486,924 Shares in LendingClub Co. (NYSE:LC) Bought by Wellington Management Group LLP

Wellington Management Group LLP bought a new stake in shares of LendingClub Co. (NYSE:LC) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 486,924 shares of the credit services provider’s stock, valued at approximately $2,970,000. Wellington Management Group LLP owned about 0.44% of LendingClub at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. lifted its holdings in shares of LendingClub by 526.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,884,751 shares of the credit services provider’s stock worth $11,497,000 after purchasing an additional 1,583,882 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in LendingClub by 173.2% in the first quarter. Balyasny Asset Management L.P. now owns 2,241,362 shares of the credit services provider’s stock valued at $16,160,000 after buying an additional 1,420,857 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of LendingClub by 11.8% during the third quarter. Vanguard Group Inc. now owns 13,111,119 shares of the credit services provider’s stock valued at $144,878,000 after acquiring an additional 1,381,527 shares during the period. Goldman Sachs Group Inc. grew its position in shares of LendingClub by 348.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,166,354 shares of the credit services provider’s stock worth $18,405,000 after acquiring an additional 905,980 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of LendingClub by 47.3% in the 2nd quarter. Renaissance Technologies LLC now owns 2,109,590 shares of the credit services provider’s stock worth $20,569,000 after acquiring an additional 677,070 shares during the period. 74.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of LendingClub in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.08.

LendingClub Stock Up 2.9 %

LendingClub stock opened at $8.68 on Thursday. LendingClub Co. has a 52 week low of $4.73 and a 52 week high of $10.92. The stock has a market cap of $957.81 million, a price-to-earnings ratio of 24.10 and a beta of 1.98. The company’s 50-day moving average price is $8.36 and its two-hundred day moving average price is $7.23. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 0.01.

LendingClub (NYSE:LC) last announced its earnings results on Tuesday, January 30th. The credit services provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.02 by $0.07. The firm had revenue of $185.60 million for the quarter, compared to analysts’ expectations of $182.13 million. LendingClub had a return on equity of 3.21% and a net margin of 4.50%. The firm’s quarterly revenue was down 29.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 earnings per share. On average, analysts expect that LendingClub Co. will post 0.25 EPS for the current fiscal year.

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.