HBK Investments L P purchased a new stake in shares of LendingClub Corp (NYSE:LC) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 669,500 shares of the credit services provider’s stock, valued at approximately $2,765,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Deutsche Bank AG raised its position in LendingClub by 19.3% during the 4th quarter. Deutsche Bank AG now owns 18,573,804 shares of the credit services provider’s stock valued at $76,708,000 after purchasing an additional 3,002,439 shares during the last quarter. Jackson Square Partners LLC raised its position in shares of LendingClub by 3.1% in the 4th quarter. Jackson Square Partners LLC now owns 10,193,070 shares of the credit services provider’s stock worth $42,097,000 after acquiring an additional 309,328 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of LendingClub by 23.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,942,304 shares of the credit services provider’s stock worth $36,191,000 after acquiring an additional 1,118,364 shares in the last quarter. ARK Investment Management LLC raised its position in shares of LendingClub by 168.7% in the 4th quarter. ARK Investment Management LLC now owns 5,811,387 shares of the credit services provider’s stock worth $24,001,000 after acquiring an additional 3,648,962 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of LendingClub by 85.7% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,183,823 shares of the credit services provider’s stock worth $31,569,000 after acquiring an additional 2,392,223 shares in the last quarter. 89.80% of the stock is owned by institutional investors and hedge funds.
Shares of LendingClub Corp (LC) opened at $3.90 on Friday. The company has a current ratio of 5.79, a quick ratio of 5.47 and a debt-to-equity ratio of 3.22. LendingClub Corp has a 52 week low of $3.09 and a 52 week high of $6.56.
LendingClub (NYSE:LC) last posted its quarterly earnings results on Tuesday, February 20th. The credit services provider reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $156.50 million during the quarter, compared to analysts’ expectations of $157.55 million. LendingClub had a negative return on equity of 7.10% and a negative net margin of 26.77%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.02) EPS. sell-side analysts predict that LendingClub Corp will post -0.08 EPS for the current year.
In other LendingClub news, Director Kenneth D. Denman bought 30,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were acquired at an average cost of $3.16 per share, for a total transaction of $94,800.00. Following the purchase, the director now owns 30,000 shares in the company, valued at approximately $94,800. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Tian Qiao Chen bought 7,696,016 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were acquired at an average price of $3.57 per share, for a total transaction of $27,474,777.12. The disclosure for this purchase can be found here. Insiders purchased a total of 7,776,016 shares of company stock worth $27,761,077 in the last 90 days. 9.72% of the stock is currently owned by company insiders.
Several research analysts have recently issued reports on the company. Zacks Investment Research raised LendingClub from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. Citigroup decreased their target price on LendingClub from $4.25 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Stifel Nicolaus decreased their target price on LendingClub from $5.00 to $4.50 and set a “hold” rating for the company in a research report on Friday, December 8th. Needham & Company LLC reissued a “buy” rating and issued a $6.00 target price (down previously from $7.00) on shares of LendingClub in a research report on Friday, December 8th. Finally, Guggenheim lowered LendingClub from a “buy” rating to a “neutral” rating and set a $7.00 target price for the company. in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $6.24.
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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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