Lido Advisors LLC Acquires Shares of 99,895 LendingClub Corporation $LC

Lido Advisors LLC bought a new stake in shares of LendingClub Corporation (NYSE:LC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 99,895 shares of the credit services provider’s stock, valued at approximately $1,202,000. Lido Advisors LLC owned 0.09% of LendingClub as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Senvest Management LLC increased its holdings in LendingClub by 23.5% in the second quarter. Senvest Management LLC now owns 5,881,290 shares of the credit services provider’s stock worth $70,752,000 after buying an additional 1,117,241 shares during the last quarter. Wellington Management Group LLP grew its position in LendingClub by 36.0% in the first quarter. Wellington Management Group LLP now owns 5,167,642 shares of the credit services provider’s stock worth $53,330,000 after acquiring an additional 1,368,057 shares in the last quarter. Driehaus Capital Management LLC grew its position in LendingClub by 8.6% in the first quarter. Driehaus Capital Management LLC now owns 3,897,322 shares of the credit services provider’s stock worth $40,220,000 after acquiring an additional 308,523 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of LendingClub by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,699,141 shares of the credit services provider’s stock worth $32,476,000 after purchasing an additional 34,221 shares during the last quarter. Finally, Long Focus Capital Management LLC raised its holdings in shares of LendingClub by 26.4% during the 1st quarter. Long Focus Capital Management LLC now owns 2,034,725 shares of the credit services provider’s stock valued at $20,998,000 after purchasing an additional 425,000 shares in the last quarter. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other LendingClub news, CFO Andrew Labenne sold 20,903 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $17.04, for a total value of $356,187.12. Following the sale, the chief financial officer directly owned 181,750 shares in the company, valued at $3,097,020. This trade represents a 10.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Scott Sanborn sold 30,000 shares of the company’s stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $19.29, for a total transaction of $578,700.00. Following the transaction, the chief executive officer directly owned 1,210,070 shares of the company’s stock, valued at $23,342,250.30. This represents a 2.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 80,903 shares of company stock worth $1,446,087 in the last ninety days. 3.19% of the stock is currently owned by insiders.

LendingClub Stock Performance

NYSE LC opened at $19.53 on Friday. The stock has a 50-day simple moving average of $16.91 and a 200 day simple moving average of $14.80. LendingClub Corporation has a twelve month low of $7.90 and a twelve month high of $19.88. The stock has a market capitalization of $2.25 billion, a PE ratio of 22.19 and a beta of 2.14.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Wednesday, October 22nd. The credit services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.30 by $0.07. LendingClub had a return on equity of 7.68% and a net margin of 10.94%.The company had revenue of $107.79 million for the quarter, compared to the consensus estimate of $256.27 million. During the same period in the previous year, the business posted $0.13 EPS. The company’s revenue for the quarter was up 31.8% on a year-over-year basis. As a group, equities research analysts forecast that LendingClub Corporation will post 0.72 EPS for the current fiscal year.

LendingClub announced that its board has authorized a share repurchase program on Wednesday, November 5th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the credit services provider to repurchase up to 4.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

LC has been the subject of a number of recent research reports. Piper Sandler reiterated an “overweight” rating and issued a $20.00 price objective (up from $18.00) on shares of LendingClub in a report on Thursday, October 23rd. BTIG Research upped their price target on LendingClub from $18.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. increased their price objective on LendingClub from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Thursday. Keefe, Bruyette & Woods boosted their target price on LendingClub from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Finally, Citizens Jmp raised LendingClub from a “market perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, LendingClub has an average rating of “Moderate Buy” and a consensus price target of $21.57.

About LendingClub

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.