Dynamic Technology Lab Private Ltd raised its holdings in LendingClub Corporation (NYSE:LC) by 350.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,683 shares of the credit services provider’s stock after purchasing an additional 99,357 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in LendingClub Corporation were worth $703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in LC. Prudential Financial Inc. grew its stake in shares of LendingClub Corporation by 3.6% during the 1st quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock worth $119,000 after acquiring an additional 760 shares during the period. Teacher Retirement System of Texas grew its stake in shares of LendingClub Corporation by 27.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 23,822 shares of the credit services provider’s stock worth $131,000 after acquiring an additional 5,130 shares during the period. Blair William & Co. IL grew its stake in shares of LendingClub Corporation by 11.3% during the 2nd quarter. Blair William & Co. IL now owns 26,150 shares of the credit services provider’s stock worth $144,000 after acquiring an additional 2,650 shares during the period. GSA Capital Partners LLP bought a new position in shares of LendingClub Corporation during the 2nd quarter worth $150,000. Finally, Brighton Jones LLC bought a new position in shares of LendingClub Corporation during the 2nd quarter worth $154,000. Hedge funds and other institutional investors own 89.11% of the company’s stock.
In other news, President Steven Allocca sold 35,378 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $6.09, for a total value of $215,452.02. Following the completion of the sale, the president now directly owns 67,084 shares of the company’s stock, valued at $408,541.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John J. Mack bought 10,000 shares of LendingClub Corporation stock in a transaction dated Friday, August 11th. The stock was acquired at an average cost of $5.90 per share, with a total value of $59,000.00. Following the completion of the acquisition, the director now directly owns 1,493,673 shares of the company’s stock, valued at approximately $8,812,670.70. The disclosure for this purchase can be found here. Insiders sold 213,116 shares of company stock valued at $1,288,135 in the last 90 days. 11.40% of the stock is currently owned by insiders.
Shares of LendingClub Corporation (NYSE LC) traded up 1.04% during midday trading on Friday, hitting $5.81. The stock had a trading volume of 5,251,249 shares. LendingClub Corporation has a 52-week low of $4.64 and a 52-week high of $6.78. The company’s 50 day moving average is $6.15 and its 200 day moving average is $5.80. The company’s market cap is $2.39 billion.
LendingClub Corporation (NYSE:LC) last issued its earnings results on Monday, August 7th. The credit services provider reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $139.60 million during the quarter, compared to the consensus estimate of $134.02 million. LendingClub Corporation had a negative net margin of 24.52% and a negative return on equity of 11.97%. The company’s revenue was up 35.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. On average, analysts anticipate that LendingClub Corporation will post $0.04 earnings per share for the current year.
A number of analysts recently issued reports on the company. Zacks Investment Research raised LendingClub Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. BidaskClub cut LendingClub Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 24th. ValuEngine cut LendingClub Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $6.50 price target on shares of LendingClub Corporation in a report on Thursday, August 10th. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $7.00 price target on shares of LendingClub Corporation in a report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. LendingClub Corporation presently has a consensus rating of “Hold” and an average target price of $6.78.
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LendingClub Corporation Company Profile
LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.
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