Capital Fund Management S.A. Increases Stock Position in LendingClub Corporation $LC

Capital Fund Management S.A. increased its position in shares of LendingClub Corporation (NYSE:LC) by 183.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 213,008 shares of the credit services provider’s stock after buying an additional 137,972 shares during the period. Capital Fund Management S.A. owned about 0.19% of LendingClub worth $2,562,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP boosted its position in 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 buying an additional 2,626 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of LendingClub in the first quarter worth about $35,000. Vident Advisory LLC purchased a new position in LendingClub in the first quarter valued at about $118,000. MQS Management LLC purchased a new position in LendingClub in the second quarter valued at about $121,000. Finally, Asset Management One Co. Ltd. grew its stake in LendingClub by 7.4% during the 2nd quarter. Asset Management One Co. Ltd. now owns 10,232 shares of the credit services provider’s stock valued at $123,000 after purchasing an additional 706 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $20.00 target price (up from $18.00) on shares of LendingClub in a research report on Thursday, October 23rd. Janney Montgomery Scott lifted their price target on shares of LendingClub from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Citizens Jmp upgraded shares of LendingClub from a “market perform” rating to an “outperform” rating and set a $23.00 price objective on the stock in a research note on Monday, November 10th. JPMorgan Chase & Co. raised shares of LendingClub from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $17.00 to $22.00 in a report on Thursday, October 23rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of LendingClub in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.14.

LendingClub Price Performance

Shares of LC opened at $18.78 on Thursday. The stock has a market capitalization of $2.17 billion, a PE ratio of 21.35 and a beta of 2.14. The business’s fifty day moving average price is $16.85 and its 200 day moving average price is $14.77. LendingClub Corporation has a 12-month low of $7.90 and a 12-month high of $19.88.

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

LendingClub declared that its board has initiated a share buyback plan on Wednesday, November 5th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the credit services provider to reacquire up to 4.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at LendingClub

In other news, CEO Scott Sanborn sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $19.29, for a total transaction of $578,700.00. Following the completion of the transaction, the chief executive officer directly owned 1,210,070 shares of the company’s stock, valued at approximately $23,342,250.30. This represents a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew Labenne sold 20,903 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $17.04, for a total value of $356,187.12. Following the sale, the chief financial officer owned 181,750 shares in the company, valued at $3,097,020. The trade was a 10.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 83,293 shares of company stock valued at $1,486,287 in the last quarter. Insiders own 3.19% 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.