Fore Capital LLC bought a new stake in shares of Lending Club (NYSE:LC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 45,000 shares of the credit services provider’s stock, valued at approximately $186,000.
Other hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in Lending Club in the 3rd quarter worth approximately $103,000. Phoenix Investment Adviser LLC bought a new stake in shares of Lending Club during the 4th quarter valued at $124,000. MANA Advisors LLC bought a new stake in shares of Lending Club during the 4th quarter valued at $126,000. Public Employees Retirement Association of Colorado bought a new stake in shares of Lending Club during the 4th quarter valued at $134,000. Finally, Invictus RG bought a new position in Lending Club in the 3rd quarter worth $219,000. Hedge funds and other institutional investors own 89.28% of the company’s stock.
NYSE:LC traded up $0.07 during midday trading on Thursday, reaching $3.31. 2,877,238 shares of the stock traded hands, compared to its average volume of 7,115,565. Lending Club has a 12-month low of $3.09 and a 12-month high of $6.56. The company has a quick ratio of 5.47, a current ratio of 5.79 and a debt-to-equity ratio of 3.22. The stock has a market capitalization of $1,378.01, a price-to-earnings ratio of -19.47 and a beta of 1.23.
Lending Club (NYSE:LC) last posted its earnings results on Tuesday, February 20th. The credit services provider reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). The firm had revenue of $156.50 million for the quarter, compared to analysts’ expectations of $157.55 million. Lending Club had a negative net margin of 26.77% and a negative return on equity of 7.10%. The company’s revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) EPS. analysts expect that Lending Club will post -0.08 EPS for the current year.
In other Lending Club news, Director Kenneth D. Denman bought 30,000 shares of Lending Club stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average price of $3.16 per share, with a total value of $94,800.00. Following the completion of the acquisition, the director now directly owns 30,000 shares in the company, valued at approximately $94,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Tian Qiao Chen bought 7,696,016 shares of Lending Club stock in a transaction that occurred on Thursday, March 1st. The shares were acquired at an average cost of $3.57 per share, with a total value of $27,474,777.12. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 7,776,016 shares of company stock valued at $27,761,077. Corporate insiders own 9.72% of the company’s stock.
LC has been the subject of several recent analyst reports. Credit Suisse Group dropped their target price on shares of Lending Club from $5.60 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Zacks Investment Research upgraded shares of Lending Club from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. Guggenheim cut shares of Lending Club from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a research note on Friday, February 23rd. Maxim Group reiterated a “buy” rating and issued a $6.00 price target on shares of Lending Club in a research note on Tuesday, February 20th. Finally, UBS began coverage on shares of Lending Club in a research report on Tuesday, March 27th. They set a “neutral” rating and a $4.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $6.10.
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Lending Club Company Profile
LendingClub Corporation operates an online marketplace platform that connects borrowers and investors in the United States. Its marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient finance loans, auto refinance loans, and unsecured small business loans.
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