Nuveen Asset Management LLC acquired a new stake in LendingClub Corp (NYSE:LC) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,296,943 shares of the credit services provider’s stock, valued at approximately $4,253,000. Nuveen Asset Management LLC owned 1.49% of LendingClub at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of LC. Jane Street Group LLC grew its position in shares of LendingClub by 166.5% in the 2nd quarter. Jane Street Group LLC now owns 209,145 shares of the credit services provider’s stock valued at $686,000 after acquiring an additional 130,681 shares during the period. Bank of America Corp DE grew its position in shares of LendingClub by 165.1% in the 2nd quarter. Bank of America Corp DE now owns 461,358 shares of the credit services provider’s stock valued at $1,514,000 after acquiring an additional 287,353 shares during the period. UBS Asset Management Americas Inc. grew its position in shares of LendingClub by 9.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 223,465 shares of the credit services provider’s stock valued at $733,000 after acquiring an additional 19,328 shares during the period. Balyasny Asset Management LLC bought a new stake in shares of LendingClub during the 2nd quarter worth about $150,000. Finally, Marshall Wace LLP bought a new stake in shares of LendingClub during the 1st quarter worth about $509,000.
In other LendingClub news, CFO Valerie Kay sold 10,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $24.53, for a total transaction of $245,300.00. Also, Director Susan C. Athey sold 6,000 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $15.04, for a total transaction of $90,240.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,563 shares of company stock valued at $510,603. 4.20% of the stock is owned by company insiders.
Several analysts recently commented on LC shares. Maxim Group reaffirmed a “buy” rating and set a $23.00 target price on shares of LendingClub in a report on Thursday. BTIG Research reduced their target price on shares of LendingClub from $30.00 to $23.00 and set a “buy” rating for the company in a report on Monday, October 14th. ValuEngine raised shares of LendingClub from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded shares of LendingClub from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Saturday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. LendingClub has an average rating of “Buy” and a consensus target price of $20.80.
LC traded up $0.11 during trading on Friday, reaching $14.76. 505,843 shares of the company’s stock were exchanged, compared to its average volume of 551,475. The company has a current ratio of 7.06, a quick ratio of 5.81 and a debt-to-equity ratio of 2.11. LendingClub Corp has a one year low of $10.89 and a one year high of $18.85. The firm has a fifty day moving average price of $12.90 and a two-hundred day moving average price of $9.68. The stock has a market capitalization of $1.27 billion, a PE ratio of -42.17 and a beta of 1.60.
LendingClub (NYSE:LC) last released its quarterly earnings data on Tuesday, November 5th. The credit services provider reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.08. The firm had revenue of $204.90 million for the quarter, compared to the consensus estimate of $204.63 million. LendingClub had a negative net margin of 5.91% and a negative return on equity of 1.02%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 earnings per share. Sell-side analysts expect that LendingClub Corp will post -0.13 earnings per share for the current year.
LendingClub Corporation operates an online lending marketplace platform that connects borrowers and investors in the United States. The company's marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient installment loans, auto refinance loans, and small business loans.
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