Sumitomo Mitsui Trust Holdings Inc. Has $15.38 Million Stake in LendingClub Corporation (LC)

Sumitomo Mitsui Trust Holdings Inc. raised its position in LendingClub Corporation (NYSE:LC) by 1,284.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,791,600 shares of the credit services provider’s stock after buying an additional 2,590,000 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.69% of LendingClub Corporation worth $15,382,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Prudential Financial Inc. boosted its position in LendingClub Corporation by 3.6% in the first quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock worth $119,000 after buying an additional 760 shares during the last quarter. Teacher Retirement System of Texas boosted its position in LendingClub Corporation by 27.4% in the second quarter. Teacher Retirement System of Texas now owns 23,822 shares of the credit services provider’s stock worth $131,000 after buying an additional 5,130 shares during the last quarter. Blair William & Co. IL boosted its position in LendingClub Corporation by 11.3% in the second quarter. Blair William & Co. IL now owns 26,150 shares of the credit services provider’s stock worth $144,000 after buying an additional 2,650 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in LendingClub Corporation by 1,097.9% in the first quarter. Nisa Investment Advisors LLC now owns 34,740 shares of the credit services provider’s stock worth $191,000 after buying an additional 31,840 shares during the last quarter. Finally, Quantum Capital Management boosted its position in LendingClub Corporation by 151.7% in the first quarter. Quantum Capital Management now owns 36,876 shares of the credit services provider’s stock worth $202,000 after buying an additional 22,226 shares during the last quarter. 86.91% of the stock is owned by institutional investors.

LendingClub Corporation (NYSE:LC) opened at 6.31 on Friday. The firm has a 50-day moving average of $5.64 and a 200-day moving average of $5.60. LendingClub Corporation has a 52-week low of $4.64 and a 52-week high of $6.78. The stock’s market capitalization is $2.60 billion.

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

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A number of equities analysts have commented on the company. Vetr cut LendingClub Corporation from a “strong-buy” rating to a “hold” rating and set a $6.55 target price for the company. in a report on Wednesday, August 9th. Citigroup Inc. restated a “neutral” rating and issued a $6.50 price target (up from $6.00) on shares of LendingClub Corporation in a research report on Thursday, August 10th. Canaccord Genuity reiterated a “hold” rating and issued a $7.00 price objective on shares of LendingClub Corporation in a research report on Thursday, August 10th. Credit Suisse Group reiterated a “neutral” rating and issued a $8.00 price objective on shares of LendingClub Corporation in a research report on Thursday, August 10th. Finally, Zacks Investment Research lowered LendingClub Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $6.78.

In other news, COO Sameer Gulati sold 8,170 shares of the firm’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $5.70, for a total transaction of $46,569.00. Following the completion of the transaction, the chief operating officer now directly owns 258,102 shares of the company’s stock, valued at approximately $1,471,181.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Timothy Bogan sold 15,204 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $6.09, for a total transaction of $92,592.36. Following the transaction, the insider now directly owns 120,946 shares of the company’s stock, valued at $736,561.14. The disclosure for this sale can be found here. Insiders sold a total of 188,099 shares of company stock worth $1,118,285 over the last 90 days. Company insiders own 11.40% of the company’s stock.

LendingClub Corporation Company Profile

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.

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

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