Y Intercept Hong Kong Ltd Has $1.56 Million Stake in LendingClub Corporation $LC

Y Intercept Hong Kong Ltd boosted its holdings in LendingClub Corporation (NYSE:LC) by 167.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,990 shares of the credit services provider’s stock after purchasing an additional 81,365 shares during the period. Y Intercept Hong Kong Ltd owned about 0.11% of LendingClub worth $1,564,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LC. Asset Management One Co. Ltd. boosted its stake in shares of LendingClub by 7.4% during the 2nd quarter. Asset Management One Co. Ltd. now owns 10,232 shares of the credit services provider’s stock worth $123,000 after buying an additional 706 shares during the last quarter. KLP Kapitalforvaltning AS raised its holdings in LendingClub by 5.3% during the second quarter. KLP Kapitalforvaltning AS now owns 25,840 shares of the credit services provider’s stock worth $311,000 after acquiring an additional 1,300 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in LendingClub by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 92,061 shares of the credit services provider’s stock valued at $1,107,000 after purchasing an additional 1,496 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in LendingClub by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,230 shares of the credit services provider’s stock valued at $178,000 after purchasing an additional 1,730 shares in the last quarter. Finally, Optimize Financial Inc increased its position in shares of LendingClub by 6.4% during the 1st quarter. Optimize Financial Inc now owns 32,628 shares of the credit services provider’s stock worth $337,000 after purchasing an additional 1,956 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors and hedge funds.

LendingClub Stock Performance

Shares of LC stock opened at $17.43 on Friday. LendingClub Corporation has a 52 week low of $7.90 and a 52 week high of $19.88. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 19.80 and a beta of 2.48. The company has a 50-day simple moving average of $16.55 and a 200 day simple moving average of $13.61.

LendingClub (NYSE:LC) last released its quarterly earnings results on Wednesday, October 22nd. The credit services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.07. LendingClub had a net margin of 10.94% and a return on equity of 7.81%. The firm had revenue of $266.23 million for the quarter, compared to analysts’ expectations of $256.27 million. During the same period in the prior year, the firm earned $0.13 EPS. The business’s revenue was up 31.8% on a year-over-year basis. Sell-side analysts forecast that LendingClub Corporation will post 0.72 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LC. BTIG Research increased their price objective on LendingClub from $16.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Piper Sandler reiterated an “overweight” rating and issued a $20.00 price target (up previously from $18.00) on shares of LendingClub in a research note on Thursday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of LendingClub in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised shares of LendingClub from a “neutral” rating to an “overweight” rating and upped their target price for the company from $17.00 to $22.00 in a report on Thursday, October 23rd. Finally, Citigroup began coverage on shares of LendingClub in a research note on Monday, July 7th. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $19.00.

Insider Buying and Selling

In related news, Director Erin Selleck sold 2,390 shares of the business’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $16.82, for a total value of $40,199.80. Following the completion of the sale, the director directly owned 73,987 shares in the company, valued at $1,244,461.34. The trade was a 3.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Andrew Labenne sold 20,903 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $17.04, for a total value of $356,187.12. Following the transaction, the chief financial officer owned 181,750 shares in the company, valued at $3,097,020. The trade was a 10.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 113,293 shares of company stock valued at $1,985,787. Insiders own 3.19% of the company’s stock.

LendingClub Profile

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.