Price T Rowe Associates Inc. MD Purchases 7,601 Shares of LendingClub Co. (NYSE:LC)

Price T Rowe Associates Inc. MD increased its position in LendingClub Co. (NYSE:LC) by 10.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 82,952 shares of the credit services provider’s stock after purchasing an additional 7,601 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.07% of LendingClub worth $1,343,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LC. SBI Securities Co. Ltd. acquired a new stake in shares of LendingClub during the 4th quarter worth about $45,000. Sterling Capital Management LLC grew its position in shares of LendingClub by 818.6% in the fourth quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider’s stock valued at $57,000 after purchasing an additional 3,119 shares during the last quarter. National Bank of Canada FI increased its stake in shares of LendingClub by 150.6% during the fourth quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider’s stock worth $66,000 after purchasing an additional 2,448 shares during the period. Jones Financial Companies Lllp lifted its holdings in LendingClub by 49.2% during the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock worth $97,000 after purchasing an additional 1,975 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in LendingClub in the 4th quarter valued at $164,000. 74.08% of the stock is currently owned by institutional investors and hedge funds.

LendingClub Trading Down 0.7 %

Shares of NYSE LC opened at $10.54 on Friday. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 23.42 and a beta of 2.35. LendingClub Co. has a 12 month low of $7.81 and a 12 month high of $18.75. The stock has a 50-day moving average price of $10.27 and a two-hundred day moving average price of $13.49.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $217.71 million during the quarter, compared to the consensus estimate of $213.71 million. LendingClub had a net margin of 6.52% and a return on equity of 4.16%. The firm’s revenue was up 21670.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.11 EPS. On average, sell-side analysts predict that LendingClub Co. will post 0.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

LC has been the subject of a number of recent research reports. Piper Sandler reissued an “overweight” rating and issued a $19.00 target price (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their target price on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Keefe, Bruyette & Woods cut their price target on LendingClub from $15.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Finally, StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, LendingClub presently has an average rating of “Moderate Buy” and an average target price of $15.75.

Insider Buying and Selling

In other news, CEO Scott Sanborn sold 5,250 shares of the stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $10.00, for a total value of $52,500.00. Following the completion of the sale, the chief executive officer now owns 1,303,032 shares of the company’s stock, valued at approximately $13,030,320. This represents a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Jordan Cheng sold 7,000 shares of LendingClub stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total value of $98,700.00. Following the completion of the transaction, the general counsel now directly owns 88,263 shares in the company, valued at approximately $1,244,508.30. This represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,750 shares of company stock worth $257,985 in the last 90 days. Insiders own 3.19% of the company’s stock.

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.