Point72 Asset Management L.P. Reduces Holdings in LendingClub Co. (NYSE:LC)

Point72 Asset Management L.P. reduced its stake in shares of LendingClub Co. (NYSE:LC) by 58.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 637,932 shares of the credit services provider’s stock after selling 909,410 shares during the quarter. Point72 Asset Management L.P. owned about 0.57% of LendingClub worth $10,328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of LendingClub by 353.1% during the fourth quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider’s stock worth $61,515,000 after acquiring an additional 2,961,050 shares during the last quarter. Driehaus Capital Management LLC increased its stake in LendingClub by 229.1% in the fourth quarter. Driehaus Capital Management LLC now owns 3,588,799 shares of the credit services provider’s stock valued at $58,103,000 after purchasing an additional 2,498,318 shares during the period. Balyasny Asset Management L.P. raised its holdings in shares of LendingClub by 196.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider’s stock valued at $34,505,000 after buying an additional 1,412,568 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of LendingClub by 9.3% in the fourth quarter. American Century Companies Inc. now owns 1,895,699 shares of the credit services provider’s stock valued at $30,691,000 after buying an additional 160,916 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of LendingClub by 2.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,839,360 shares of the credit services provider’s stock worth $29,779,000 after buying an additional 49,996 shares during the period. 74.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LC has been the subject of several analyst reports. Keefe, Bruyette & Woods reduced their price objective on LendingClub from $15.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a report on Tuesday, May 6th. Piper Sandler reiterated an “overweight” rating and issued a $19.00 price objective (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their price objective on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.75.

Insider Buying and Selling at LendingClub

In other news, Director Michael P. Zeisser purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, April 30th. The stock was acquired at an average price of $9.35 per share, with a total value of $187,000.00. Following the purchase, the director now directly owns 174,138 shares of the company’s stock, valued at $1,628,190.30. This represents a 12.98% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Scott Sanborn sold 5,250 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $10.65, for a total transaction of $55,912.50. Following the completion of the sale, the chief executive officer now directly owns 1,287,282 shares in the company, valued at approximately $13,709,553.30. The trade was a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,000 shares of company stock valued at $313,898. Corporate insiders own 3.19% of the company’s stock.

LendingClub Stock Performance

LendingClub stock opened at $10.62 on Monday. The company has a market cap of $1.21 billion, a P/E ratio of 23.60 and a beta of 2.35. LendingClub Co. has a one year low of $7.81 and a one year high of $18.75. The business has a fifty day moving average of $10.26 and a two-hundred day moving average of $13.38.

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

LendingClub Company 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.