Karp Capital Management Corp lowered its position in LendingClub Corp (NYSE:LC) by 5.0% in the first quarter, HoldingsChannel.com reports. The firm owned 114,672 shares of the credit services provider’s stock after selling 6,000 shares during the period. Karp Capital Management Corp’s holdings in LendingClub were worth $354,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wiley BROS. Aintree Capital LLC acquired a new stake in shares of LendingClub during the fourth quarter worth about $26,000. NewFocus Financial Group LLC purchased a new stake in shares of LendingClub during the 4th quarter worth about $45,000. Telemus Capital LLC purchased a new stake in shares of LendingClub during the 4th quarter worth about $51,000. SG Americas Securities LLC purchased a new stake in shares of LendingClub during the 1st quarter worth about $60,000. Finally, United Services Automobile Association grew its holdings in shares of LendingClub by 21.3% during the 4th quarter. United Services Automobile Association now owns 70,999 shares of the credit services provider’s stock worth $187,000 after purchasing an additional 12,474 shares during the period. 87.59% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO Thomas W. Casey purchased 15,000 shares of LendingClub stock in a transaction that occurred on Thursday, February 28th. The shares were purchased at an average cost of $2.98 per share, with a total value of $44,700.00. Following the transaction, the chief financial officer now owns 190,805 shares of the company’s stock, valued at approximately $568,598.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary G. Meeker sold 276,500 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $3.41, for a total value of $942,865.00. The disclosure for this sale can be found here. Insiders have sold a total of 529,063 shares of company stock worth $1,788,388 over the last three months. 4.20% of the stock is currently owned by corporate insiders.

A number of brokerages have recently issued reports on LC. Maxim Group reiterated a “buy” rating and set a $4.50 target price on shares of LendingClub in a report on Wednesday, February 20th. Zacks Investment Research upgraded LendingClub from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a report on Saturday. Finally, Wedbush set a $4.00 target price on LendingClub and gave the stock a “hold” rating in a report on Wednesday, February 20th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. LendingClub presently has an average rating of “Hold” and a consensus target price of $4.88.

LendingClub stock traded down $0.05 during midday trading on Wednesday, hitting $3.34. 32,072 shares of the company were exchanged, compared to its average volume of 2,364,700. The firm has a market capitalization of $1.46 billion, a PE ratio of -47.57 and a beta of 1.67. The company has a debt-to-equity ratio of 2.27, a quick ratio of 3.93 and a current ratio of 4.88. LendingClub Corp has a fifty-two week low of $2.46 and a fifty-two week high of $4.55.

LendingClub (NYSE:LC) last released its quarterly earnings results on Tuesday, May 7th. The credit services provider reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $174.40 million for the quarter, compared to analyst estimates of $170.45 million. LendingClub had a negative return on equity of 3.19% and a negative net margin of 16.31%. LendingClub’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS. On average, analysts forecast that LendingClub Corp will post -0.04 earnings per share for the current fiscal year.

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LendingClub Profile

LendingClub Corporation operates an online lending marketplace platform that connects borrowers and investors in the United States. The company's marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient installment loans, auto refinance loans, and small business loans.

Further Reading: P/E Growth (PEG)

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Institutional Ownership by Quarter for LendingClub (NYSE:LC)

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