Financial Avengers Inc. Sells 2,000 Shares of LendingClub Co. (NYSE:LC)

Financial Avengers Inc. reduced its holdings in LendingClub Co. (NYSE:LC) by 28.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,000 shares of the credit services provider’s stock after selling 2,000 shares during the period. Financial Avengers Inc.’s holdings in LendingClub were worth $81,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in LendingClub by 353.1% in the fourth quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider’s stock worth $61,515,000 after purchasing an additional 2,961,050 shares in the last quarter. Driehaus Capital Management LLC grew its holdings in LendingClub by 229.1% during the 4th quarter. Driehaus Capital Management LLC now owns 3,588,799 shares of the credit services provider’s stock worth $58,103,000 after acquiring an additional 2,498,318 shares in the last quarter. Balyasny Asset Management L.P. increased its position in LendingClub by 196.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider’s stock valued at $34,505,000 after purchasing an additional 1,412,568 shares during the period. American Century Companies Inc. increased its position in LendingClub by 9.3% during the 4th quarter. American Century Companies Inc. now owns 1,895,699 shares of the credit services provider’s stock valued at $30,691,000 after purchasing an additional 160,916 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in shares of LendingClub by 2.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,839,360 shares of the credit services provider’s stock valued at $29,779,000 after purchasing an additional 49,996 shares in the last quarter. 74.08% of the stock is currently owned by institutional investors.

LendingClub Price Performance

NYSE LC opened at $10.37 on Wednesday. The stock has a market capitalization of $1.18 billion, a P/E ratio of 23.04 and a beta of 2.35. The firm’s 50-day moving average is $10.26 and its two-hundred day moving average is $13.33. LendingClub Co. has a 12 month low of $7.81 and a 12 month high of $18.75.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. LendingClub had a net margin of 6.52% and a return on equity of 4.16%. The firm had revenue of $217.71 million for the quarter, compared to analyst estimates of $213.71 million. During the same period in the prior year, the business posted $0.11 EPS. The business’s revenue for the quarter was up 21670.0% compared to the same quarter last year. As a group, analysts anticipate that LendingClub Co. will post 0.72 EPS for the current year.

Insider Transactions at LendingClub

In other LendingClub news, Director Michael P. Zeisser purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was bought at an average price of $9.35 per share, with a total value of $187,000.00. Following the transaction, the director now directly owns 174,138 shares of the company’s stock, valued at approximately $1,628,190.30. This represents a 12.98% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott Sanborn sold 5,250 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $10.65, for a total value of $55,912.50. Following the completion of the sale, the chief executive officer now owns 1,287,282 shares in the company, valued at approximately $13,709,553.30. The trade was a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,000 shares of company stock worth $215,198 over the last ninety days. Company insiders own 3.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LC. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research report on Tuesday, May 6th. Keefe, Bruyette & Woods decreased their price target on shares of LendingClub from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $19.00 price objective (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, LendingClub currently has an average rating of “Moderate Buy” and a consensus target price of $15.75.

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.