Princeton Capital Management LLC Buys New Position in LendingClub Co. (NYSE:LC)

Princeton Capital Management LLC bought a new stake in LendingClub Co. (NYSE:LC) during the third quarter, Holdings Channel.com reports. The fund bought 15,000 shares of the credit services provider’s stock, valued at approximately $171,000.

A number of other institutional investors and hedge funds have also bought and sold shares of LC. Swiss National Bank raised its stake in shares of LendingClub by 1.0% during the first quarter. Swiss National Bank now owns 216,360 shares of the credit services provider’s stock worth $1,902,000 after acquiring an additional 2,100 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of LendingClub by 8.5% during the first quarter. ProShare Advisors LLC now owns 19,518 shares of the credit services provider’s stock worth $172,000 after acquiring an additional 1,536 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of LendingClub by 1.6% during the first quarter. Vanguard Group Inc. now owns 11,446,014 shares of the credit services provider’s stock worth $100,610,000 after acquiring an additional 175,706 shares in the last quarter. EntryPoint Capital LLC raised its stake in shares of LendingClub by 44.9% during the first quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after acquiring an additional 2,328 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of LendingClub by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 70,715 shares of the credit services provider’s stock worth $622,000 after acquiring an additional 4,479 shares in the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at LendingClub

In other news, Director John C. Morris sold 2,500 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total transaction of $35,900.00. Following the sale, the director now owns 203,348 shares in the company, valued at approximately $2,920,077.28. The trade was a 1.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $11.09, for a total transaction of $188,530.00. Following the sale, the chief executive officer now owns 1,356,273 shares in the company, valued at approximately $15,041,067.57. This trade represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,500 shares of company stock worth $996,940 over the last quarter. Corporate insiders own 3.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on LC. Maxim Group lifted their price target on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Wedbush lifted their price target on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Compass Point lifted their price target on shares of LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods raised shares of LendingClub from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $11.50 to $15.00 in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, LendingClub has an average rating of “Moderate Buy” and a consensus target price of $15.38.

LendingClub Stock Up 1.8 %

NYSE:LC opened at $15.19 on Tuesday. The stock has a market cap of $1.71 billion, a P/E ratio of 33.02 and a beta of 2.01. The firm’s fifty day simple moving average is $12.59 and its 200 day simple moving average is $10.75. LendingClub Co. has a twelve month low of $5.41 and a twelve month high of $16.16.

LendingClub (NYSE:LC) last released its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.06. The business had revenue of $201.90 million for the quarter, compared to analysts’ expectations of $190.40 million. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 earnings per share. On average, analysts expect that LendingClub Co. will post 0.47 EPS for the current fiscal year.

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.