Assenagon Asset Management S.A. Has $17.35 Million Stake in LendingClub Co. (NYSE:LC)

Assenagon Asset Management S.A. grew its position in LendingClub Co. (NYSE:LC) by 120.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,517,986 shares of the credit services provider’s stock after purchasing an additional 828,958 shares during the quarter. Assenagon Asset Management S.A. owned approximately 1.37% of LendingClub worth $17,351,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. AlphaMark Advisors LLC acquired a new position in LendingClub in the third quarter valued at approximately $32,000. EntryPoint Capital LLC lifted its position 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 valued at $66,000 after acquiring an additional 2,328 shares during the period. nVerses Capital LLC bought a new position in LendingClub during the second quarter worth $71,000. Innealta Capital LLC bought a new position in LendingClub during the second quarter worth $72,000. Finally, Blue Trust Inc. grew its holdings in LendingClub by 259.8% in the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after purchasing an additional 5,247 shares during the period. 74.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of the firm’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 value of $193,120.00. Following the completion of the transaction, the chief executive officer now directly owns 1,373,273 shares of the company’s stock, valued at approximately $15,600,381.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 51,703 shares of company stock worth $562,705 over the last three months. 3.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LC shares. Piper Sandler reiterated an “overweight” rating and set a $15.00 price objective (up previously from $13.00) on shares of LendingClub in a report on Thursday. StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a report on Friday. Compass Point raised their price objective on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday. 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. Finally, Wedbush lifted their price target on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.38.

LendingClub Stock Performance

Shares of LC stock opened at $13.59 on Friday. LendingClub Co. has a 52-week low of $4.73 and a 52-week high of $15.52. The company has a 50-day simple moving average of $11.69 and a two-hundred day simple moving average of $10.02. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 35.76 and a beta of 2.04.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. The business had revenue of $201.90 million for the quarter, compared to analyst estimates of $190.40 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. LendingClub’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the company posted $0.05 earnings per share. On average, sell-side analysts forecast that LendingClub Co. will post 0.39 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.