Emerald Mutual Fund Advisers Trust Invests $2.86 Million in LendingClub Corporation $LC

Emerald Mutual Fund Advisers Trust purchased a new stake in shares of LendingClub Corporation (NYSE:LC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 188,150 shares of the credit services provider’s stock, valued at approximately $2,858,000. Emerald Mutual Fund Advisers Trust owned approximately 0.16% of LendingClub at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of LC. Lido Advisors LLC bought a new stake in LendingClub during the second quarter worth approximately $1,202,000. Assenagon Asset Management S.A. lifted its stake in shares of LendingClub by 184.1% in the third quarter. Assenagon Asset Management S.A. now owns 2,121,802 shares of the credit services provider’s stock worth $32,230,000 after buying an additional 1,375,002 shares during the last quarter. Capital Fund Management S.A. boosted its holdings in shares of LendingClub by 183.9% during the 2nd quarter. Capital Fund Management S.A. now owns 213,008 shares of the credit services provider’s stock worth $2,562,000 after buying an additional 137,972 shares during the period. Oppenheimer Asset Management Inc. grew its stake in LendingClub by 18.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 46,771 shares of the credit services provider’s stock valued at $563,000 after buying an additional 7,431 shares during the last quarter. Finally, Jump Financial LLC grew its stake in LendingClub by 106.6% in the 2nd quarter. Jump Financial LLC now owns 429,350 shares of the credit services provider’s stock valued at $5,165,000 after buying an additional 221,581 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors.

LendingClub Stock Down 2.3%

Shares of LC opened at $21.07 on Friday. The stock’s 50-day moving average price is $19.12 and its 200 day moving average price is $17.02. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 23.95 and a beta of 2.08. LendingClub Corporation has a 12-month low of $7.90 and a 12-month high of $21.67.

LendingClub (NYSE:LC) last announced its quarterly earnings data on Wednesday, October 22nd. The credit services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. LendingClub had a return on equity of 7.68% and a net margin of 10.94%.The company had revenue of $107.79 million during the quarter, compared to the consensus estimate of $256.27 million. During the same quarter last year, the company earned $0.13 EPS. The company’s quarterly revenue was up 31.8% on a year-over-year basis. Equities research analysts expect that LendingClub Corporation will post 0.72 EPS for the current year.

LendingClub announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, November 5th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the credit services provider to repurchase up to 4.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at LendingClub

In related news, Director Erin Selleck sold 2,390 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $19.47, for a total value of $46,533.30. Following the completion of the transaction, the director directly owned 76,377 shares of the company’s stock, valued at $1,487,060.19. This trade represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citizens Jmp raised shares of LendingClub from a “market perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research report on Monday, November 10th. Keefe, Bruyette & Woods increased their target price on LendingClub from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. BTIG Research raised their target price on LendingClub from $18.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Zacks Research lowered LendingClub from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of LendingClub in a research report on Monday, December 29th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, LendingClub currently has a consensus rating of “Moderate Buy” and an average price target of $21.57.

About LendingClub

LendingClub Corporation operates an online lending marketplace that connects borrowers seeking personal and small business credit with individual and institutional investors. The platform leverages technology to streamline the loan application and underwriting process, offering unsecured personal loans, auto refinancing, and small business loans. In addition to lending products, LendingClub provides high-yield savings accounts and certificates of deposit through its banking charter, following its acquisition of Radius Bank in 2021.

Founded in 2006 by Renaud Laplanche, LendingClub pioneered peer-to-peer lending in the United States, helping to democratize access to credit and investment opportunities.