Dimensional Fund Advisors LP Buys 300,536 Shares of LendingClub Co. (NYSE:LC)

Dimensional Fund Advisors LP boosted its stake in LendingClub Co. (NYSE:LC) by 5.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 5,898,545 shares of the credit services provider’s stock after acquiring an additional 300,536 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.05% of LendingClub worth $49,901,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. EntryPoint Capital LLC increased its holdings in LendingClub by 44.9% in the 1st quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after purchasing an additional 2,328 shares in the last quarter. nVerses Capital LLC bought a new position in LendingClub during the 2nd quarter worth approximately $71,000. Innealta Capital LLC acquired a new position in shares of LendingClub in the 2nd quarter worth approximately $72,000. SG Americas Securities LLC boosted its stake in shares of LendingClub by 16.3% in the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock valued at $104,000 after purchasing an additional 1,732 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of LendingClub during the first quarter worth $129,000. Institutional investors and hedge funds own 74.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wedbush raised their target price on LendingClub from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Jefferies Financial Group upped their target price on LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. BTIG Research assumed coverage on shares of LendingClub in a research note on Friday, June 7th. They issued a “buy” rating and a $12.00 price objective on the stock. Piper Sandler reissued an “overweight” rating and set a $13.00 target price (up from $10.00) on shares of LendingClub in a research report on Wednesday, July 31st. Finally, StockNews.com raised shares of LendingClub from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.07.

LendingClub Stock Up 2.1 %

Shares of NYSE:LC opened at $11.03 on Monday. The firm has a market capitalization of $1.23 billion, a PE ratio of 32.44 and a beta of 2.04. The company has a 50-day moving average price of $11.07 and a two-hundred day moving average price of $9.48. LendingClub Co. has a twelve month low of $4.73 and a twelve month high of $12.87.

LendingClub (NYSE:LC) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.09. The company had revenue of $187.20 million during the quarter, compared to analysts’ expectations of $177.03 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The firm’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 earnings per share. Analysts anticipate that LendingClub Co. will post 0.38 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $11.36, for a total transaction of $193,120.00. Following the completion of the transaction, the chief executive officer now owns 1,373,273 shares of the company’s stock, valued at $15,600,381.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 34,703 shares of company stock worth $374,175 over the last ninety days. Company insiders own 3.31% of the company’s stock.

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.