Barclays PLC Has $2.58 Million Position in LendingClub Co. (NYSE:LC)

Barclays PLC boosted its stake in LendingClub Co. (NYSE:LC) by 206.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 225,902 shares of the credit services provider’s stock after purchasing an additional 152,224 shares during the quarter. Barclays PLC’s holdings in LendingClub were worth $2,582,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AlphaMark Advisors LLC bought a new position in shares of LendingClub during the 3rd quarter worth about $32,000. FMR LLC raised its stake in LendingClub by 32.1% during the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after buying an additional 1,424 shares during the period. nVerses Capital LLC bought a new position in LendingClub in the second quarter worth approximately $71,000. Innealta Capital LLC acquired a new stake in LendingClub in the second quarter valued at approximately $72,000. Finally, Blue Trust Inc. increased its holdings in shares of LendingClub by 259.8% during the third 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 in the last quarter. 74.08% of the stock is owned by institutional investors.

Insider Buying and Selling

In other LendingClub news, General Counsel Jordan Cheng sold 22,000 shares of the stock in a transaction on 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. This represents a 19.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $11.09, for a total value of $188,530.00. Following the completion of the sale, the chief executive officer now owns 1,356,273 shares in the company, valued at approximately $15,041,067.57. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,500 shares of company stock valued at $1,073,100. 3.31% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LC shares. Piper Sandler reiterated an “overweight” rating and issued a $15.00 target price (up from $13.00) on shares of LendingClub in a report on Thursday, October 24th. Wedbush raised their price objective on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $17.00 target price (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. Compass Point raised their price target on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, LendingClub currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

LendingClub Stock Up 2.1 %

LendingClub stock opened at $16.66 on Wednesday. LendingClub Co. has a 52 week low of $7.48 and a 52 week high of $18.75. The company’s 50 day moving average price is $15.18 and its two-hundred day moving average price is $12.06. The stock has a market cap of $1.87 billion, a P/E ratio of 36.22 and a beta of 2.02.

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 4.02% and a net margin of 6.85%. 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, equities analysts anticipate that LendingClub Co. will post 0.47 EPS for the current year.

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.