Algert Global LLC Purchases 160,828 Shares of LendingClub Co. (NYSE:LC)

Algert Global LLC increased its position in shares of LendingClub Co. (NYSE:LC) by 109.9% in the third quarter, Holdings Channel reports. The institutional investor owned 307,133 shares of the credit services provider’s stock after buying an additional 160,828 shares during the period. Algert Global LLC’s holdings in LendingClub were worth $3,511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LC. AlphaMark Advisors LLC acquired a new position in shares of LendingClub during the 3rd quarter worth about $32,000. Blue Trust Inc. raised its holdings in LendingClub by 259.8% during the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after acquiring an additional 5,247 shares in the last quarter. nVerses Capital LLC bought a new position in LendingClub in the second quarter valued at approximately $71,000. Innealta Capital LLC bought a new position in LendingClub in the second quarter valued at approximately $72,000. Finally, SG Americas Securities LLC increased its position in shares of LendingClub by 16.3% during the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock worth $104,000 after purchasing an additional 1,732 shares during the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wedbush raised their target price on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Maxim Group boosted their price objective on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Piper Sandler reiterated an “overweight” rating and issued a $15.00 target price (up from $13.00) on shares of LendingClub in a research note on Thursday, October 24th. Compass Point upped their price objective on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. lifted their target price on LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.38.

Insider Transactions at LendingClub

In other news, Director John C. Morris sold 2,500 shares of the business’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 directly owns 203,348 shares in the company, valued at approximately $2,920,077.28. The trade was a 1.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $11.09, for a total transaction of $188,530.00. Following the sale, the chief executive officer now directly owns 1,356,273 shares of the company’s stock, valued at approximately $15,041,067.57. This trade represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,500 shares of company stock valued at $996,940. 3.31% of the stock is currently owned by company insiders.

LendingClub Price Performance

LC opened at $16.58 on Tuesday. The company has a market capitalization of $1.86 billion, a PE ratio of 36.03 and a beta of 2.01. The business has a fifty day simple moving average of $13.20 and a 200 day simple moving average of $11.03. LendingClub Co. has a 1 year low of $5.52 and a 1 year high of $17.07.

LendingClub (NYSE:LC) last released its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.07 by $0.06. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The business had revenue of $201.90 million for the quarter, compared to the consensus estimate of $190.40 million. During the same period in the prior year, the company posted $0.05 earnings per share. LendingClub’s revenue was up .5% compared to the same quarter last year. Equities analysts anticipate that LendingClub Co. will post 0.47 earnings per share for the current fiscal year.

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.