Deutsche Bank AG Sells 2,655 Shares of LendingClub Co. (NYSE:LC)

Deutsche Bank AG reduced its position in shares of LendingClub Co. (NYSE:LC) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 183,608 shares of the credit services provider’s stock after selling 2,655 shares during the period. Deutsche Bank AG owned about 0.19% of LendingClub worth $5,185,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in LC. Spire Wealth Management raised its stake in shares of LendingClub by 107.8% in the third quarter. Spire Wealth Management now owns 1,195 shares of the credit services provider’s stock worth $34,000 after acquiring an additional 620 shares during the last quarter. First Quadrant L P CA bought a new position in shares of LendingClub in the third quarter worth about $41,000. Itau Unibanco Holding S.A. bought a new position in shares of LendingClub in the second quarter worth about $46,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of LendingClub by 183.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,681 shares of the credit services provider’s stock worth $85,000 after acquiring an additional 3,031 shares during the last quarter. Finally, Advisor Group Holdings Inc. raised its stake in shares of LendingClub by 2,857.2% in the second quarter. Advisor Group Holdings Inc. now owns 5,737 shares of the credit services provider’s stock worth $104,000 after acquiring an additional 5,543 shares during the last quarter. 80.33% of the stock is owned by institutional investors.

Shares of NYSE LC opened at $24.11 on Friday. The stock has a market cap of $2.41 billion, a P/E ratio of -56.07 and a beta of 2.04. The firm has a 50 day moving average price of $30.80 and a 200 day moving average price of $28.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.19 and a current ratio of 1.35. LendingClub Co. has a 52-week low of $9.50 and a 52-week high of $49.21.

LendingClub (NYSE:LC) last released its quarterly earnings results on Wednesday, October 27th. The credit services provider reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.64. The company had revenue of $246.20 million during the quarter, compared to analysts’ expectations of $221.96 million. LendingClub had a negative net margin of 5.88% and a positive return on equity of 2.56%. The business’s quarterly revenue was up 229.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.25) earnings per share. Analysts predict that LendingClub Co. will post 0.6 earnings per share for the current fiscal year.

LC has been the subject of several analyst reports. Maxim Group lifted their price target on shares of LendingClub from $35.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 1st. Zacks Investment Research upgraded shares of LendingClub from a “hold” rating to a “strong-buy” rating and set a $29.00 price target for the company in a research report on Wednesday, January 5th. Seaport Res Ptn reiterated a “buy” rating on shares of LendingClub in a research report on Tuesday. Janney Montgomery Scott upgraded shares of LendingClub from a “neutral” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Wednesday. Finally, Credit Suisse Group lifted their price target on shares of LendingClub from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, October 28th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $41.67.

In other news, insider Annie Armstrong sold 3,317 shares of the business’s stock in a transaction on Friday, January 7th. The shares were sold at an average price of $22.35, for a total value of $74,134.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Susan C. Athey sold 4,338 shares of the business’s stock in a transaction on Wednesday, December 15th. The stock was sold at an average price of $26.10, for a total transaction of $113,221.80. The disclosure for this sale can be found here. Insiders sold 15,396 shares of company stock valued at $481,536 in the last quarter. Corporate insiders own 4.48% of the company’s stock.

About LendingClub

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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Institutional Ownership by Quarter for LendingClub (NYSE:LC)

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