Hsbc Holdings PLC purchased a new stake in LendingClub Corp (NYSE:LC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,394,279 shares of the credit services provider’s stock, valued at approximately $4,880,000. Hsbc Holdings PLC owned 0.33% of LendingClub at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC grew its position in LendingClub by 48.2% in the 4th quarter. Brighton Jones LLC now owns 51,074 shares of the credit services provider’s stock valued at $211,000 after purchasing an additional 16,603 shares during the period. Jackson Square Partners LLC lifted its stake in LendingClub by 3.1% during the 4th quarter. Jackson Square Partners LLC now owns 10,193,070 shares of the credit services provider’s stock valued at $42,097,000 after acquiring an additional 309,328 shares in the last quarter. HBK Investments L P bought a new position in LendingClub during the 4th quarter valued at $2,765,000. Fore Capital LLC bought a new position in LendingClub during the 4th quarter valued at $186,000. Finally, Allianz Asset Management GmbH lifted its stake in LendingClub by 14.5% during the 4th quarter. Allianz Asset Management GmbH now owns 1,052,225 shares of the credit services provider’s stock valued at $4,346,000 after acquiring an additional 133,080 shares in the last quarter. 83.22% of the stock is owned by institutional investors and hedge funds.
In other news, Director Simon Williams sold 50,000 shares of LendingClub stock in a transaction on Friday, May 18th. The stock was sold at an average price of $3.40, for a total transaction of $170,000.00. Following the sale, the director now directly owns 123,053 shares in the company, valued at approximately $418,380.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.72% of the company’s stock.
Several equities analysts have weighed in on the company. Craig Hallum set a $5.00 price objective on LendingClub and gave the company a “buy” rating in a research note on Friday, June 1st. ValuEngine upgraded LendingClub from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Credit Suisse Group dropped their price objective on LendingClub from $5.80 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 9th. BTIG Research restated a “buy” rating on shares of LendingClub in a research note on Sunday, April 29th. Finally, Maxim Group restated a “buy” rating and set a $6.00 price objective on shares of LendingClub in a research note on Thursday, April 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.80.
LendingClub opened at $3.92 on Friday, according to MarketBeat. The firm has a market cap of $1.67 billion, a PE ratio of -23.06 and a beta of 1.36. LendingClub Corp has a one year low of $2.57 and a one year high of $6.56. The company has a current ratio of 6.28, a quick ratio of 5.88 and a debt-to-equity ratio of 2.98.
LendingClub (NYSE:LC) last released its earnings results on Tuesday, May 8th. The credit services provider reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. The company had revenue of $151.70 million for the quarter, compared to analysts’ expectations of $150.62 million. LendingClub had a negative return on equity of 5.62% and a negative net margin of 25.79%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.02) EPS. sell-side analysts forecast that LendingClub Corp will post -0.1 EPS for the current fiscal year.
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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