Dimensional Fund Advisors LP Increases Stock Position in LendingClub Corporation $LC

Dimensional Fund Advisors LP increased its holdings in LendingClub Corporation (NYSE:LC) by 2.5% during the first quarter, HoldingsChannel.com reports. The fund owned 5,760,141 shares of the credit services provider’s stock after buying an additional 139,746 shares during the period. Dimensional Fund Advisors LP’s holdings in LendingClub were worth $82,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Osaic Holdings Inc. grew its position in LendingClub by 8.8% during the 2nd quarter. Osaic Holdings Inc. now owns 13,354 shares of the credit services provider’s stock worth $160,000 after purchasing an additional 1,084 shares during the last quarter. ProShare Advisors LLC increased its stake in LendingClub by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 20,704 shares of the credit services provider’s stock valued at $392,000 after purchasing an additional 1,335 shares during the period. SBI Securities Co. Ltd. raised its holdings in shares of LendingClub by 13.8% in the fourth quarter. SBI Securities Co. Ltd. now owns 13,533 shares of the credit services provider’s stock valued at $256,000 after buying an additional 1,645 shares during the last quarter. Interval Partners LP raised its holdings in shares of LendingClub by 0.8% in the third quarter. Interval Partners LP now owns 231,142 shares of the credit services provider’s stock valued at $3,511,000 after buying an additional 1,838 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of LendingClub by 0.8% during the first quarter. Swiss National Bank now owns 228,160 shares of the credit services provider’s stock worth $3,267,000 after buying an additional 1,900 shares during the period. Hedge funds and other institutional investors own 74.08% of the company’s stock.

Insider Activity at LendingClub

In related news, CEO Scott Sanborn sold 23,851 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $17.86, for a total value of $425,978.86. Following the completion of the sale, the chief executive officer owned 1,594,712 shares in the company, valued at $28,481,556.32. This trade represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jordan Cheng sold 5,500 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $17.00, for a total transaction of $93,500.00. Following the sale, the general counsel directly owned 113,574 shares in the company, valued at approximately $1,930,758. This represents a 4.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 119,750 shares of company stock valued at $2,183,691. Company insiders own 3.19% of the company’s stock.

LendingClub Price Performance

Shares of LC stock opened at $19.21 on Friday. The business’s fifty day moving average price is $18.52 and its 200 day moving average price is $17.10. The firm has a market capitalization of $2.22 billion, a PE ratio of 12.89 and a beta of 1.98. LendingClub Corporation has a 1-year low of $10.74 and a 1-year high of $21.67.

LendingClub (NYSE:LC) last released its earnings results on Monday, April 27th. The credit services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.06. The company had revenue of $252.25 million during the quarter, compared to the consensus estimate of $249.10 million. LendingClub had a return on equity of 11.92% and a net margin of 16.99%.LendingClub’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 earnings per share. Equities research analysts expect that LendingClub Corporation will post 1.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LC. Zacks Research raised LendingClub from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of LendingClub in a research note on Wednesday, May 6th. Finally, Stephens reaffirmed an “overweight” rating and set a $22.50 price objective (up from $21.00) on shares of LendingClub in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.07.

About LendingClub

LendingClub Corporation operates an online lending marketplace that connects borrowers seeking personal and small business credit with individual and institutional investors. The platform leverages technology to streamline the loan application and underwriting process, offering unsecured personal loans, auto refinancing, and small business loans. In addition to lending products, LendingClub provides high-yield savings accounts and certificates of deposit through its banking charter, following its acquisition of Radius Bank in 2021.

Founded in 2006 by Renaud Laplanche, LendingClub pioneered peer-to-peer lending in the United States, helping to democratize access to credit and investment opportunities.