Swiss National Bank bought a new stake in shares of LendingClub Corp. (NYSE:LC) during the second quarter, Holdings Channel reports. The fund bought 463,300 shares of the company’s stock, valued at approximately $1,992,000. Swiss National Bank owned approximately 0.12% of LendingClub Corp. as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LC. Commerzbank Aktiengesellschaft FI raised its position in LendingClub Corp. by 136.0% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 131,756 shares of the company’s stock worth $567,000 after buying an additional 75,928 shares during the period. Evercore Wealth Management LLC raised its position in LendingClub Corp. by 64.0% in the second quarter. Evercore Wealth Management LLC now owns 2,740,353 shares of the company’s stock worth $11,783,000 after buying an additional 1,069,870 shares during the period. California State Teachers Retirement System raised its position in LendingClub Corp. by 388.0% in the second quarter. California State Teachers Retirement System now owns 689,832 shares of the company’s stock worth $2,966,000 after buying an additional 548,469 shares during the period. Bank of New York Mellon Corp raised its position in LendingClub Corp. by 135.1% in the second quarter. Bank of New York Mellon Corp now owns 1,114,523 shares of the company’s stock worth $4,793,000 after buying an additional 640,473 shares during the period. Finally, Aberdeen Asset Management PLC UK acquired a new stake in shares of LendingClub Corp. during the second quarter valued at about $434,000. 83.89% of the stock is owned by institutional investors and hedge funds.

LendingClub Corp. (NYSE:LC) traded up 0.16% during mid-day trading on Wednesday, reaching $6.11. The company’s stock had a trading volume of 3,716,217 shares. The company has a 50 day moving average of $5.42 and a 200-day moving average of $5.84. The stock’s market cap is $2.39 billion. LendingClub Corp. has a 52-week low of $3.44 and a 52-week high of $15.00.

LendingClub Corp. (NYSE:LC) last posted its earnings results on Monday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.07. LendingClub Corp. had a negative net margin of 14.22% and a negative return on equity of 2.93%. The business earned $102.40 million during the quarter, compared to analyst estimates of $110.65 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. Equities analysts forecast that LendingClub Corp. will post ($0.15) earnings per share for the current year.

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $5.00 price objective on shares of LendingClub Corp. in a research note on Monday, August 15th. Vetr downgraded LendingClub Corp. from a “hold” rating to a “sell” rating and set a $5.36 price objective for the company. in a research note on Monday, September 12th. Morgan Stanley reissued an “equal weight” rating on shares of LendingClub Corp. in a research note on Monday, September 12th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $4.30 price objective (down from $4.40) on shares of LendingClub Corp. in a research note on Tuesday, June 21st. Finally, Craig Hallum reissued a “hold” rating on shares of LendingClub Corp. in a research note on Monday, June 20th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $13.03.

In other news, COO Sameer Gulati sold 5,489 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $4.60, for a total transaction of $25,249.40. Following the completion of the transaction, the chief operating officer now directly owns 970,623 shares of the company’s stock, valued at $4,464,865.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sandeep Bhandari sold 9,771 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $5.55, for a total value of $54,229.05. Following the transaction, the insider now directly owns 219,600 shares of the company’s stock, valued at $1,218,780. The disclosure for this sale can be found here. Insiders own 11.40% of the company’s stock.

LendingClub Corp. Company Profile

LendingClub Corporation (Lending Club) provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that is only available on a limited basis to large institutional investors.

5 Day Chart for NYSE:LC

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