California Public Employees Retirement System reduced its position in shares of LendingClub Corp (NYSE:LC) by 49.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,928 shares of the credit services provider’s stock after selling 121,124 shares during the period. California Public Employees Retirement System owned about 0.14% of LendingClub worth $1,595,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of LC. Aperio Group LLC acquired a new stake in LendingClub during the second quarter worth approximately $32,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in LendingClub during the second quarter worth approximately $54,000. Mizuho Securities Co. Ltd. acquired a new stake in LendingClub during the second quarter worth approximately $66,000. Prudential Financial Inc. grew its position in LendingClub by 9.0% during the second quarter. Prudential Financial Inc. now owns 23,470 shares of the credit services provider’s stock worth $77,000 after buying an additional 1,930 shares in the last quarter. Finally, Bank of Montreal Can grew its position in LendingClub by 217.9% during the second quarter. Bank of Montreal Can now owns 39,992 shares of the credit services provider’s stock worth $656,000 after buying an additional 27,413 shares in the last quarter. 92.06% of the stock is owned by institutional investors.
A number of equities research analysts recently issued reports on the company. BTIG Research reduced their price target on LendingClub from $30.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Maxim Group reaffirmed a “buy” rating and issued a $23.00 target price on shares of LendingClub in a report on Thursday, November 7th. ValuEngine raised LendingClub from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research downgraded LendingClub from a “buy” rating to a “hold” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $20.60.
LendingClub (NYSE:LC) last released its quarterly earnings data on Tuesday, November 5th. The credit services provider reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.08. LendingClub had a negative return on equity of 1.02% and a negative net margin of 5.91%. The company had revenue of $204.90 million for the quarter, compared to the consensus estimate of $204.63 million. During the same quarter last year, the business posted $0.03 EPS. LendingClub’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, analysts forecast that LendingClub Corp will post -0.04 earnings per share for the current year.
In related news, insider Valerie Kay sold 1,900 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $14.54, for a total transaction of $27,626.00. Following the completion of the transaction, the insider now directly owns 53,565 shares of the company’s stock, valued at approximately $778,835.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Timothy Bogan sold 11,425 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $13.16, for a total value of $150,353.00. Following the transaction, the insider now directly owns 48,116 shares of the company’s stock, valued at $633,206.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,888 shares of company stock worth $598,342. 4.20% of the stock is currently owned by company insiders.
LendingClub Corporation operates an online lending marketplace platform that connects borrowers and investors in the United States. The company's marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient installment loans, auto refinance loans, and small business loans.
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