LendingClub Co. (NYSE:LC) Stake Increased by Wellington Management Group LLP

Wellington Management Group LLP raised its stake in shares of LendingClub Co. (NYSE:LC) by 21.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 838,535 shares of the credit services provider’s stock after acquiring an additional 148,685 shares during the quarter. Wellington Management Group LLP’s holdings in LendingClub were worth $9,584,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. AlphaMark Advisors LLC bought a new position in shares of LendingClub during the third quarter worth about $32,000. FMR LLC grew its position in shares of LendingClub by 32.1% in the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after acquiring an additional 1,424 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of LendingClub by 259.8% in the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after acquiring an additional 5,247 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of LendingClub during the 2nd quarter valued at approximately $71,000. Finally, Innealta Capital LLC bought a new position in LendingClub during the second quarter worth $72,000. 74.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other LendingClub news, General Counsel Jordan Cheng sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $14.83, for a total value of $326,260.00. Following the completion of the sale, the general counsel now directly owns 89,385 shares in the company, valued at $1,325,579.55. This represents a 19.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John C. Morris sold 2,500 shares of LendingClub stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total value of $35,900.00. Following the transaction, the director now owns 203,348 shares in the company, valued at approximately $2,920,077.28. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,500 shares of company stock worth $1,073,100 over the last three months. Corporate insiders own 3.31% of the company’s stock.

LendingClub Stock Performance

NYSE:LC opened at $16.56 on Monday. LendingClub Co. has a 1 year low of $7.48 and a 1 year high of $17.15. The business has a fifty day moving average of $14.60 and a 200-day moving average of $11.69. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 36.00 and a beta of 2.02.

LendingClub (NYSE:LC) last announced its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (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 firm had revenue of $201.90 million during the quarter, compared to analyst estimates of $190.40 million. During the same quarter in the prior year, the firm posted $0.05 EPS. LendingClub’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts predict that LendingClub Co. will post 0.47 EPS for the current year.

Analysts Set New Price Targets

LC has been the topic of a number of research reports. Wedbush increased their target price on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Piper Sandler reissued an “overweight” rating and issued a $15.00 target price (up previously from $13.00) on shares of LendingClub in a report on Thursday, October 24th. Keefe, Bruyette & Woods upped their target price on LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Compass Point raised their price target on LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Maxim Group upped their price objective on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

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.