Quantitative Systematic Strategies LLC Takes Position in LendingClub Corp. (LC)
Quantitative Systematic Strategies LLC purchased a new stake in LendingClub Corp. (NYSE:LC) during the second quarter, Holdings Channel reports. The fund purchased 132,159 shares of the company’s stock, valued at approximately $600,000.
Several other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in LendingClub Corp. by 97.1% in the first quarter. Wellington Management Group LLP now owns 7,549,341 shares of the company’s stock valued at $62,659,000 after buying an additional 3,719,295 shares in the last quarter. Jackson Square Partners LLC raised its position in LendingClub Corp. by 21.0% in the first quarter. Jackson Square Partners LLC now owns 9,203,900 shares of the company’s stock valued at $76,392,000 after buying an additional 1,600,289 shares during the last quarter. ING Groep NV acquired a new position in LendingClub Corp. during the first quarter valued at approximately $8,300,000. Evergreen Capital Management LLC acquired a new position in LendingClub Corp. during the second quarter valued at approximately $2,205,000. Finally, River & Mercantile Asset Management LLP raised its position in LendingClub Corp. by 132.2% in the second quarter. River & Mercantile Asset Management LLP now owns 510,300 shares of the company’s stock valued at $2,191,000 after buying an additional 290,550 shares during the last quarter. 83.90% of the stock is currently owned by institutional investors.
LendingClub Corp. (NYSE:LC) traded down 2.18% during trading on Friday, reaching $5.38. 8,431,597 shares of the company’s stock were exchanged. LendingClub Corp. has a 52-week low of $3.44 and a 52-week high of $15.00. The company’s market capitalization is $2.10 billion. The stock’s 50-day moving average price is $5.84 and its 200-day moving average price is $5.58.
LendingClub Corp. (NYSE:LC) last announced 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. The company had revenue of $102.40 million for the quarter, compared to the consensus estimate of $110.65 million. LendingClub Corp. had a negative return on equity of 2.93% and a negative net margin of 14.22%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 EPS. Equities analysts expect that LendingClub Corp. will post ($0.14) earnings per share for the current year.
Several research firms recently commented on LC. FBR & Co restated a “hold” rating on shares of LendingClub Corp. in a report on Tuesday, June 28th. Vetr lowered shares of LendingClub Corp. from a “hold” rating to a “sell” rating and set a $5.36 price target on the stock. in a report on Monday, September 12th. Zacks Investment Research lowered shares of LendingClub Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Citigroup Inc. restated a “neutral” rating and issued a $5.00 price target on shares of LendingClub Corp. in a report on Tuesday, August 9th. Finally, Goldman Sachs Group Inc. raised their price target on shares of LendingClub Corp. from $4.30 to $4.70 and gave the company a “neutral” rating in a report on Wednesday, June 29th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $12.65.
In other news, COO Sameer Gulati sold 5,489 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $4,464,865.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sandeep Bhandari sold 9,771 shares of the company’s stock in a transaction that occurred on 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 owns 219,600 shares of the company’s stock, valued at $1,218,780. The disclosure for this sale can be found here. Company insiders own 11.40% of the company’s stock.
About LendingClub Corp.
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.
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