Metropolitan Life Insurance Co. NY Raises Stake in LendingClub Corporation (NYSE:LC)

Metropolitan Life Insurance Co. NY raised its stake in shares of LendingClub Corporation (NYSE:LC) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 230,869 shares of the credit services provider’s stock after buying an additional 2,761 shares during the period. Metropolitan Life Insurance Co. NY owned about 0.06% of LendingClub Corporation worth $1,267,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of LC. Prudential Financial Inc. raised its position in shares of LendingClub Corporation by 3.6% in the first quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock valued at $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 in the last quarter. GSA Capital Partners LLP acquired a new position in shares of LendingClub Corporation during the fourth quarter valued at about $166,000. Two Sigma Investments LP acquired a new position in shares of LendingClub Corporation during the fourth quarter valued at about $167,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of LendingClub Corporation during the fourth quarter valued at about $177,000. Institutional investors and hedge funds own 90.92% of the company’s stock.

Shares of LendingClub Corporation (NYSE:LC) opened at 5.80 on Friday. The firm’s market capitalization is $2.39 billion. LendingClub Corporation has a 12-month low of $4.64 and a 12-month high of $6.78. The stock’s 50 day moving average price is $5.42 and its 200 day moving average price is $5.63.

LendingClub Corporation (NYSE:LC) last released its quarterly earnings results on Monday, August 7th. The credit services provider reported ($0.06) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.06). The firm had revenue of $139.60 million for the quarter, compared to the consensus estimate of $134.02 million. LendingClub Corporation had a negative return on equity of 11.97% and a negative net margin of 24.52%. The company’s revenue for the quarter was up 35.0% on a year-over-year basis. During the same period last year, the business posted ($0.09) EPS. Equities research analysts expect that LendingClub Corporation will post $0.05 earnings per share for the current year.

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A number of equities analysts have weighed in on the company. UBS AG raised LendingClub Corporation from a “neutral” rating to a “positive” rating in a research report on Monday, May 1st. Citigroup Inc. reaffirmed a “neutral” rating and set a $6.50 price target (up previously from $6.00) on shares of LendingClub Corporation in a research report on Thursday. Zacks Investment Research raised LendingClub Corporation from a “sell” rating to a “hold” rating and set a $6.50 price target for the company in a research report on Tuesday, August 8th. Vetr cut LendingClub Corporation from a “strong-buy” rating to a “hold” rating and set a $6.55 price objective on the stock. in a research note on Wednesday. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $6.50 price objective on shares of LendingClub Corporation in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. LendingClub Corporation currently has an average rating of “Hold” and a consensus target price of $6.72.

In other news, COO Sameer Gulati sold 8,305 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $5.08, for a total value of $42,189.40. Following the transaction, the chief operating officer now directly owns 265,657 shares in the company, valued at approximately $1,349,537.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Thomas W. Casey sold 5,254 shares of LendingClub Corporation stock in a transaction on Friday, May 26th. The shares were sold at an average price of $5.65, for a total value of $29,685.10. Following the transaction, the chief financial officer now owns 31,203 shares in the company, valued at $176,296.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 329,149 shares of company stock worth $1,883,699. Company insiders own 11.40% of the company’s stock.

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)

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