Penserra Capital Management LLC Reduces Holdings in LendingClub Corp (NYSE:LC)

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Penserra Capital Management LLC trimmed its holdings in shares of LendingClub Corp (NYSE:LC) by 89.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,428 shares of the credit services provider’s stock after selling 37,677 shares during the quarter. Penserra Capital Management LLC’s holdings in LendingClub were worth $57,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of LendingClub by 165.1% in the 2nd quarter. Bank of America Corp DE now owns 461,358 shares of the credit services provider’s stock worth $1,514,000 after purchasing an additional 287,353 shares in the last quarter. Jane Street Group LLC raised its holdings in LendingClub by 166.5% in the 2nd quarter. Jane Street Group LLC now owns 209,145 shares of the credit services provider’s stock worth $686,000 after purchasing an additional 130,681 shares during the period. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in LendingClub during the third quarter valued at $83,981,000. Assenagon Asset Management S.A. purchased a new position in LendingClub during the third quarter valued at $2,056,000. Finally, UBS Asset Management Americas Inc. grew its holdings in LendingClub by 9.5% during the second quarter. UBS Asset Management Americas Inc. now owns 223,465 shares of the credit services provider’s stock valued at $733,000 after purchasing an additional 19,328 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently commented on LC. Maxim Group reaffirmed a “buy” rating and issued a $23.00 price objective on shares of LendingClub in a research note on Thursday, November 7th. BTIG Research cut their price objective on LendingClub from $30.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Zacks Investment Research lowered shares of LendingClub from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, ValuEngine upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $20.60.

In other news, insider Timothy Bogan sold 11,425 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $13.16, for a total value of $150,353.00. Following the transaction, the insider now owns 48,116 shares of the company’s stock, valued at $633,206.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Valerie Kay sold 1,900 shares of the company’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 transaction, the insider now owns 53,565 shares of the company’s stock, valued at approximately $778,835.10. The disclosure for this sale can be found here. Insiders have sold 35,688 shares of company stock valued at $595,700 in the last quarter. 4.20% of the stock is currently owned by company insiders.

Shares of LC stock opened at $12.68 on Wednesday. LendingClub Corp has a 52-week low of $10.89 and a 52-week high of $18.85. The company has a debt-to-equity ratio of 1.97, a quick ratio of 4.20 and a current ratio of 5.93. The firm has a market capitalization of $1.22 billion, a PE ratio of -36.23 and a beta of 1.62. The stock has a fifty day simple moving average of $13.30 and a two-hundred day simple moving average of $10.91.

LendingClub (NYSE:LC) last announced its quarterly earnings data on Tuesday, November 5th. The credit services provider reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.08. The business had revenue of $204.90 million for the quarter, compared to the consensus estimate of $204.63 million. LendingClub had a negative return on equity of 1.02% and a negative net margin of 5.91%. The business’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 earnings per share. On average, sell-side analysts forecast that LendingClub Corp will post -0.04 EPS for the current fiscal year.

LendingClub Company Profile

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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Institutional Ownership by Quarter for LendingClub (NYSE:LC)

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