Empowered Funds LLC Has $589,000 Stake in LendingClub Co. (NYSE:LC)

Empowered Funds LLC reduced its holdings in LendingClub Co. (NYSE:LC) by 84.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,557 shares of the credit services provider’s stock after selling 287,472 shares during the period. Empowered Funds LLC’s holdings in LendingClub were worth $589,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LC. Vanguard Group Inc. increased its position in shares of LendingClub by 1.6% in the first quarter. Vanguard Group Inc. now owns 11,446,014 shares of the credit services provider’s stock valued at $100,610,000 after acquiring an additional 175,706 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of LendingClub by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock valued at $49,901,000 after acquiring an additional 300,536 shares during the period. American Century Companies Inc. lifted its holdings in shares of LendingClub by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock worth $14,032,000 after acquiring an additional 329,279 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of LendingClub by 120.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock worth $17,351,000 after buying an additional 828,958 shares in the last quarter. Finally, Bank of Montreal Can increased its position in LendingClub by 3.3% during the 2nd quarter. Bank of Montreal Can now owns 782,627 shares of the credit services provider’s stock worth $6,621,000 after purchasing an additional 24,927 shares in the last quarter. 74.08% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $11.36, for a total value of $193,120.00. Following the completion of the transaction, the chief executive officer now directly owns 1,373,273 shares of the company’s stock, valued at $15,600,381.28. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John C. Morris sold 2,500 shares of the stock in a transaction on Tuesday, October 29th. The stock was 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 owns 203,348 shares of the company’s stock, valued at approximately $2,920,077.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,500 shares of company stock valued at $996,940 over the last 90 days. Insiders own 3.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Maxim Group lifted their target price on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods raised shares of LendingClub from a “market perform” rating to an “outperform” rating and raised their price target for the company from $11.50 to $15.00 in a research report on Thursday, October 10th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $15.00 price objective (up previously from $13.00) on shares of LendingClub in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.38.

LendingClub Stock Up 5.2 %

LC opened at $16.73 on Monday. LendingClub Co. has a twelve month low of $5.51 and a twelve month high of $16.75. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 36.37 and a beta of 2.01. The firm has a 50-day moving average price of $13.09 and a 200-day moving average price of $10.96.

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 analysts’ consensus estimates of $0.07 by $0.06. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The firm had revenue of $201.90 million during the quarter, compared to analyst estimates of $190.40 million. During the same period in the previous year, the business earned $0.05 EPS. The business’s revenue for the quarter was up .5% on a year-over-year basis. On average, sell-side analysts expect that LendingClub Co. will post 0.47 earnings per share for the current fiscal year.

LendingClub 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.