774,000. Invst LLC acquired a new stake in shares of LendingClub in the first quarter valued at approximately $298,000. Finally, AlphaQuest LLC increased its stake in shares of LendingClub by 72.9% during the 1st quarter. AlphaQuest LLC now owns 40,864 shares of the credit services provider’s stock worth $422,000 after purchasing an additional 17,224 shares in the last quarter. Hedge funds and other institutional investors own 74.08% of the company’s stock.

LendingClub Trading Up 3.2%

LendingClub stock opened at $16.82 on Tuesday. The stock has a market cap of $1.94 billion, a P/E ratio of 19.11 and a beta of 2.51. The stock has a 50 day moving average of $16.76 and a 200-day moving average of $14.45. LendingClub Corporation has a 52 week low of $7.90 and a 52 week high of $19.88.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Wednesday, October 22nd. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The business had revenue of $107.79 million during the quarter, compared to analyst estimates of $256.27 million. LendingClub had a net margin of 10.94% and a return on equity of 7.68%. The business’s revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 earnings per share. As a group, equities analysts predict that LendingClub Corporation will post 0.72 earnings per share for the current fiscal year.

LendingClub declared that its board has approved a share repurchase program on Wednesday, November 5th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the credit services provider to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, CFO Andrew Labenne sold 20,903 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $17.04, for a total value of $356,187.12. Following the completion of the sale, the chief financial officer directly owned 181,750 shares of the company’s stock, valued at $3,097,020. The trade was a 10.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Erin Selleck sold 2,390 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $16.82, for a total value of $40,199.80. Following the sale, the director owned 73,987 shares in the company, valued at $1,244,461.34. The trade was a 3.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 113,293 shares of company stock worth $1,985,787. 3.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Janney Montgomery Scott boosted their target price on shares of LendingClub from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Piper Sandler restated an “overweight” rating and issued a $20.00 price objective (up from $18.00) on shares of LendingClub in a report on Thursday, October 23rd. BTIG Research lifted their target price on shares of LendingClub from $18.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Keefe, Bruyette & Woods boosted their price target on LendingClub from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of LendingClub in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.14.

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.