River & Mercantile Asset Management LLP raised its holdings in LendingClub Corp (NYSE:LC) by 89.2% in the fourth quarter, Holdings Channel reports. The fund owned 1,176,842 shares of the credit services provider’s stock after acquiring an additional 554,990 shares during the period. River & Mercantile Asset Management LLP’s holdings in LendingClub were worth $4,866,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Republic Investment Management Inc. lifted its holdings in LendingClub by 5.7% in the 3rd quarter. First Republic Investment Management Inc. now owns 802,539 shares of the credit services provider’s stock valued at $4,887,000 after acquiring an additional 43,247 shares during the last quarter. Westpac Banking Corp lifted its holdings in LendingClub by 134.0% in the 4th quarter. Westpac Banking Corp now owns 333,750 shares of the credit services provider’s stock valued at $1,378,000 after acquiring an additional 191,150 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in LendingClub during the 3rd quarter worth about $3,373,000. Engineers Gate Manager LP acquired a new stake in LendingClub during the 3rd quarter worth about $804,000. Finally, Ark Investment Management LLC raised its holdings in LendingClub by 32.2% during the 2nd quarter. Ark Investment Management LLC now owns 1,416,570 shares of the credit services provider’s stock worth $7,805,000 after buying an additional 345,015 shares during the period. 85.65% of the stock is owned by institutional investors.

Several analysts have issued reports on LC shares. Needham & Company LLC restated a “buy” rating and set a $6.00 price objective (down previously from $7.00) on shares of LendingClub in a report on Friday, December 8th. Oppenheimer restated a “buy” rating and set a $5.00 price objective on shares of LendingClub in a report on Friday, December 8th. Canaccord Genuity cut their price objective on LendingClub from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Maxim Group started coverage on LendingClub in a report on Tuesday, November 7th. They set a “buy” rating and a $8.00 price objective on the stock. Finally, Zacks Investment Research upgraded LendingClub from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $6.54.

In other LendingClub news, major shareholder Tian Qiao Chen bought 4,000,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were bought at an average price of $3.80 per share, for a total transaction of $15,200,000.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 9.72% of the stock is owned by corporate insiders.

LendingClub Corp (LC) opened at $3.75 on Tuesday. The firm has a market capitalization of $1,535.02, a PE ratio of -16.30 and a beta of 1.38. LendingClub Corp has a twelve month low of $3.29 and a twelve month high of $6.78. The company has a quick ratio of 16.90, a current ratio of 18.02 and a debt-to-equity ratio of 3.52.

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LendingClub 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 (NYSE:LC)

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