Ursa Fund Management LLC Takes $743,000 Position in LendingClub Co. (NYSE:LC)

Ursa Fund Management LLC purchased a new position in LendingClub Co. (NYSE:LC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 85,000 shares of the credit services provider’s stock, valued at approximately $743,000. LendingClub comprises about 1.3% of Ursa Fund Management LLC’s investment portfolio, making the stock its 12th largest position. Ursa Fund Management LLC owned approximately 0.08% of LendingClub at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Asset Management One Co. Ltd. increased its position in shares of LendingClub by 40.7% in the third quarter. Asset Management One Co. Ltd. now owns 8,217 shares of the credit services provider’s stock valued at $50,000 after acquiring an additional 2,377 shares during the period. Nisa Investment Advisors LLC increased its holdings in LendingClub by 363.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,999 shares of the credit services provider’s stock valued at $61,000 after purchasing an additional 5,489 shares during the period. Pathstone Family Office LLC bought a new position in LendingClub during the 3rd quarter valued at approximately $65,000. Maltin Wealth Management Inc. bought a new position in shares of LendingClub during the fourth quarter valued at $87,000. Finally, Acadian Asset Management LLC purchased a new position in shares of LendingClub in the 3rd quarter worth about $91,000. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

LendingClub Trading Down 1.0 %

Shares of LendingClub stock traded down $0.08 on Wednesday, reaching $8.12. The company had a trading volume of 88,898 shares, compared to its average volume of 1,420,668. The firm has a market cap of $896.53 million, a price-to-earnings ratio of 22.78 and a beta of 1.98. The firm’s 50-day moving average price is $8.24 and its two-hundred day moving average price is $7.52. LendingClub Co. has a 1 year low of $4.73 and a 1 year high of $10.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.89 and a quick ratio of 0.83.

LendingClub (NYSE:LC) last posted its quarterly earnings data on Tuesday, January 30th. The credit services provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. LendingClub had a net margin of 4.50% and a return on equity of 3.21%. The business had revenue of $185.60 million for the quarter, compared to analysts’ expectations of $182.13 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. The business’s revenue was down 29.3% compared to the same quarter last year. As a group, research analysts predict that LendingClub Co. will post 0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LC. StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Wedbush reissued an “outperform” rating and issued a $11.00 target price on shares of LendingClub in a report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.30.

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.