LendingClub Corporation $LC Stock Holdings Boosted by Capital Fund Management S.A.

Capital Fund Management S.A. increased its position in LendingClub Corporation (NYSE:LC) by 183.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 213,008 shares of the credit services provider’s stock after acquiring an additional 137,972 shares during the period. Capital Fund Management S.A.’s holdings in LendingClub were worth $2,562,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP boosted its stake in LendingClub by 1,427.2% during the 1st quarter. Quarry LP now owns 2,810 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 2,626 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of LendingClub during the first quarter valued at approximately $35,000. Vident Advisory LLC acquired a new position in shares of LendingClub during the first quarter worth approximately $118,000. MQS Management LLC bought a new position in LendingClub in the 2nd quarter worth approximately $121,000. Finally, Asset Management One Co. Ltd. grew its holdings in LendingClub by 7.4% in the 2nd quarter. Asset Management One Co. Ltd. now owns 10,232 shares of the credit services provider’s stock worth $123,000 after buying an additional 706 shares in the last quarter. 74.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. BTIG Research boosted their price target on LendingClub from $18.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. raised shares of LendingClub from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $17.00 to $22.00 in a report on Thursday, October 23rd. Citizens Jmp upgraded shares of LendingClub from a “market perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research report on Monday, November 10th. Keefe, Bruyette & Woods boosted their price target on shares of LendingClub from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of LendingClub in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.14.

LendingClub Stock Up 2.0%

NYSE:LC opened at $18.78 on Thursday. The business’s 50-day moving average price is $16.85 and its 200 day moving average price is $14.77. LendingClub Corporation has a 52-week low of $7.90 and a 52-week high of $19.88. The firm has a market cap of $2.17 billion, a P/E ratio of 21.35 and a beta of 2.14.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Wednesday, October 22nd. The credit services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The company had revenue of $107.79 million during the quarter, compared to the consensus estimate of $256.27 million. LendingClub had a net margin of 10.94% and a return on equity of 7.68%. LendingClub’s revenue was up 31.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 EPS. Sell-side analysts expect that LendingClub Corporation will post 0.72 EPS for the current year.

LendingClub announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 5th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the credit services provider to repurchase up to 4.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at LendingClub

In related news, CEO Scott Sanborn sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $19.29, for a total transaction of $578,700.00. Following the completion of the sale, the chief executive officer directly owned 1,210,070 shares in the company, valued at approximately $23,342,250.30. This trade represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Erin Selleck sold 2,390 shares of LendingClub stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $16.82, for a total transaction of $40,199.80. Following the completion of the transaction, the director owned 73,987 shares in the company, valued at approximately $1,244,461.34. This trade represents a 3.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 83,293 shares of company stock valued at $1,486,287 over the last ninety days. Insiders own 3.19% 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.