Joel Isaacson & Co. LLC Lowers Stake in LendingClub Corporation $LC

Joel Isaacson & Co. LLC lessened its holdings in LendingClub Corporation (NYSE:LC) by 0.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 211,801 shares of the credit services provider’s stock after selling 1,000 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in LendingClub were worth $2,548,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new stake in LendingClub in the first quarter valued at approximately $869,000. Charles Schwab Investment Management Inc. lifted its stake in LendingClub by 8.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,004,943 shares of the credit services provider’s stock valued at $10,371,000 after buying an additional 80,100 shares in the last quarter. Capital Fund Management S.A. purchased a new position in LendingClub in the 1st quarter valued at $774,000. AlphaQuest LLC boosted its stake in LendingClub by 72.9% during the 1st quarter. AlphaQuest LLC now owns 40,864 shares of the credit services provider’s stock worth $422,000 after purchasing an additional 17,224 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of LendingClub in the first quarter valued at about $16,329,000. Hedge funds and other institutional investors own 74.08% of the company’s stock.

LendingClub Price Performance

Shares of NYSE LC opened at $14.79 on Tuesday. The business has a 50-day moving average of $16.12 and a two-hundred day moving average of $12.72. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 23.11 and a beta of 2.48. LendingClub Corporation has a 1 year low of $7.90 and a 1 year high of $18.75.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, July 29th. The credit services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.18. The firm had revenue of $248.44 million during the quarter, compared to analysts’ expectations of $227.04 million. LendingClub had a return on equity of 5.66% and a net margin of 8.36%.The firm’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 earnings per share. As a group, equities research analysts expect that LendingClub Corporation will post 0.72 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on LC shares. Weiss Ratings reiterated a “hold (c)” rating on shares of LendingClub in a report on Saturday, September 27th. Wall Street Zen raised LendingClub from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Zacks Research cut shares of LendingClub from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Piper Sandler set a $15.50 price objective on shares of LendingClub and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Finally, Stephens initiated coverage on shares of LendingClub in a report on Thursday, June 12th. They issued an “overweight” rating and a $15.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.57.

Insider Activity at LendingClub

In other news, Director Erin Selleck sold 2,390 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $16.82, for a total value of $40,199.80. Following the completion of the sale, the director directly owned 73,987 shares of the company’s stock, valued at approximately $1,244,461.34. The trade was a 3.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew Labenne sold 20,903 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $17.04, for a total value of $356,187.12. Following the transaction, the chief financial officer owned 181,750 shares in the company, valued at $3,097,020. This represents a 10.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 106,498 shares of company stock valued at $1,774,183 in the last ninety days. Insiders own 3.19% of the company’s stock.

LendingClub Company Profile

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.