Fmr LLC reduced its position in shares of LendingClub Corporation (NYSE:LC) by 22.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 60,000 shares of the credit services provider’s stock after selling 17,600 shares during the period. Fmr LLC’s holdings in LendingClub Corporation were worth $329,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in LC. Prudential Financial Inc. boosted its stake in LendingClub Corporation by 3.6% in the first quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock worth $119,000 after buying an additional 760 shares in the last quarter. Malaga Cove Capital LLC raised its position in shares of LendingClub Corporation by 3.7% in the first quarter. Malaga Cove Capital LLC now owns 27,800 shares of the credit services provider’s stock valued at $147,000 after buying an additional 1,000 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of LendingClub Corporation during the fourth quarter valued at approximately $177,000. Nisa Investment Advisors LLC raised its position in shares of LendingClub Corporation by 1,097.9% in the first quarter. Nisa Investment Advisors LLC now owns 34,740 shares of the credit services provider’s stock valued at $191,000 after buying an additional 31,840 shares during the last quarter. Finally, Quantum Capital Management raised its position in shares of LendingClub Corporation by 151.7% in the first quarter. Quantum Capital Management now owns 36,876 shares of the credit services provider’s stock valued at $202,000 after buying an additional 22,226 shares during the last quarter. Institutional investors and hedge funds own 90.92% of the company’s stock.

LendingClub Corporation (NYSE:LC) opened at 6.08 on Thursday. The stock’s 50 day moving average is $5.41 and its 200 day moving average is $5.62. LendingClub Corporation has a 12-month low of $4.64 and a 12-month high of $6.78. The stock’s market capitalization is $2.46 billion.

LendingClub Corporation (NYSE:LC) last released its quarterly earnings results on Monday, August 7th. The credit services provider reported ($0.06) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.06). LendingClub Corporation had a negative return on equity of 11.99% and a negative net margin of 24.52%. The business had revenue of $139.60 million during the quarter, compared to analysts’ expectations of $134.02 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share. The company’s quarterly revenue was up 35.0% compared to the same quarter last year. Equities research analysts forecast that LendingClub Corporation will post $0.05 EPS for the current fiscal year.

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LC has been the subject of several research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $8.00 price objective on shares of LendingClub Corporation in a research report on Tuesday, April 18th. Zacks Investment Research lowered shares of LendingClub Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Vetr raised shares of LendingClub Corporation from a “hold” rating to a “buy” rating and set a $6.10 price objective for the company in a research report on Wednesday, May 24th. UBS AG raised shares of LendingClub Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 3rd. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $7.00 price objective on shares of LendingClub Corporation in a research report on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $6.71.

In other LendingClub Corporation news, CEO Scott Sanborn sold 45,970 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $5.89, for a total value of $270,763.30. Following the completion of the transaction, the chief executive officer now owns 910,901 shares in the company, valued at $5,365,206.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Timothy Bogan sold 54,090 shares of the stock in a transaction on Friday, May 12th. The stock was sold at an average price of $5.84, for a total value of $315,885.60. Following the completion of the transaction, the insider now owns 160,739 shares of the company’s stock, valued at approximately $938,715.76. The disclosure for this sale can be found here. Insiders have sold 383,239 shares of company stock valued at $2,199,584 in the last 90 days. Company insiders own 11.40% of the company’s stock.

LendingClub Corporation Company Profile

LendingClub Corporation 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 has been closed to many investors and only available on a limited basis to large institutional investors.

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Institutional Ownership by Quarter for LendingClub Corporation (NYSE:LC)

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