Foundation Capital LLC lowered its position in LendingClub Corporation (NYSE:LC) by 23.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 16,632,144 shares of the credit services provider’s stock after selling 5,217,504 shares during the period. LendingClub Corporation accounts for approximately 26.3% of Foundation Capital LLC’s portfolio, making the stock its 2nd biggest holding. Foundation Capital LLC owned approximately 4.04% of LendingClub Corporation worth $101,289,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LC. Amalgamated Bank increased its stake in shares of LendingClub Corporation by 0.7% in the 2nd quarter. Amalgamated Bank now owns 41,156 shares of the credit services provider’s stock worth $227,000 after acquiring an additional 276 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of LendingClub Corporation by 3.6% in 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 last quarter. Nisa Investment Advisors LLC increased its stake in shares of LendingClub Corporation by 4.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 36,240 shares of the credit services provider’s stock worth $200,000 after acquiring an additional 1,500 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of LendingClub Corporation by 3.7% in the 2nd quarter. Principal Financial Group Inc. now owns 43,834 shares of the credit services provider’s stock worth $242,000 after acquiring an additional 1,574 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of LendingClub Corporation by 4.6% in the 2nd quarter. SG Americas Securities LLC now owns 45,466 shares of the credit services provider’s stock worth $251,000 after acquiring an additional 1,981 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.

In other LendingClub Corporation news, CEO Scott Sanborn sold 46,667 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $5.77, for a total value of $269,268.59. Following the sale, the chief executive officer now owns 970,337 shares in the company, valued at approximately $5,598,844.49. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Sameer Gulati sold 8,351 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $5.64, for a total value of $47,099.64. Following the completion of the sale, the chief operating officer now owns 296,221 shares in the company, valued at approximately $1,670,686.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 213,116 shares of company stock worth $1,288,135. Insiders own 11.40% of the company’s stock.

A number of analysts have issued reports on the company. Zacks Investment Research raised LendingClub Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. BidaskClub downgraded LendingClub Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. ValuEngine downgraded LendingClub Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $6.50 target price on shares of LendingClub Corporation in a research note on Thursday, August 10th. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $7.00 target price on shares of LendingClub Corporation in a research note on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $6.80.

Shares of LendingClub Corporation (NYSE LC) traded up $0.01 during trading on Friday, reaching $5.63. The company had a trading volume of 2,757,339 shares, compared to its average volume of 7,031,823. The company has a debt-to-equity ratio of 3.87, a current ratio of 19.05 and a quick ratio of 18.90. LendingClub Corporation has a 12 month low of $4.92 and a 12 month high of $6.78.

LendingClub Corporation (NYSE:LC) last released its quarterly earnings data on Monday, August 7th. The credit services provider reported ($0.06) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.06). LendingClub Corporation had a negative return on equity of 11.97% and a negative net margin of 24.52%. The business had revenue of $139.60 million for the quarter, compared to analyst estimates of $134.02 million. During the same quarter in the prior year, the firm posted ($0.09) EPS. The business’s quarterly revenue was up 35.0% compared to the same quarter last year. equities analysts expect that LendingClub Corporation will post -0.14 EPS for the current fiscal year.

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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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Institutional Ownership by Quarter for LendingClub Corporation (NYSE:LC)

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