International Assets Investment Management LLC Makes New Investment in LendingClub Co. (NYSE:LC)

Posted by Defense World Staff on Apr 15th, 2023

International Assets Investment Management LLC purchased a new stake in LendingClub Co. (NYSE:LC – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 37,957 shares of the credit services provider’s stock, valued at approximately $334,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Strs Ohio increased its stake in shares of LendingClub by 11.9% in the fourth quarter. Strs Ohio now owns 25,400 shares of the credit services provider’s stock valued at $223,000 after buying an additional 2,700 shares during the period. Miracle Mile Advisors LLC acquired a new stake in shares of LendingClub in the fourth quarter valued at about $195,000. SummerHaven Investment Management LLC increased its stake in shares of LendingClub by 1.8% in the fourth quarter. SummerHaven Investment Management LLC now owns 62,787 shares of the credit services provider’s stock valued at $553,000 after buying an additional 1,092 shares during the period. Bank of New York Mellon Corp increased its stake in shares of LendingClub by 13.0% in the third quarter. Bank of New York Mellon Corp now owns 375,242 shares of the credit services provider’s stock valued at $4,146,000 after buying an additional 43,292 shares during the period. Finally, Harspring Capital Management LLC increased its stake in shares of LendingClub by 17.7% in the third quarter. Harspring Capital Management LLC now owns 2,160,000 shares of the credit services provider’s stock valued at $23,868,000 after buying an additional 325,000 shares during the period. Institutional investors and hedge funds own 81.11% of the company’s stock.

LendingClub Stock Down 0.4 %

LC stock opened at $7.19 on Friday. LendingClub Co. has a twelve month low of $6.52 and a twelve month high of $17.48. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average is $8.24 and its 200-day moving average is $9.47. The firm has a market capitalization of $766.24 million, a PE ratio of 2.61 and a beta of 1.95.

LendingClub (NYSE:LC – Get Rating) last posted its earnings results on Wednesday, January 25th. The credit services provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). LendingClub had a net margin of 24.40% and a return on equity of 13.75%. The company had revenue of $262.70 million during the quarter, compared to the consensus estimate of $258.37 million. During the same quarter in the prior year, the business earned $0.80 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts expect that LendingClub Co. will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on LC. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research note on Thursday, March 30th. Janney Montgomery Scott lowered LendingClub from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a report on Thursday, January 26th. Maxim Group cut their price target on LendingClub from $20.00 to $15.00 in a report on Tuesday, January 31st. Keefe, Bruyette & Woods cut their price target on LendingClub from $12.00 to $10.00 and set a “market perform” rating on the stock in a report on Thursday, April 6th. Finally, JPMorgan Chase & Co. began coverage on LendingClub in a report on Tuesday. They issued an “overweight” rating and a $11.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, LendingClub currently has an average rating of “Hold” and an average target price of $13.50.

About LendingClub

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LendingClub Corp. engages in an online marketplace that facilitates loans to borrowers and investments. It operates through the LendingClub Bank and LendingClub Corporation (Parent Only) segments. The LendingClub Bank segment offers a full complement of financial products and solutions, including loans, leases and deposits.