Brighton Jones LLC Lowers Holdings in LendingClub Co. (NYSE:LC)

Brighton Jones LLC reduced its position in shares of LendingClub Co. (NYSE:LC) by 9.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 411,070 shares of the credit services provider’s stock after selling 43,788 shares during the quarter. Brighton Jones LLC owned about 0.37% of LendingClub worth $6,655,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its position in LendingClub by 120.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock valued at $17,351,000 after acquiring an additional 828,958 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of LendingClub by 98.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider’s stock worth $17,686,000 after purchasing an additional 766,287 shares in the last quarter. Dimensional Fund Advisors LP increased its position in LendingClub by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock valued at $49,901,000 after buying an additional 300,536 shares in the last quarter. Marshall Wace LLP acquired a new stake in LendingClub in the second quarter worth about $2,412,000. Finally, SG Americas Securities LLC raised its position in shares of LendingClub by 699.5% in the 4th quarter. SG Americas Securities LLC now owns 318,745 shares of the credit services provider’s stock valued at $5,160,000 after purchasing an additional 278,879 shares during the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

LendingClub Trading Down 1.0 %

LendingClub stock opened at $16.93 on Friday. The stock’s 50 day simple moving average is $16.24 and its two-hundred day simple moving average is $13.28. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $18.75. The firm has a market cap of $1.90 billion, a PE ratio of 36.79 and a beta of 2.03.

LendingClub (NYSE:LC) last released its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The company had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $190.40 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities research analysts forecast that LendingClub Co. will post 0.47 EPS for the current year.

Analyst Ratings Changes

LC has been the topic of a number of recent analyst reports. StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Compass Point upped their target price on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Maxim Group lifted their price target on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods increased their price objective on LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Wedbush lifted their target price on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.63.

Insider Activity at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $14.89, for a total transaction of $253,130.00. Following the completion of the sale, the chief executive officer now directly owns 1,339,273 shares in the company, valued at approximately $19,941,774.97. The trade was a 1.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John C. Morris sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total value of $35,900.00. Following the completion of the transaction, the director now owns 203,348 shares in the company, valued at approximately $2,920,077.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,500 shares of company stock worth $1,158,610 in the last 90 days. Corporate insiders own 3.31% of the company’s stock.

LendingClub Company Profile

LendingClub Corporation, operates as a bank holding company, 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.