SG Americas Securities LLC Trims Stock Position in LendingClub Co. (NYSE:LC)

SG Americas Securities LLC cut its holdings in shares of LendingClub Co. (NYSE:LCGet Rating) by 21.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,073 shares of the credit services provider’s stock after selling 11,915 shares during the quarter. SG Americas Securities LLC’s holdings in LendingClub were worth $487,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in LendingClub by 7.8% during the second quarter. Nordea Investment Management AB now owns 315,245 shares of the credit services provider’s stock worth $3,603,000 after buying an additional 22,696 shares during the period. Empowered Funds LLC purchased a new position in LendingClub during the second quarter worth about $431,000. Bank of America Corp DE lifted its position in LendingClub by 154.0% during the first quarter. Bank of America Corp DE now owns 1,990,352 shares of the credit services provider’s stock worth $31,408,000 after buying an additional 1,206,662 shares during the period. Baader Bank Aktiengesellschaft lifted its position in LendingClub by 54.4% during the second quarter. Baader Bank Aktiengesellschaft now owns 397,477 shares of the credit services provider’s stock worth $4,647,000 after buying an additional 140,000 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in LendingClub by 98.9% during the second quarter. Point72 Asset Management L.P. now owns 1,989,500 shares of the credit services provider’s stock worth $23,257,000 after acquiring an additional 989,200 shares during the last quarter. 81.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Fergal Stack sold 6,240 shares of the stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $10.09, for a total value of $62,961.60. Following the completion of the sale, the senior vice president now owns 145,329 shares in the company, valued at $1,466,369.61. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other LendingClub news, SVP Fergal Stack sold 6,240 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $10.09, for a total transaction of $62,961.60. Following the completion of the sale, the senior vice president now owns 145,329 shares in the company, valued at approximately $1,466,369.61. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ronnie Momen sold 28,607 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 180,173 shares of the company’s stock, valued at approximately $1,816,143.84. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 22,300 shares of company stock worth $214,646. 3.22% of the stock is currently owned by corporate insiders.

LendingClub Price Performance

LC stock opened at $10.24 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.07 and a current ratio of 1.11. LendingClub Co. has a 1 year low of $8.23 and a 1 year high of $23.84. The firm has a market cap of $1.08 billion, a P/E ratio of 3.66 and a beta of 1.92. The stock has a 50-day simple moving average of $9.49 and a 200-day simple moving average of $11.55.

LendingClub (NYSE:LCGet Rating) last posted its earnings results on Wednesday, October 26th. The credit services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. LendingClub had a return on equity of 21.55% and a net margin of 24.88%. The business 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 1.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

LendingClub Profile

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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.

See Also

Institutional Ownership by Quarter for LendingClub (NYSE:LC)

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