Range Financial Group LLC Takes $1.51 Million Position in LendingClub Co. (NYSE:LC)

Range Financial Group LLC purchased a new position in shares of LendingClub Co. (NYSE:LC) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 93,250 shares of the credit services provider’s stock, valued at approximately $1,510,000.

Several other hedge funds have also bought and sold shares of LC. Dimensional Fund Advisors LP lifted its stake in shares of LendingClub by 5.4% during the 2nd 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 in the last quarter. State Street Corp increased its holdings in shares of LendingClub by 2.2% in the 3rd quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock worth $44,541,000 after buying an additional 82,315 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of LendingClub by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock valued at $29,265,000 after purchasing an additional 42,429 shares during the last quarter. American Century Companies Inc. lifted its position in LendingClub by 24.8% in the second quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock worth $14,032,000 after buying an additional 329,279 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of LendingClub by 98.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider’s stock worth $17,686,000 after purchasing an additional 766,287 shares during the period. Institutional investors own 74.08% of the company’s stock.

LendingClub Price Performance

Shares of LC traded down $0.92 during mid-day trading on Tuesday, reaching $16.31. The stock had a trading volume of 1,980,045 shares, compared to its average volume of 1,579,652. The business’s fifty day moving average is $15.90 and its 200 day moving average is $12.65. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 35.46 and a beta of 2.03. LendingClub Co. has a 52-week low of $7.48 and a 52-week high of $18.75.

LendingClub (NYSE:LC) last posted its 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 company had revenue of $201.90 million for the quarter, compared to analysts’ expectations of $190.40 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. LendingClub’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that LendingClub Co. will post 0.47 EPS for the current fiscal year.

Insider Transactions at LendingClub

In other news, General Counsel Jordan Cheng sold 22,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $14.83, for a total transaction of $326,260.00. Following the completion of the transaction, the general counsel now directly owns 89,385 shares of the company’s stock, valued at approximately $1,325,579.55. The trade was a 19.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John C. Morris sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was 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 $2,920,077.28. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,500 shares of company stock valued at $1,158,610. 3.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LC shares. Keefe, Bruyette & Woods increased their target price on LendingClub from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler increased their price target on shares of LendingClub from $15.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Wedbush lifted their price target on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $17.00 price objective (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, LendingClub currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.63.

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.