Financial Avengers Inc. Reduces Position in LendingClub Co. (NYSE:LC)

Financial Avengers Inc. cut its holdings in shares of LendingClub Co. (NYSE:LC) by 12.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,000 shares of the credit services provider’s stock after selling 1,000 shares during the quarter. Financial Avengers Inc.’s holdings in LendingClub were worth $80,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in LC. Assenagon Asset Management S.A. lifted its holdings in LendingClub by 120.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock valued at $17,351,000 after purchasing an additional 828,958 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in LendingClub by 98.1% during the third quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider’s stock valued at $17,686,000 after purchasing an additional 766,287 shares during the last quarter. American Century Companies Inc. increased its position in shares of LendingClub by 24.8% during the second quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock valued at $14,032,000 after buying an additional 329,279 shares during the period. Dimensional Fund Advisors LP increased its position in shares of LendingClub by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock valued at $49,901,000 after buying an additional 300,536 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of LendingClub during the second quarter valued at about $2,412,000. 74.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $11.09, for a total transaction of $188,530.00. Following the completion of the sale, the chief executive officer now owns 1,356,273 shares of the company’s stock, valued at approximately $15,041,067.57. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Jordan Cheng sold 22,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $14.83, for a total value of $326,260.00. Following the sale, the general counsel now directly owns 89,385 shares of the company’s stock, valued at approximately $1,325,579.55. This trade represents a 19.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,500 shares of company stock worth $1,073,100 over the last ninety days. Insiders own 3.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LC. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $17.00 price target (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. Keefe, Bruyette & Woods upped their price target on LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Compass Point upped their price target on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Wedbush upped their price objective on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.00.

LendingClub Price Performance

Shares of NYSE LC opened at $15.41 on Wednesday. LendingClub Co. has a one year low of $6.56 and a one year high of $17.15. The firm’s 50 day simple moving average is $14.30 and its two-hundred day simple moving average is $11.55. The stock has a market capitalization of $1.73 billion, a P/E ratio of 33.50 and a beta of 2.02.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The business had revenue of $201.90 million for the quarter, compared to analysts’ expectations of $190.40 million. During the same period last year, the business earned $0.05 earnings per share. The business’s quarterly revenue was up .5% on a year-over-year basis. As a group, equities analysts expect that LendingClub Co. will post 0.47 earnings per share 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.