LendingClub Co. (NYSE:LC) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of LendingClub Co. (NYSE:LC) by 2.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 221,735 shares of the credit services provider’s stock after acquiring an additional 6,009 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in LendingClub were worth $1,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB grew its stake in shares of LendingClub by 190.8% during the 3rd quarter. Nordea Investment Management AB now owns 609,966 shares of the credit services provider’s stock worth $3,733,000 after purchasing an additional 400,189 shares during the period. Wellington Management Group LLP acquired a new stake in LendingClub in the 3rd quarter valued at $2,970,000. Quantbot Technologies LP acquired a new stake in LendingClub in the 3rd quarter valued at $643,000. Asset Management One Co. Ltd. grew its stake in LendingClub by 40.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 8,217 shares of the credit services provider’s stock valued at $50,000 after acquiring an additional 2,377 shares during the period. Finally, Principal Financial Group Inc. grew its stake in LendingClub by 39.4% in the 3rd quarter. Principal Financial Group Inc. now owns 15,761 shares of the credit services provider’s stock valued at $96,000 after acquiring an additional 4,455 shares during the period. Institutional investors and hedge funds own 74.08% of the company’s stock.

LendingClub Trading Up 3.9 %

Shares of LC stock opened at $7.91 on Friday. The stock’s fifty day moving average is $8.26 and its two-hundred day moving average is $7.46. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.83 and a current ratio of 0.89. The firm has a market capitalization of $873.35 million, a P/E ratio of 21.97 and a beta of 1.98. LendingClub Co. has a fifty-two week low of $4.73 and a fifty-two week high of $10.92.

LendingClub (NYSE:LC) last announced its quarterly earnings data on Tuesday, January 30th. The credit services provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. The company had revenue of $185.60 million for the quarter, compared to analyst estimates of $182.13 million. LendingClub had a return on equity of 3.21% and a net margin of 4.50%. The firm’s revenue for the quarter was down 29.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 EPS. Research analysts expect that LendingClub Co. will post 0.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $11.00 price target on shares of LendingClub in a research note on Wednesday, January 31st. StockNews.com cut shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.30.

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.