SG Americas Securities LLC Increases Stake in LendingClub Co. (NYSE:LC)

SG Americas Securities LLC boosted its holdings in LendingClub Co. (NYSE:LC) by 699.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 318,745 shares of the credit services provider’s stock after purchasing an additional 278,879 shares during the period. SG Americas Securities LLC’s holdings in LendingClub were worth $5,160,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LC. Dimensional Fund Advisors LP boosted its holdings in LendingClub by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock valued at $49,901,000 after acquiring an additional 300,536 shares during the period. Hsbc Holdings PLC boosted its stake in shares of LendingClub by 38.3% during the second quarter. Hsbc Holdings PLC now owns 16,748 shares of the credit services provider’s stock valued at $141,000 after purchasing an additional 4,640 shares during the period. Bank of Montreal Can boosted its stake in shares of LendingClub by 3.3% during the second quarter. Bank of Montreal Can now owns 782,627 shares of the credit services provider’s stock valued at $6,621,000 after purchasing an additional 24,927 shares during the period. Marshall Wace LLP bought a new position in shares of LendingClub in the second quarter worth approximately $2,412,000. Finally, Cubist Systematic Strategies LLC increased its stake in shares of LendingClub by 212.4% in the second quarter. Cubist Systematic Strategies LLC now owns 345,079 shares of the credit services provider’s stock worth $2,919,000 after buying an additional 234,611 shares during the period. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

LendingClub Price Performance

Shares of NYSE LC opened at $17.05 on Friday. The stock has a market cap of $1.92 billion, a P/E ratio of 37.07 and a beta of 2.03. LendingClub Co. has a 1 year low of $7.48 and a 1 year high of $18.75. The firm has a 50-day moving average of $16.31 and a 200 day moving average of $13.36.

LendingClub (NYSE:LC) last posted its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.06. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The firm had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $190.40 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. The company’s revenue was up .5% on a year-over-year basis. Research analysts expect that LendingClub Co. will post 0.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

LC has been the subject of several analyst reports. StockNews.com cut shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Wedbush upped their price target on LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Piper Sandler boosted their target price on LendingClub from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. restated a “neutral” rating and set a $17.00 target price (up previously from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Finally, Maxim Group boosted their price objective on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.63.

Insider Activity

In related news, Director John C. Morris sold 2,500 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $14.36, for a total transaction of $35,900.00. Following the sale, the director now owns 203,348 shares in the company, valued at approximately $2,920,077.28. This represents a 1.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $14.89, for a total transaction of $253,130.00. Following the transaction, the chief executive officer now directly owns 1,339,273 shares of the company’s stock, valued at approximately $19,941,774.97. This represents a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,500 shares of company stock valued at $1,158,610 in the last quarter. 3.31% of the stock is currently owned by insiders.

LendingClub 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.