LendingClub Co. (NYSE:LC) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. increased its stake in shares of LendingClub Co. (NYSE:LC) by 33.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 776,505 shares of the credit services provider’s stock after acquiring an additional 193,455 shares during the period. American Century Companies Inc. owned about 0.71% of LendingClub worth $4,737,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LC. Envestnet Asset Management Inc. acquired a new stake in LendingClub during the first quarter worth about $241,000. Advisor Group Holdings Inc. boosted its position in LendingClub by 27.2% during the first quarter. Advisor Group Holdings Inc. now owns 20,242 shares of the credit services provider’s stock worth $320,000 after purchasing an additional 4,334 shares in the last quarter. JPMorgan Chase & Co. boosted its position in LendingClub by 84.1% during the first quarter. JPMorgan Chase & Co. now owns 549,930 shares of the credit services provider’s stock worth $8,677,000 after purchasing an additional 251,160 shares in the last quarter. Raymond James & Associates purchased a new position in LendingClub during the first quarter worth approximately $438,000. Finally, PNC Financial Services Group Inc. boosted its position in LendingClub by 367.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,607 shares of the credit services provider’s stock worth $41,000 after purchasing an additional 2,049 shares in the last quarter. 74.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

LendingClub Stock Performance

NYSE LC opened at $8.68 on Thursday. The company has a market cap of $957.81 million, a PE ratio of 24.10 and a beta of 1.98. The stock’s 50 day simple moving average is $8.36 and its 200-day simple moving average is $7.23. LendingClub Co. has a 1-year low of $4.73 and a 1-year high of $10.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.89 and a quick ratio of 0.83.

LendingClub (NYSE:LC) last released its earnings results on Tuesday, January 30th. The credit services provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.07. The business had revenue of $185.60 million for the quarter, compared to the consensus estimate of $182.13 million. LendingClub had a return on equity of 3.21% and a net margin of 4.50%. The business’s quarterly revenue was down 29.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. As a group, equities research analysts anticipate that LendingClub Co. will post 0.25 EPS for the current fiscal year.

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.