Algert Global LLC Has $3.49 Million Position in LendingClub Co. (NYSE:LC)

Algert Global LLC trimmed its stake in shares of LendingClub Co. (NYSE:LC) by 29.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,695 shares of the credit services provider’s stock after selling 91,438 shares during the quarter. Algert Global LLC owned approximately 0.19% of LendingClub worth $3,492,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in shares of LendingClub by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider’s stock valued at $11,409,000 after buying an additional 45,307 shares during the period. Victory Capital Management Inc. grew its holdings in LendingClub by 301.0% during the 4th quarter. Victory Capital Management Inc. now owns 54,687 shares of the credit services provider’s stock worth $885,000 after acquiring an additional 41,048 shares during the last quarter. Raymond James Financial Inc. acquired a new position in LendingClub in the 4th quarter valued at approximately $1,696,000. Invesco Ltd. raised its stake in shares of LendingClub by 87.1% during the fourth quarter. Invesco Ltd. now owns 637,458 shares of the credit services provider’s stock valued at $10,320,000 after acquiring an additional 296,813 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of LendingClub during the fourth quarter worth $470,000. Institutional investors own 74.08% of the company’s stock.

Insider Activity

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $13.76, for a total value of $233,920.00. Following the completion of the transaction, the chief executive officer now owns 1,295,184 shares in the company, valued at $17,821,731.84. This represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael P. Zeisser bought 20,000 shares of the stock in a transaction dated Wednesday, April 30th. The shares were acquired at an average price of $9.35 per share, for a total transaction of $187,000.00. Following the completion of the purchase, the director now directly owns 174,138 shares in the company, valued at approximately $1,628,190.30. This trade represents a 12.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 39,750 shares of company stock worth $491,905 over the last quarter. 3.31% of the stock is currently owned by corporate insiders.

LendingClub Trading Down 2.6 %

NYSE:LC opened at $10.04 on Wednesday. LendingClub Co. has a 12 month low of $7.81 and a 12 month high of $18.75. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 22.30 and a beta of 2.35. The firm has a fifty day simple moving average of $10.38 and a two-hundred day simple moving average of $13.53.

LendingClub (NYSE:LC) last issued its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. LendingClub had a return on equity of 4.16% and a net margin of 6.52%. The company had revenue of $217.71 million during the quarter, compared to the consensus estimate of $213.71 million. During the same period last year, the business posted $0.11 EPS. The firm’s revenue for the quarter was up 21670.0% compared to the same quarter last year. Equities analysts predict that LendingClub Co. will post 0.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. Piper Sandler reaffirmed an “overweight” rating and set a $19.00 target price (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price objective on LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods dropped their price target on shares of LendingClub from $15.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, LendingClub has a consensus rating of “Moderate Buy” and a consensus target price of $15.75.

LendingClub Profile

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.