Susquehanna Portfolio Strategies LLC Lowers Holdings in LendingClub Co. (NYSE:LC)

Susquehanna Portfolio Strategies LLC reduced its position in LendingClub Co. (NYSE:LC) by 75.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 54,054 shares of the credit services provider’s stock after selling 167,857 shares during the quarter. Susquehanna Portfolio Strategies LLC’s holdings in LendingClub were worth $457,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. EntryPoint Capital LLC raised its stake in shares of LendingClub by 44.9% during the 1st quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after buying an additional 2,328 shares in the last quarter. nVerses Capital LLC purchased a new position in LendingClub in the second quarter worth $71,000. Innealta Capital LLC acquired a new stake in LendingClub in the second quarter valued at $72,000. SG Americas Securities LLC boosted its position in shares of LendingClub by 16.3% during the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock worth $104,000 after purchasing an additional 1,732 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of LendingClub during the 1st quarter worth $129,000. Hedge funds and other institutional investors own 74.08% of the company’s stock.

Analysts Set New Price Targets

LC has been the subject of several recent analyst reports. Compass Point raised their price objective on shares of LendingClub from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods lifted their price target on shares of LendingClub from $10.00 to $11.50 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. BTIG Research assumed coverage on LendingClub in a report on Friday, June 7th. They issued a “buy” rating and a $12.00 price target on the stock. Jefferies Financial Group lifted their price objective on LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, StockNews.com upgraded LendingClub from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $13.07.

Insider Activity at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $11.36, for a total value of $193,120.00. Following the sale, the chief executive officer now directly owns 1,373,273 shares of the company’s stock, valued at approximately $15,600,381.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 34,703 shares of company stock worth $374,175. 3.31% of the stock is currently owned by insiders.

LendingClub Stock Performance

LC stock opened at $11.03 on Friday. The stock’s 50 day moving average price is $11.07 and its 200 day moving average price is $9.47. The firm has a market cap of $1.23 billion, a P/E ratio of 32.44 and a beta of 2.04. LendingClub Co. has a 1 year low of $4.73 and a 1 year high of $12.87.

LendingClub (NYSE:LC) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. The business had revenue of $187.20 million during the quarter, compared to analyst estimates of $177.03 million. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The company’s revenue was down 19.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 earnings per share. On average, research analysts predict that LendingClub Co. will post 0.38 earnings per share for the current year.

LendingClub Company 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.