LendingClub Co. (NYSE:LC) Position Reduced by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC decreased its holdings in LendingClub Co. (NYSE:LC) by 81.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,943 shares of the credit services provider’s stock after selling 13,188 shares during the quarter. Tower Research Capital LLC TRC’s holdings in LendingClub were worth $48,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. MetLife Investment Management LLC grew its position in LendingClub by 4.8% in the fourth quarter. MetLife Investment Management LLC now owns 66,251 shares of the credit services provider’s stock worth $1,073,000 after buying an additional 3,064 shares during the last quarter. First Trust Advisors LP acquired a new position in LendingClub in the fourth quarter worth approximately $2,445,000. Cramer Rosenthal Mcglynn LLC acquired a new position in LendingClub in the fourth quarter worth approximately $13,432,000. Canada Pension Plan Investment Board grew its position in LendingClub by 105.7% in the fourth quarter. Canada Pension Plan Investment Board now owns 193,800 shares of the credit services provider’s stock worth $3,138,000 after buying an additional 99,600 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in LendingClub in the fourth quarter worth approximately $2,035,000. Institutional investors and hedge funds own 74.08% of the company’s stock.

Wall Street Analyst Weigh In

LC has been the topic of several recent research reports. Keefe, Bruyette & Woods decreased their price target on shares of LendingClub from $15.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Piper Sandler restated an “overweight” rating and issued a $19.00 target price (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their target price on LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Finally, StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, LendingClub has an average rating of “Moderate Buy” and a consensus price target of $15.75.

LendingClub Trading Up 5.5%

Shares of NYSE:LC opened at $11.16 on Tuesday. LendingClub Co. has a 1 year low of $7.81 and a 1 year high of $18.75. The business has a fifty day simple moving average of $10.26 and a 200 day simple moving average of $13.47. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 24.79 and a beta of 2.35.

LendingClub (NYSE:LC) last released its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The firm had revenue of $217.71 million during the quarter, compared to analysts’ expectations of $213.71 million. LendingClub had a return on equity of 4.16% and a net margin of 6.52%. The business’s revenue for the quarter was up 21670.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 earnings per share. On average, sell-side analysts forecast that LendingClub Co. will post 0.72 EPS for the current year.

Insider Activity at LendingClub

In other news, Director Michael P. Zeisser bought 20,000 shares of the business’s stock in a transaction on Wednesday, April 30th. The stock was purchased at an average price of $9.35 per share, with a total value of $187,000.00. Following the transaction, the director now directly owns 174,138 shares in the company, valued at approximately $1,628,190.30. The trade was a 12.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Jordan Cheng sold 7,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction of $98,700.00. Following the transaction, the general counsel now directly owns 88,263 shares of the company’s stock, valued at approximately $1,244,508.30. This represents a 7.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,750 shares of company stock valued at $257,985. Insiders own 3.19% of the company’s stock.

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.