Numerai GP LLC bought a new position in LendingClub Co. (NYSE:LC – Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 57,478 shares of the credit services provider’s stock, valued at approximately $414,000. Numerai GP LLC owned 0.05% of LendingClub at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC purchased a new stake in shares of LendingClub during the 1st quarter worth $30,000. Belpointe Asset Management LLC purchased a new stake in shares of LendingClub during the 4th quarter worth $31,000. Envestnet Asset Management Inc. lifted its stake in shares of LendingClub by 491.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 159,360 shares of the credit services provider’s stock worth $35,000 after purchasing an additional 132,438 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of LendingClub by 367.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,607 shares of the credit services provider’s stock worth $41,000 after purchasing an additional 2,049 shares during the last quarter. Finally, Point72 Middle East FZE purchased a new stake in shares of LendingClub during the 4th quarter worth $54,000. 75.57% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
LC has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their target price on LendingClub from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Tuesday, August 22nd. StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Jefferies Financial Group initiated coverage on LendingClub in a research report on Friday, June 16th. They set a “buy” rating and a $13.50 target price on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $12.00 target price on shares of LendingClub in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.92.
LendingClub Stock Up 0.1 %
Shares of LC stock opened at $6.86 on Friday. The stock’s 50-day simple moving average is $8.22 and its 200-day simple moving average is $8.09. 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 firm has a market capitalization of $745.61 million, a PE ratio of 8.07 and a beta of 1.96. LendingClub Co. has a fifty-two week low of $6.23 and a fifty-two week high of $14.20.
LendingClub (NYSE:LC – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $232.50 million for the quarter, compared to analyst estimates of $227.41 million. LendingClub had a return on equity of 7.04% and a net margin of 8.66%. The company’s revenue was down 29.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 earnings per share. Equities analysts expect that LendingClub Co. will post 0.28 earnings per share for the current year.
LendingClub Profile
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.
See Also
- Five stocks we like better than LendingClub
- What is the price-to-earnings growth (PEG) ratio?
- MarketBeat Week in Review – 9/4 – 9/8
- What is ChatGPT Stock? How to Invest in It
- The Best 5 Small Cap AI Companies to Buy Now
- Roth IRA Calculator: Calculate Your Potential Returns
- Miso Robotics Stock: Is an IPO Coming Soon?
Want to see what other hedge funds are holding LC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LendingClub Co. (NYSE:LC – Free Report).
Receive News & Ratings for LendingClub Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LendingClub and related companies with MarketBeat.com's FREE daily email newsletter.
