111 Capital Sells 2,133 Shares of LendingClub Corporation $LC

111 Capital reduced its stake in LendingClub Corporation (NYSE:LC) by 15.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,331 shares of the credit services provider’s stock after selling 2,133 shares during the period. 111 Capital’s holdings in LendingClub were worth $136,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nuveen LLC bought a new stake in shares of LendingClub in the 1st quarter worth about $16,329,000. Wellington Management Group LLP increased its holdings in shares of LendingClub by 36.0% in the 1st quarter. Wellington Management Group LLP now owns 5,167,642 shares of the credit services provider’s stock worth $53,330,000 after buying an additional 1,368,057 shares during the last quarter. Boothbay Fund Management LLC increased its holdings in shares of LendingClub by 454.0% in the 1st quarter. Boothbay Fund Management LLC now owns 709,580 shares of the credit services provider’s stock worth $7,323,000 after buying an additional 581,491 shares during the last quarter. Long Focus Capital Management LLC increased its holdings in shares of LendingClub by 26.4% in the 1st quarter. Long Focus Capital Management LLC now owns 2,034,725 shares of the credit services provider’s stock worth $20,998,000 after buying an additional 425,000 shares during the last quarter. Finally, Driehaus Capital Management LLC increased its holdings in shares of LendingClub by 8.6% in the 1st quarter. Driehaus Capital Management LLC now owns 3,897,322 shares of the credit services provider’s stock worth $40,220,000 after buying an additional 308,523 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors.

LendingClub Price Performance

LendingClub stock opened at $15.37 on Wednesday. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 24.01 and a beta of 2.48. LendingClub Corporation has a 1 year low of $7.90 and a 1 year high of $18.75. The firm has a 50-day moving average of $16.16 and a two-hundred day moving average of $12.74.

LendingClub (NYSE:LC) last released its quarterly earnings data on Tuesday, July 29th. The credit services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.18. The company had revenue of $248.44 million during the quarter, compared to analysts’ expectations of $227.04 million. LendingClub had a net margin of 8.36% and a return on equity of 5.66%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 EPS. Research analysts expect that LendingClub Corporation will post 0.72 earnings per share for the current year.

Wall Street Analyst Weigh In

LC has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of LendingClub from $14.00 to $16.50 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Citigroup initiated coverage on shares of LendingClub in a report on Monday, July 7th. They issued a “market perform” rating on the stock. Piper Sandler set a $15.50 price target on shares of LendingClub and gave the company an “overweight” rating in a report on Wednesday, July 30th. Wall Street Zen upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of LendingClub in a report on Saturday, September 27th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.57.

Insider Transactions at LendingClub

In other news, CEO Scott Sanborn sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $17.04, for a total value of $511,200.00. Following the completion of the sale, the chief executive officer owned 1,240,070 shares of the company’s stock, valued at approximately $21,130,792.80. This represents a 2.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Erin Selleck sold 2,390 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $16.82, for a total transaction of $40,199.80. Following the completion of the sale, the director directly owned 73,987 shares of the company’s stock, valued at $1,244,461.34. The trade was a 3.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,498 shares of company stock valued at $1,774,183. Company insiders own 3.31% of the company’s stock.

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.