PDT Partners LLC acquired a new position in LendingClub Corporation (NYSE:LC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,929,563 shares of the credit services provider’s stock, valued at approximately $10,632,000. PDT Partners LLC owned 0.47% of LendingClub Corporation as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of LC. BlackRock Inc. raised its position in LendingClub Corporation by 3,276.7% in the first quarter. BlackRock Inc. now owns 22,099,607 shares of the credit services provider’s stock worth $121,326,000 after acquiring an additional 21,445,128 shares in the last quarter. Jericho Capital Asset Management L.P. bought a new stake in LendingClub Corporation in the first quarter worth about $32,440,000. JPMorgan Chase & Co. raised its position in LendingClub Corporation by 497.8% in the second quarter. JPMorgan Chase & Co. now owns 3,345,149 shares of the credit services provider’s stock worth $18,432,000 after acquiring an additional 2,785,549 shares in the last quarter. Nikko Asset Management Americas Inc. raised its position in LendingClub Corporation by 1,324.3% in the second quarter. Nikko Asset Management Americas Inc. now owns 2,908,500 shares of the credit services provider’s stock worth $16,026,000 after acquiring an additional 2,704,300 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in LendingClub Corporation by 1,284.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,791,600 shares of the credit services provider’s stock worth $15,382,000 after acquiring an additional 2,590,000 shares in the last quarter. 86.95% of the stock is owned by institutional investors and hedge funds.

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In other news, insider Sandeep Bhandari sold 16,028 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $6.07, for a total transaction of $97,289.96. Following the sale, the insider now owns 80,093 shares of the company’s stock, valued at $486,164.51. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Sameer Gulati sold 8,305 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $5.08, for a total value of $42,189.40. Following the sale, the chief operating officer now directly owns 265,657 shares in the company, valued at approximately $1,349,537.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 188,070 shares of company stock worth $1,120,725. Company insiders own 11.40% of the company’s stock.

LendingClub Corporation (NYSE:LC) traded down 2.40% during mid-day trading on Friday, reaching $6.09. The company’s stock had a trading volume of 2,860,769 shares. The stock’s 50 day moving average is $5.94 and its 200 day moving average is $5.64. The company’s market cap is $2.51 billion. LendingClub Corporation has a 12 month low of $4.64 and a 12 month high of $6.78.

LendingClub Corporation (NYSE:LC) last issued its earnings results on Monday, August 7th. The credit services provider reported ($0.06) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.06). LendingClub Corporation had a negative return on equity of 11.97% and a negative net margin of 24.52%. The firm had revenue of $139.60 million for the quarter, compared to analysts’ expectations of $134.02 million. During the same quarter last year, the business earned ($0.09) earnings per share. The company’s revenue was up 35.0% compared to the same quarter last year. Equities research analysts predict that LendingClub Corporation will post $0.04 EPS for the current year.

Several equities research analysts have commented on LC shares. ValuEngine upgraded shares of LendingClub Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Vetr cut shares of LendingClub Corporation from a “buy” rating to a “hold” rating and set a $6.55 price target on the stock. in a research report on Monday, September 4th. CIBC upgraded shares of LendingClub Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of LendingClub Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Finally, BidaskClub cut shares of LendingClub Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $6.78.

LendingClub Corporation Profile

LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.

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Institutional Ownership by Quarter for LendingClub Corporation (NYSE:LC)

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