Point72 Asset Management L.P. bought a new position in shares of LendingClub Corp (NYSE:LC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 553,900 shares of the credit services provider’s stock, valued at approximately $3,373,000. Point72 Asset Management L.P. owned 0.13% of LendingClub as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in LC. Quantbot Technologies LP acquired a new position in shares of LendingClub in the 3rd quarter valued at $103,000. Prudential Financial Inc. grew its holdings in shares of LendingClub by 5.4% in the 2nd quarter. Prudential Financial Inc. now owns 22,850 shares of the credit services provider’s stock valued at $126,000 after buying an additional 1,170 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of LendingClub by 27.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 23,822 shares of the credit services provider’s stock valued at $131,000 after buying an additional 5,130 shares during the period. Blair William & Co. IL grew its holdings in shares of LendingClub by 11.3% in the 2nd quarter. Blair William & Co. IL now owns 26,150 shares of the credit services provider’s stock valued at $144,000 after buying an additional 2,650 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of LendingClub in the 2nd quarter valued at $150,000. 86.45% of the stock is owned by hedge funds and other institutional investors.
Shares of LendingClub Corp (NYSE:LC) traded up $0.15 during trading hours on Thursday, reaching $4.33. 8,450,000 shares of the company’s stock traded hands, compared to its average volume of 12,300,000. The company has a quick ratio of 16.90, a current ratio of 18.02 and a debt-to-equity ratio of 3.52. LendingClub Corp has a 52-week low of $3.29 and a 52-week high of $6.78. The company has a market cap of $1,800.00, a PE ratio of -18.83 and a beta of 1.60.
In other LendingClub news, major shareholder Tian Qiao Chen purchased 4,000,000 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were purchased at an average cost of $3.80 per share, with a total value of $15,200,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John J. Mack purchased 20,000 shares of the business’s stock in a transaction on Monday, November 13th. The shares were acquired at an average cost of $4.28 per share, for a total transaction of $85,600.00. Following the completion of the transaction, the director now directly owns 1,513,673 shares in the company, valued at $6,478,520.44. The disclosure for this purchase can be found here. Insiders have acquired a total of 25,957,175 shares of company stock worth $100,843,283 over the last three months. Insiders own 9.72% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Canaccord Genuity reissued a “hold” rating and issued a $7.00 price target on shares of LendingClub in a report on Sunday, October 1st. Zacks Investment Research lowered shares of LendingClub from a “hold” rating to a “strong sell” rating in a report on Wednesday. BTIG Research reissued a “buy” rating and issued a $9.00 price target on shares of LendingClub in a report on Wednesday, September 27th. Oppenheimer reduced their target price on shares of LendingClub from $7.50 to $6.25 and set an “outperform” rating for the company in a research note on Wednesday, November 8th. Finally, Stifel Nicolaus reduced their target price on shares of LendingClub from $5.00 to $4.50 and set a “hold” rating for the company in a research note on Friday, December 8th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $6.54.
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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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