Russell Investments Group Ltd. Raises Stake in LendingClub Co. (NYSE:LC)

Russell Investments Group Ltd. lifted its position in shares of LendingClub Co. (NYSE:LC – Get Rating) by 108.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 207,534 shares of the credit services provider’s stock after purchasing an additional 108,119 shares during the quarter. Russell Investments Group Ltd. owned about 0.20% of LendingClub worth $1,826,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arizona State Retirement System boosted its stake in LendingClub by 5.3% during the fourth quarter. Arizona State Retirement System now owns 29,249 shares of the credit services provider’s stock valued at $257,000 after buying an additional 1,478 shares in the last quarter. Shell Asset Management Co. increased its holdings in shares of LendingClub by 67.0% during the 4th quarter. Shell Asset Management Co. now owns 267,499 shares of the credit services provider’s stock valued at $2,354,000 after acquiring an additional 107,280 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in LendingClub in the 4th quarter valued at approximately $89,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in LendingClub by 55.2% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,246 shares of the credit services provider’s stock valued at $146,000 after buying an additional 6,131 shares during the last quarter. Finally, Lansing Street Advisors acquired a new stake in LendingClub in the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 81.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Keefe, Bruyette & Woods cut their price objective on LendingClub from $12.00 to $10.00 and set a “market perform” rating for the company in a research report on Thursday, April 6th. Maxim Group decreased their target price on LendingClub from $20.00 to $15.00 in a research note on Tuesday, January 31st. Janney Montgomery Scott lowered LendingClub from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a report on Thursday, January 26th. StockNews.com started coverage on LendingClub in a report on Thursday, May 18th. They issued a “sell” rating on the stock. Finally, JPMorgan Chase & Co. started coverage on LendingClub in a report on Tuesday, April 11th. They set an “overweight” rating and a $11.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.50.

Insiders Place Their Bets

In other LendingClub news, Director Stephen M. Cutler purchased 7,250 shares of the business’s stock in a transaction on Friday, May 5th. The stock was acquired at an average cost of $6.80 per share, for a total transaction of $49,300.00. Following the completion of the transaction, the director now directly owns 7,399 shares in the company, valued at approximately $50,313.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Stephen M. Cutler bought 7,250 shares of the business’s stock in a transaction on Friday, May 5th. The stock was acquired at an average price of $6.80 per share, with a total value of $49,300.00. Following the transaction, the director now owns 7,399 shares in the company, valued at approximately $50,313.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen M. Cutler purchased 7,407 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were acquired at an average price of $6.75 per share, for a total transaction of $49,997.25. Following the purchase, the director now directly owns 14,806 shares in the company, valued at $99,940.50. The disclosure for this purchase can be found here. Corporate insiders own 3.22% of the company’s stock.

LendingClub Stock Up 3.0 %

Shares of LC opened at $8.12 on Tuesday. The company has a market capitalization of $872.66 million, a PE ratio of 3.23 and a beta of 1.94. LendingClub Co. has a 12 month low of $6.30 and a 12 month high of $16.41. The stock’s 50-day moving average price is $7.07 and its two-hundred day moving average price is $8.71. The company has a current ratio of 1.05, a quick ratio of 0.94 and a debt-to-equity ratio of 0.03.

LendingClub (NYSE:LC – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The credit services provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. LendingClub had a return on equity of 10.45% and a net margin of 22.96%. The firm had revenue of $245.70 million during the quarter, compared to analyst estimates of $237.32 million. During the same period last year, the company posted $0.39 EPS. The business’s quarterly revenue was down 15.1% on a year-over-year basis. On average, analysts anticipate that LendingClub Co. will post 0.22 EPS for the current year.

LendingClub Profile

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LendingClub Corp. engages in an online marketplace that facilitates loans to borrowers and investments. It operates through the LendingClub Bank and LendingClub Corporation (Parent Only) segments. The LendingClub Bank segment offers a full complement of financial products and solutions, including loans, leases and deposits.