Mirae Asset Global Investments Co. Ltd. Increases Stock Position in LendingClub Co. (NYSE:LC)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of LendingClub Co. (NYSE:LC) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 221,735 shares of the credit services provider’s stock after buying an additional 6,009 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.20% of LendingClub worth $1,938,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in LendingClub in the 1st quarter worth $30,000. PNC Financial Services Group Inc. raised its holdings in LendingClub by 367.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,607 shares of the credit services provider’s stock worth $41,000 after purchasing an additional 2,049 shares in the last quarter. Point72 Hong Kong Ltd raised its holdings in LendingClub by 251.3% in the 1st quarter. Point72 Hong Kong Ltd now owns 3,861 shares of the credit services provider’s stock worth $61,000 after purchasing an additional 2,762 shares in the last quarter. US Bancorp DE increased its stake in shares of LendingClub by 189.0% in the 2nd quarter. US Bancorp DE now owns 4,346 shares of the credit services provider’s stock worth $42,000 after acquiring an additional 2,842 shares in the last quarter. Finally, Point72 Middle East FZE bought a new position in shares of LendingClub in the 4th quarter worth about $54,000. 74.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Wedbush reiterated an “outperform” rating and issued a $11.00 price target on shares of LendingClub in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.30.

LendingClub Stock Performance

Shares of NYSE LC opened at $7.91 on Friday. The firm’s 50-day moving average price is $8.26 and its 200-day moving average price is $7.46. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.01. The company has a market cap of $873.35 million, a PE ratio of 21.97 and a beta of 1.98. LendingClub Co. has a 52-week low of $4.73 and a 52-week high of $10.92.

LendingClub (NYSE:LC) last posted its quarterly earnings data on Tuesday, January 30th. The credit services provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. LendingClub had a net margin of 4.50% and a return on equity of 3.21%. The company had revenue of $185.60 million for the quarter, compared to the consensus estimate of $182.13 million. During the same quarter last year, the firm posted $0.19 earnings per share. The firm’s revenue was down 29.3% compared to the same quarter last year. As a group, analysts anticipate that LendingClub Co. will post 0.23 EPS for the current year.

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.