Verition Fund Management LLC raised its position in LendingClub Corporation (NYSE:LC) by 336.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,089 shares of the credit services provider’s stock after buying an additional 57,889 shares during the quarter. Verition Fund Management LLC’s holdings in LendingClub Corporation were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LC. First Trust Advisors LP lifted its stake in LendingClub Corporation by 10.7% in the first quarter. First Trust Advisors LP now owns 123,512 shares of the credit services provider’s stock valued at $678,000 after buying an additional 11,978 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in LendingClub Corporation by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 1,534,776 shares of the credit services provider’s stock valued at $8,426,000 after buying an additional 71,795 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in LendingClub Corporation by 24.1% in the first quarter. UBS Asset Management Americas Inc. now owns 170,708 shares of the credit services provider’s stock valued at $937,000 after buying an additional 33,116 shares during the last quarter. Karp Capital Management Corp purchased a new stake in LendingClub Corporation in the first quarter valued at approximately $321,000. Finally, Parametric Portfolio Associates LLC lifted its stake in LendingClub Corporation by 1.7% in the first quarter. Parametric Portfolio Associates LLC now owns 180,740 shares of the credit services provider’s stock valued at $992,000 after buying an additional 2,934 shares during the last quarter. Institutional investors own 87.54% of the company’s stock.

A number of equities research analysts have weighed in on LC shares. ValuEngine upgraded LendingClub Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Vetr cut LendingClub Corporation from a “buy” rating to a “hold” rating and set a $6.55 price target for the company. in a research note on Monday, September 4th. Canaccord Genuity restated a “hold” rating and set a $7.00 price target on shares of LendingClub Corporation in a research note on Sunday, October 1st. CIBC upgraded LendingClub Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 3rd. Finally, BidaskClub cut LendingClub Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $6.78.

In other news, CEO Scott Sanborn sold 46,667 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $5.77, for a total value of $269,268.59. Following the sale, the chief executive officer now owns 970,337 shares of the company’s stock, valued at approximately $5,598,844.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy Bogan sold 25,000 shares of the business’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $6.50, for a total value of $162,500.00. The disclosure for this sale can be found here. Insiders sold a total of 213,070 shares of company stock worth $1,283,225 in the last three months. Company insiders own 11.40% of the company’s stock.

LendingClub Corporation (LC) opened at 6.00 on Friday. The firm’s market cap is $2.47 billion. LendingClub Corporation has a one year low of $4.64 and a one year high of $6.78. The company’s 50-day moving average price is $6.20 and its 200-day moving average price is $5.79.

LendingClub Corporation (NYSE:LC) last posted its quarterly earnings data on Monday, August 7th. The credit services provider reported ($0.06) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.06). LendingClub Corporation had a negative return on equity of 11.97% and a negative net margin of 24.52%. The company had revenue of $139.60 million for the quarter, compared to the consensus estimate of $134.02 million. During the same quarter in the previous year, the business earned ($0.09) EPS. The company’s quarterly revenue was up 35.0% compared to the same quarter last year. On average, analysts anticipate that LendingClub Corporation will post $0.04 EPS for the current year.

TRADEMARK VIOLATION NOTICE: “Verition Fund Management LLC Raises Holdings in LendingClub Corporation (LC)” was originally posted by Daily Political and is the sole property of of Daily Political. If you are reading this piece on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The original version of this piece can be accessed at https://www.dailypolitical.com/2017/10/21/verition-fund-management-llc-raises-holdings-in-lendingclub-corporation-lc.html.

About LendingClub Corporation

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.

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

Receive News & Ratings for LendingClub Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LendingClub Corporation and related companies with MarketBeat.com's FREE daily email newsletter.