Senvest Management LLC Trims Stock Holdings in LendingClub Co. (NYSE:LC)

Senvest Management LLC reduced its holdings in shares of LendingClub Co. (NYSE:LC) by 22.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,479,587 shares of the credit services provider’s stock after selling 422,792 shares during the quarter. Senvest Management LLC owned about 1.32% of LendingClub worth $16,912,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Baader Bank Aktiengesellschaft bought a new position in LendingClub in the 2nd quarter worth about $600,000. GSA Capital Partners LLP boosted its position in shares of LendingClub by 47.3% in the third quarter. GSA Capital Partners LLP now owns 214,192 shares of the credit services provider’s stock valued at $2,448,000 after acquiring an additional 68,791 shares during the period. International Assets Investment Management LLC grew its stake in LendingClub by 813.3% during the third quarter. International Assets Investment Management LLC now owns 181,737 shares of the credit services provider’s stock valued at $2,077,000 after acquiring an additional 161,837 shares in the last quarter. Quest Partners LLC increased its holdings in LendingClub by 196.0% during the 3rd quarter. Quest Partners LLC now owns 141,214 shares of the credit services provider’s stock worth $1,614,000 after acquiring an additional 93,506 shares during the period. Finally, Interval Partners LP lifted its stake in LendingClub by 54.3% in the 2nd quarter. Interval Partners LP now owns 495,039 shares of the credit services provider’s stock worth $4,188,000 after purchasing an additional 174,130 shares in the last quarter. 74.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on LC. Maxim Group boosted their price target on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Compass Point boosted their target price on LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Piper Sandler restated an “overweight” rating and issued a $15.00 target price (up from $13.00) on shares of LendingClub in a research note on Thursday, October 24th. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, Wedbush boosted their price objective on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.38.

Insiders Place Their Bets

In other news, Director John C. Morris sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total value of $35,900.00. Following the transaction, the director now owns 203,348 shares in the company, valued at approximately $2,920,077.28. This trade represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $11.09, for a total transaction of $188,530.00. Following the completion of the transaction, the chief executive officer now directly owns 1,356,273 shares in the company, valued at approximately $15,041,067.57. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,500 shares of company stock valued at $996,940 over the last three months. Insiders own 3.31% of the company’s stock.

LendingClub Trading Up 5.2 %

Shares of NYSE LC opened at $16.73 on Friday. The stock’s 50-day moving average is $13.09 and its 200 day moving average is $10.95. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 36.37 and a beta of 2.01. LendingClub Co. has a 1-year low of $5.51 and a 1-year high of $16.75.

LendingClub (NYSE:LC) last posted its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.07 by $0.06. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The firm had revenue of $201.90 million for the quarter, compared to the consensus estimate of $190.40 million. During the same period last year, the firm posted $0.05 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. On average, analysts forecast that LendingClub Co. will post 0.47 EPS for the current fiscal year.

About LendingClub

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.