LendingClub Co. (NYSE:LC) Shares Sold by Guggenheim Capital LLC

Posted by on Sep 5th, 2023

Guggenheim Capital LLC cut its holdings in shares of LendingClub Co. (NYSE:LC – Free Report) by 1.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 119,864 shares of the credit services provider’s stock after selling 1,825 shares during the quarter. Guggenheim Capital LLC owned 0.11% of LendingClub worth $864,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in LC. Envestnet Asset Management Inc. acquired a new stake in LendingClub during the 1st quarter worth approximately $241,000. Advisor Group Holdings Inc. raised its holdings in shares of LendingClub by 27.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 20,242 shares of the credit services provider’s stock valued at $320,000 after purchasing an additional 4,334 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of LendingClub by 84.1% in the 1st quarter. JPMorgan Chase & Co. now owns 549,930 shares of the credit services provider’s stock valued at $8,677,000 after purchasing an additional 251,160 shares in the last quarter. Raymond James & Associates acquired a new stake in shares of LendingClub in the 1st quarter valued at $438,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of LendingClub by 367.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,607 shares of the credit services provider’s stock valued at $41,000 after purchasing an additional 2,049 shares in the last quarter. 75.57% of the stock is currently owned by institutional investors and hedge funds.

LendingClub Trading Up 0.7 %

Shares of LendingClub stock opened at $7.01 on Tuesday. LendingClub Co. has a 1 year low of $6.23 and a 1 year high of $14.20. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.99 and a current ratio of 1.03. The company has a market capitalization of $761.92 million, a P/E ratio of 8.25 and a beta of 1.96. The company’s fifty day moving average is $8.45 and its two-hundred day moving average is $8.16.

LendingClub (NYSE:LC – Get Free Report) last issued its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. LendingClub had a net margin of 8.66% and a return on equity of 7.04%. The company had revenue of $232.50 million for the quarter, compared to the consensus estimate of $227.41 million. During the same period last year, the firm posted $0.45 EPS. LendingClub’s revenue for the quarter was down 29.6% on a year-over-year basis. Analysts forecast that LendingClub Co. will post 0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LC has been the topic of a number of analyst reports. Jefferies Financial Group initiated coverage on shares of LendingClub in a report on Friday, June 16th. They issued a “buy” rating and a $13.50 price objective on the stock. Wedbush restated an “outperform” rating and issued a $12.00 price objective on shares of LendingClub in a report on Thursday, July 27th. JPMorgan Chase & Co. increased their target price on shares of LendingClub from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Tuesday, August 22nd. Finally, StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.92.

Get Our Latest Research Report on LendingClub

LendingClub Company Profile

(Free Report)

LendingClub Corporation, operates as a bank holding company for LendingClub Bank, National Association 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.

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Institutional Ownership by Quarter for LendingClub (NYSE:LC)

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