Joel Isaacson & Co. LLC Sells 5,000 Shares of LendingClub Co. (NYSE:LC)

Joel Isaacson & Co. LLC cut its position in LendingClub Co. (NYSE:LC) by 1.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 254,801 shares of the credit services provider’s stock after selling 5,000 shares during the quarter. Joel Isaacson & Co. LLC owned approximately 0.23% of LendingClub worth $2,912,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in LendingClub by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock valued at $98,502,000 after buying an additional 336,827 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of LendingClub in the first quarter worth approximately $164,000. GSA Capital Partners LLP grew its holdings in shares of LendingClub by 38.2% during the first quarter. GSA Capital Partners LLP now owns 143,839 shares of the credit services provider’s stock worth $1,264,000 after buying an additional 39,733 shares in the last quarter. Empowered Funds LLC raised its holdings in LendingClub by 8.2% in the 1st quarter. Empowered Funds LLC now owns 314,729 shares of the credit services provider’s stock valued at $2,766,000 after acquiring an additional 23,790 shares during the last quarter. Finally, Swiss National Bank lifted its position in LendingClub by 1.0% during the first quarter. Swiss National Bank now owns 216,360 shares of the credit services provider’s stock worth $1,902,000 after buying an additional 2,100 shares in the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wedbush increased their price target on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday. Piper Sandler restated an “overweight” rating and issued a $15.00 price target (up previously from $13.00) on shares of LendingClub in a research note on Thursday. Compass Point increased their target price on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday. Keefe, Bruyette & Woods raised shares of LendingClub from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $11.50 to $15.00 in a report on Thursday, October 10th. Finally, Jefferies Financial Group raised their price target on LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.38.

LendingClub Price Performance

Shares of NYSE:LC opened at $13.59 on Friday. LendingClub Co. has a 12 month low of $4.73 and a 12 month high of $15.52. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 35.76 and a beta of 2.04. The business’s 50 day simple moving average is $11.69 and its 200-day simple moving average is $10.02.

LendingClub (NYSE:LC) last announced its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The business had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $190.40 million. During the same quarter last year, the business posted $0.05 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities analysts anticipate that LendingClub Co. will post 0.39 earnings per share for the current year.

Insider Transactions at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $11.36, for a total transaction of $193,120.00. Following the transaction, the chief executive officer now directly owns 1,373,273 shares in the company, valued at approximately $15,600,381.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 51,703 shares of company stock worth $562,705 over the last ninety days. 3.31% of the stock is currently owned by corporate insiders.

About LendingClub

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.