Brighton Jones LLC increased its holdings in shares of LendingClub Co. (NYSE:LC) by 14.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 214,038 shares of the credit services provider’s stock after purchasing an additional 26,734 shares during the quarter. Brighton Jones LLC’s holdings in LendingClub were worth $3,881,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of LC. Nordea Investment Management AB acquired a new stake in LendingClub in the first quarter valued at approximately $2,775,000. Russell Investments Group Ltd. grew its position in LendingClub by 15.4% in the second quarter. Russell Investments Group Ltd. now owns 156,003 shares of the credit services provider’s stock valued at $2,827,000 after acquiring an additional 20,800 shares in the last quarter. Alliancebernstein L.P. grew its position in LendingClub by 38.9% in the first quarter. Alliancebernstein L.P. now owns 89,100 shares of the credit services provider’s stock valued at $1,472,000 after acquiring an additional 24,960 shares in the last quarter. Emerald Advisers LLC acquired a new stake in LendingClub in the second quarter valued at approximately $145,000. Finally, Tortoise Index Solutions LLC acquired a new stake in LendingClub in the second quarter valued at approximately $63,000. 83.78% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on LC. TheStreet upgraded LendingClub from a “d+” rating to a “c” rating in a research note on Thursday, July 29th. Maxim Group upgraded LendingClub from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Friday, August 20th. Credit Suisse Group increased their target price on LendingClub from $16.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, July 29th. Zacks Investment Research upgraded LendingClub from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Tuesday, June 29th. Finally, Wedbush increased their target price on LendingClub from $25.00 to $33.50 and gave the company an “outperform” rating in a research note on Thursday, July 29th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $22.00.
LendingClub (NYSE:LC) last announced its quarterly earnings data on Wednesday, July 28th. The credit services provider reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.50. The firm had revenue of $204.38 million for the quarter, compared to analysts’ expectations of $133.43 million. LendingClub had a negative return on equity of 11.22% and a negative net margin of 21.42%. Sell-side analysts expect that LendingClub Co. will post -0.12 EPS for the current year.
In other LendingClub news, insider Annie Armstrong sold 3,686 shares of the firm’s stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $31.37, for a total value of $115,629.82. Following the sale, the insider now directly owns 70,710 shares in the company, valued at $2,218,172.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael P. Zeisser purchased 1,937 shares of the stock in a transaction dated Friday, September 3rd. The shares were acquired at an average cost of $31.00 per share, for a total transaction of $60,047.00. Following the completion of the acquisition, the director now directly owns 38,062 shares of the company’s stock, valued at approximately $1,179,922. The disclosure for this purchase can be found here. Insiders sold 14,243 shares of company stock worth $352,070 over the last quarter. 3.17% of the stock is currently owned by company insiders.
LendingClub Company Profile
LendingClub Corp. engages in the operation of education and patient finance and auto loan services. Its loan product types consists of personal, education and patient finance, and auto. The company was founded by Renaud Laplanche and Soulaiman Htite on October 2, 2006 and is headquartered in San Francisco, CA.
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