New York State Teachers Retirement System Purchases New Holdings in LendingClub Co. (NYSE:LC)

New York State Teachers Retirement System acquired a new position in LendingClub Co. (NYSE:LCGet Rating) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 8,800 shares of the credit services provider’s stock, valued at approximately $97,000.

Several other hedge funds and other institutional investors have also bought and sold shares of LC. Envestnet Asset Management Inc. purchased a new stake in shares of LendingClub during the 1st quarter worth approximately $241,000. Advisor Group Holdings Inc. raised its stake in shares of LendingClub by 27.2% in the first quarter. Advisor Group Holdings Inc. now owns 20,242 shares of the credit services provider’s stock valued at $320,000 after buying an additional 4,334 shares during the period. JPMorgan Chase & Co. raised its stake in shares of LendingClub by 84.1% in the first quarter. JPMorgan Chase & Co. now owns 549,930 shares of the credit services provider’s stock valued at $8,677,000 after buying an additional 251,160 shares during the period. Raymond James & Associates bought a new stake in LendingClub in the 1st quarter valued at about $438,000. Finally, PNC Financial Services Group Inc. raised its stake in LendingClub by 367.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,607 shares of the credit services provider’s stock valued at $41,000 after acquiring an additional 2,049 shares during the period. Hedge funds and other institutional investors own 81.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Maxim Group reduced their target price on shares of LendingClub from $40.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, October 31st. StockNews.com began coverage on shares of LendingClub in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Wedbush dropped their target price on LendingClub from $20.00 to $15.00 in a research report on Thursday, October 27th.

LendingClub Stock Up 6.8 %

LC stock opened at $10.32 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.11 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.08 billion, a PE ratio of 3.69 and a beta of 1.92. LendingClub Co. has a twelve month low of $8.23 and a twelve month high of $23.84. The stock has a 50-day simple moving average of $9.51 and a two-hundred day simple moving average of $11.59.

LendingClub (NYSE:LCGet Rating) last released its quarterly earnings data on Wednesday, October 26th. The credit services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. LendingClub had a net margin of 24.88% and a return on equity of 21.55%. The company had revenue of $304.91 million during the quarter, compared to analyst estimates of $294.95 million. On average, equities analysts predict that LendingClub Co. will post 1.39 EPS for the current fiscal year.

Insider Transactions at LendingClub

In other news, insider Ronnie Momen sold 28,607 shares of LendingClub stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $10.08, for a total transaction of $288,358.56. Following the completion of the sale, the insider now owns 180,173 shares in the company, valued at approximately $1,816,143.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Ronnie Momen sold 28,607 shares of the company’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $10.08, for a total value of $288,358.56. Following the completion of the transaction, the insider now directly owns 180,173 shares in the company, valued at $1,816,143.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Allan R. Landon bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was bought at an average price of $10.01 per share, with a total value of $50,050.00. Following the completion of the transaction, the director now directly owns 28,340 shares of the company’s stock, valued at approximately $283,683.40. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 22,300 shares of company stock valued at $214,646. 3.22% of the stock is currently owned by company insiders.

About LendingClub

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LendingClub Corporation, operates as a bank holding company for LendingClub Bank, National Association that provides range of financial products and services through a technology-driven platform in the United States. The company provides commercial and industrial, commercial real estate, small business, and equipment loans, as well as leases equipment; and unsecured personal and auto, patient finance, and education finance loans.

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Institutional Ownership by Quarter for LendingClub (NYSE:LC)

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