LendingClub Corporation (LC) Shares Bought by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. boosted its position in LendingClub Corporation (NYSE:LC) by 22.5% during the third quarter, Holdings Channel reports. The institutional investor owned 202,292 shares of the company’s stock after buying an additional 37,131 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.05% of LendingClub Corporation worth $1,251,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of LC. Teacher Retirement System of Texas bought a new position in LendingClub Corporation during the second quarter worth $175,000. Eaton Vance Management raised its position in LendingClub Corporation by 71.9% in the second quarter. Eaton Vance Management now owns 79,691 shares of the company’s stock worth $343,000 after buying an additional 33,326 shares during the period. Nationwide Fund Advisors bought a new position in LendingClub Corporation during the second quarter worth $926,000. Ameriprise Financial Inc. raised its position in LendingClub Corporation by 36.5% in the second quarter. Ameriprise Financial Inc. now owns 23,208 shares of the company’s stock worth $100,000 after buying an additional 6,205 shares during the period. Finally, Swiss National Bank bought a new position in LendingClub Corporation during the second quarter worth $1,992,000. 83.58% of the stock is currently owned by hedge funds and other institutional investors.
LendingClub Corporation (NYSE:LC) traded up 0.18% on Friday, hitting $5.61. The stock had a trading volume of 2,299,278 shares. The stock’s market cap is $2.21 billion. The company’s 50-day moving average is $5.46 and its 200-day moving average is $5.33. LendingClub Corporation has a one year low of $3.44 and a one year high of $9.80.
LendingClub Corporation (NYSE:LC) last issued its earnings results on Monday, November 7th. The company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.03. LendingClub Corporation had a negative return on equity of 6.68% and a negative net margin of 21.75%. The firm had revenue of $112.60 million for the quarter, compared to analysts’ expectations of $103.31 million. During the same quarter last year, the firm earned $0.04 earnings per share. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, analysts anticipate that LendingClub Corporation will post ($0.12) earnings per share for the current fiscal year.
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A number of equities research analysts have commented on LC shares. BTIG Research set a $9.00 target price on LendingClub Corporation and gave the company a “buy” rating in a research report on Thursday, September 29th. Wedbush started coverage on LendingClub Corporation in a research report on Monday, October 10th. They issued an “underperform” rating and a $3.75 target price on the stock. Zacks Investment Research upgraded LendingClub Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 12th. FBR & Co lifted their target price on LendingClub Corporation from $4.00 to $6.50 and gave the company a “market perform” rating in a research report on Friday, October 14th. Finally, Craig Hallum upgraded LendingClub Corporation from a “hold” rating to a “buy” rating and set a $6.75 target price on the stock in a research report on Friday, October 28th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $11.31.
In other LendingClub Corporation news, insider John Macilwaine sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, October 18th. The stock was sold at an average price of $5.01, for a total value of $250,500.00. Following the transaction, the insider now directly owns 409,308 shares of the company’s stock, valued at $2,050,633.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Sameer Gulati sold 5,854 shares of the firm’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $4.95, for a total value of $28,977.30. Following the completion of the transaction, the chief operating officer now directly owns 952,838 shares in the company, valued at $4,716,548.10. The disclosure for this sale can be found here. 11.40% of the stock is owned by corporate insiders.
LendingClub Corporation Company Profile
LendingClub Corporation (Lending Club) 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 is only available on a limited basis to large institutional investors.
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