Arizona State Retirement System Increases Stock Holdings in LendingClub Co. (NYSE:LC)

Arizona State Retirement System boosted its position in shares of LendingClub Co. (NYSE:LC – Get Rating) by 5.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 29,249 shares of the credit services provider’s stock after purchasing an additional 1,478 shares during the period. Arizona State Retirement System’s holdings in LendingClub were worth $257,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Marshall Wace LLP boosted its holdings in LendingClub by 354.3% during the 3rd quarter. Marshall Wace LLP now owns 388,027 shares of the credit services provider’s stock valued at $4,288,000 after acquiring an additional 302,615 shares during the period. CX Institutional purchased a new position in shares of LendingClub in the 3rd quarter valued at about $738,000. Boothbay Fund Management LLC boosted its stake in shares of LendingClub by 162.9% in the 3rd quarter. Boothbay Fund Management LLC now owns 156,042 shares of the credit services provider’s stock valued at $1,724,000 after buying an additional 96,686 shares during the period. Quadrature Capital Ltd boosted its stake in shares of LendingClub by 413.6% in the 3rd quarter. Quadrature Capital Ltd now owns 66,271 shares of the credit services provider’s stock valued at $731,000 after buying an additional 53,368 shares during the period. Finally, Trexquant Investment LP boosted its stake in shares of LendingClub by 101.5% in the 3rd quarter. Trexquant Investment LP now owns 183,676 shares of the credit services provider’s stock valued at $2,030,000 after buying an additional 92,535 shares during the period. 81.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LC has been the subject of several recent research reports. Maxim Group decreased their price objective on LendingClub from $20.00 to $15.00 in a research note on Tuesday, January 31st. JPMorgan Chase & Co. began coverage on LendingClub in a research report on Tuesday, April 11th. They set an “overweight” rating and a $11.00 target price on the stock. StockNews.com began coverage on LendingClub in a research report on Thursday, May 18th. They set a “sell” rating on the stock. Keefe, Bruyette & Woods cut their target price on LendingClub from $12.00 to $10.00 and set a “market perform” rating on the stock in a research report on Thursday, April 6th. Finally, Janney Montgomery Scott lowered LendingClub from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research report on Thursday, January 26th. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.50.

LendingClub Trading Up 2.1 %

LC opened at $8.29 on Wednesday. The firm has a market cap of $890.93 million, a price-to-earnings ratio of 3.45 and a beta of 1.94. LendingClub Co. has a 52 week low of $6.30 and a 52 week high of $16.41. The business’s 50 day moving average is $7.09 and its two-hundred day moving average is $8.71. The company has a quick ratio of 0.94, a current ratio of 1.05 and a debt-to-equity ratio of 0.03.

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

Insiders Place Their Bets

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

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.