Jacobs Levy Equity Management Inc. Sells 423,533 Shares of LendingClub Co. (NYSE:LC)

Jacobs Levy Equity Management Inc. reduced its holdings in shares of LendingClub Co. (NYSE:LC) by 22.2% in the first quarter, HoldingsChannel reports. The fund owned 1,486,420 shares of the credit services provider’s stock after selling 423,533 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in LendingClub were worth $13,066,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in LendingClub by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 11,446,014 shares of the credit services provider’s stock valued at $100,610,000 after acquiring an additional 175,706 shares during the period. Jackson Square Partners LLC lifted its position in LendingClub by 5.9% during the 4th quarter. Jackson Square Partners LLC now owns 9,723,943 shares of the credit services provider’s stock valued at $84,987,000 after acquiring an additional 541,538 shares during the period. Dimensional Fund Advisors LP lifted its position in LendingClub by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,652,580 shares of the credit services provider’s stock valued at $40,664,000 after acquiring an additional 73,515 shares during the period. Wellington Management Group LLP raised its holdings in LendingClub by 176.1% in the fourth quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock worth $11,749,000 after buying an additional 857,371 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in LendingClub by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 848,315 shares of the credit services provider’s stock worth $7,414,000 after buying an additional 16,298 shares during the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Erin Selleck sold 4,083 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $8.88, for a total transaction of $36,257.04. Following the completion of the transaction, the director now directly owns 54,571 shares of the company’s stock, valued at $484,590.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.31% of the company’s stock.

LendingClub Trading Up 11.4 %

NYSE LC traded up $1.28 during trading hours on Wednesday, hitting $12.47. 2,606,769 shares of the company’s stock traded hands, compared to its average volume of 1,410,177. The business’s fifty day moving average price is $9.04 and its two-hundred day moving average price is $8.67. The firm has a market capitalization of $1.39 billion, a P/E ratio of 36.68 and a beta of 2.06. LendingClub Co. has a 52 week low of $4.73 and a 52 week high of $12.79.

LendingClub (NYSE:LC) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. The business had revenue of $187.20 million during the quarter, compared to analyst estimates of $177.03 million. LendingClub had a net margin of 4.69% and a return on equity of 3.04%. The company’s revenue was down 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. On average, sell-side analysts expect that LendingClub Co. will post 0.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of LendingClub from $10.00 to $11.50 and gave the stock a “market perform” rating in a report on Wednesday. Piper Sandler reissued an “overweight” rating and set a $13.00 price objective (up from $10.00) on shares of LendingClub in a report on Wednesday. BTIG Research started coverage on shares of LendingClub in a report on Friday, June 7th. They set a “buy” rating and a $12.00 price objective for the company. Compass Point boosted their price objective on shares of LendingClub from $13.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Jefferies Financial Group boosted their price objective on shares of LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $12.64.

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.