LendingClub Corporation $LC Shares Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS boosted its stake in LendingClub Corporation (NYSE:LC) by 5.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 25,840 shares of the credit services provider’s stock after purchasing an additional 1,300 shares during the period. KLP Kapitalforvaltning AS’s holdings in LendingClub were worth $311,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC grew its stake in shares of LendingClub by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 92,061 shares of the credit services provider’s stock valued at $1,107,000 after buying an additional 1,496 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in LendingClub by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,230 shares of the credit services provider’s stock valued at $178,000 after acquiring an additional 1,730 shares in the last quarter. Optimize Financial Inc increased its stake in LendingClub by 6.4% during the first quarter. Optimize Financial Inc now owns 32,628 shares of the credit services provider’s stock worth $337,000 after purchasing an additional 1,956 shares during the period. Citizens Financial Group Inc. RI lifted its position in shares of LendingClub by 9.5% during the first quarter. Citizens Financial Group Inc. RI now owns 23,120 shares of the credit services provider’s stock worth $239,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of LendingClub by 1,427.2% in the first quarter. Quarry LP now owns 2,810 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 2,626 shares during the period. 74.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at LendingClub

In other LendingClub news, Director Erin Selleck sold 2,390 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $16.82, for a total value of $40,199.80. Following the transaction, the director directly owned 73,987 shares in the company, valued at $1,244,461.34. This represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew Labenne sold 20,903 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $17.04, for a total transaction of $356,187.12. Following the completion of the transaction, the chief financial officer owned 181,750 shares of the company’s stock, valued at approximately $3,097,020. The trade was a 10.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,248 shares of company stock valued at $1,706,038 over the last three months. 3.31% of the stock is owned by corporate insiders.

LendingClub Price Performance

NYSE:LC opened at $15.39 on Monday. LendingClub Corporation has a 12 month low of $7.90 and a 12 month high of $18.75. The firm has a market capitalization of $1.77 billion, a PE ratio of 24.05 and a beta of 2.48. The business’s fifty day moving average price is $16.17 and its 200 day moving average price is $13.03.

LendingClub (NYSE:LC) last released its quarterly earnings data on Tuesday, July 29th. The credit services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.18. LendingClub had a return on equity of 5.66% and a net margin of 8.36%.The business had revenue of $248.44 million during the quarter, compared to analysts’ expectations of $227.04 million. During the same period in the prior year, the firm posted $0.13 EPS. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts anticipate that LendingClub Corporation will post 0.72 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of LendingClub from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Keefe, Bruyette & Woods upped their price objective on LendingClub from $14.00 to $16.50 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of LendingClub in a report on Wednesday, October 8th. Citigroup began coverage on LendingClub in a report on Monday, July 7th. They set a “market perform” rating on the stock. Finally, Citizens Jmp started coverage on LendingClub in a research report on Monday, July 7th. They issued a “market perform” rating on the stock. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.57.

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.