Schwab Charles Investment Management Inc. reduced its stake in LendingClub Corporation (NYSE:LC) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,293,654 shares of the credit services provider’s stock after selling 84,546 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.32% of LendingClub Corporation worth $7,129,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of LC. Vanguard Group Inc. increased its stake in LendingClub Corporation by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 27,102,968 shares of the credit services provider’s stock valued at $148,795,000 after buying an additional 1,119,288 shares during the last quarter. Karp Capital Management Corp acquired a new stake in LendingClub Corporation in the 1st quarter valued at $321,000. Bank of America Corp DE increased its stake in LendingClub Corporation by 497.0% in the 1st quarter. Bank of America Corp DE now owns 2,575,241 shares of the credit services provider’s stock valued at $14,138,000 after buying an additional 2,143,870 shares during the last quarter. Geode Capital Management LLC increased its stake in LendingClub Corporation by 8.6% in the 1st quarter. Geode Capital Management LLC now owns 2,460,579 shares of the credit services provider’s stock valued at $13,508,000 after buying an additional 194,756 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in LendingClub Corporation by 0.4% in the 1st quarter. SG Americas Securities LLC now owns 43,485 shares of the credit services provider’s stock valued at $239,000 after buying an additional 171 shares during the last quarter. 86.95% of the stock is currently owned by institutional investors and hedge funds.

LC has been the topic of several recent research reports. Zacks Investment Research lowered shares of LendingClub Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Morgan Stanley reiterated an “overweight” rating and issued a $7.00 price target (down from $8.00) on shares of LendingClub Corporation in a research note on Thursday, July 6th. Vetr lowered 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 note on Monday, September 4th. UBS AG upgraded shares of LendingClub Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 3rd. Finally, CIBC upgraded shares of LendingClub Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $6.78.

LendingClub Corporation (NYSE LC) opened at 6.39 on Monday. The stock’s 50 day moving average is $6.15 and its 200 day moving average is $5.72. The firm’s market capitalization is $2.63 billion. LendingClub Corporation has a 1-year low of $4.64 and a 1-year high of $6.78.

LendingClub Corporation (NYSE:LC) last released its quarterly earnings results on Monday, August 7th. The credit services provider reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). LendingClub Corporation had a negative net margin of 24.52% and a negative return on equity of 11.97%. The company had revenue of $139.60 million for the quarter, compared to analyst estimates of $134.02 million. During the same period last year, the firm earned ($0.09) earnings per share. The firm’s revenue was up 35.0% on a year-over-year basis. Analysts predict that LendingClub Corporation will post $0.04 EPS for the current fiscal year.

In related news, CEO Scott Sanborn sold 46,667 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $5.77, for a total transaction of $269,268.59. Following the completion of the sale, the chief executive officer now owns 970,337 shares in the company, valued at $5,598,844.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Timothy Bogan sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $6.50, for a total transaction of $162,500.00. The disclosure for this sale can be found here. Insiders have sold 213,070 shares of company stock worth $1,283,225 over the last three months. 11.40% of the stock is owned by insiders.

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LendingClub Corporation Company 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.

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

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