LendingClub Co. (NYSE:LC) Shares Sold by Assenagon Asset Management S.A.
Assenagon Asset Management S.A. decreased its holdings in LendingClub Co. (NYSE:LC - Free Report) by 43.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 853,500 shares of the credit services provider's stock after selling 664,486 shares during the quarter. Assenagon Asset Management S.A. owned 0.76% of LendingClub worth $13,818,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Point72 Asset Management L.P. raised its stake in shares of LendingClub by 98.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider's stock worth $17,686,000 after buying an additional 766,287 shares during the period. American Century Companies Inc. increased its holdings in LendingClub by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider's stock worth $14,032,000 after acquiring an additional 329,279 shares in the last quarter. Dimensional Fund Advisors LP raised its position in LendingClub by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider's stock worth $49,901,000 after acquiring an additional 300,536 shares during the period. Marshall Wace LLP purchased a new position in LendingClub during the second quarter valued at $2,412,000. Finally, Federated Hermes Inc. grew its position in shares of LendingClub by 210.7% in the second quarter. Federated Hermes Inc. now owns 360,241 shares of the credit services provider's stock valued at $3,048,000 after purchasing an additional 244,293 shares during the period. Hedge funds and other institutional investors own 74.08% of the company's stock.
NYSE LC opened at $16.68 on Friday. The stock's fifty day moving average is $16.16 and its two-hundred day moving average is $13.07. The firm has a market capitalization of $1.87 billion, a P/E ratio of 36.25 and a beta of 2.03. LendingClub Co. has a fifty-two week low of $7.48 and a fifty-two week high of $18.75.
LendingClub (NYSE:LC - Get Free Report) last announced its quarterly earnings data 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 earnings per share. LendingClub's quarterly revenue was up .5% on a year-over-year basis. As a group, sell-side analysts forecast that LendingClub Co. will post 0.47 EPS for the current year.
In other news, CEO Scott Sanborn sold 17,000 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $14.89, for a total value of $253,130.00. Following the transaction, the chief executive officer now owns 1,339,273 shares of the company's stock, valued at $19,941,774.97. This represents a 1.25 % decrease in their position. The sale 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 the firm's stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $14.36, for a total value of $35,900.00. Following the sale, the director now directly owns 203,348 shares of the company's stock, valued at $2,920,077.28. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,500 shares of company stock valued at $1,158,610 in the last 90 days. Company insiders own 3.31% of the company's stock.
LC has been the topic of a number of research reports. Maxim Group raised their price target on shares of LendingClub from $16.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods raised their target price on LendingClub from $15.00 to $17.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $17.00 price target (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. StockNews.com downgraded LendingClub from a "hold" rating to a "sell" rating in a research note on Friday, October 25th. Finally, Compass Point lifted their target price on shares of LendingClub from $15.00 to $19.00 and gave the stock a "buy" rating in a research note 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.63.
Check Out Our Latest Report on 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.
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