188,150 Shares in LendingClub Corporation $LC Purchased by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust purchased a new position in shares of LendingClub Corporation (NYSE:LC) in the third quarter, HoldingsChannel reports. The institutional investor purchased 188,150 shares of the credit services provider’s stock, valued at approximately $2,858,000.

Other large investors also recently modified their holdings of the company. Senvest Management LLC raised its holdings in shares of LendingClub by 23.5% in the 2nd quarter. Senvest Management LLC now owns 5,881,290 shares of the credit services provider’s stock worth $70,752,000 after buying an additional 1,117,241 shares in the last quarter. Geode Capital Management LLC grew its position in LendingClub by 1.3% in the second quarter. Geode Capital Management LLC now owns 2,699,141 shares of the credit services provider’s stock valued at $32,476,000 after acquiring an additional 34,221 shares during the period. Assenagon Asset Management S.A. raised its stake in LendingClub by 184.1% during the third quarter. Assenagon Asset Management S.A. now owns 2,121,802 shares of the credit services provider’s stock worth $32,230,000 after acquiring an additional 1,375,002 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of LendingClub by 32.1% during the second quarter. Bank of America Corp DE now owns 961,530 shares of the credit services provider’s stock valued at $11,567,000 after acquiring an additional 233,665 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of LendingClub by 1.4% during the first quarter. Goldman Sachs Group Inc. now owns 852,005 shares of the credit services provider’s stock valued at $8,793,000 after acquiring an additional 12,019 shares during the period. 74.08% of the stock is currently owned by institutional investors.

Insider Transactions at LendingClub

In related news, Director Erin Selleck sold 2,390 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $19.47, for a total value of $46,533.30. Following the transaction, the director owned 76,377 shares in the company, valued at $1,487,060.19. This trade represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.19% of the stock is currently owned by corporate insiders.

LendingClub Trading Down 2.3%

Shares of NYSE LC opened at $21.07 on Friday. LendingClub Corporation has a 1-year low of $7.90 and a 1-year high of $21.67. The company has a 50-day moving average of $19.12 and a two-hundred day moving average of $17.02. The company has a market cap of $2.43 billion, a PE ratio of 23.95 and a beta of 2.08.

LendingClub (NYSE:LC) last announced its quarterly earnings data on Wednesday, October 22nd. The credit services provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The firm had revenue of $107.79 million for the quarter, compared to analyst estimates of $256.27 million. LendingClub had a return on equity of 7.68% and a net margin of 10.94%.The business’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period last year, the company earned $0.13 EPS. As a group, equities research analysts forecast that LendingClub Corporation will post 0.72 earnings per share for the current year.

LendingClub declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 5th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the credit services provider to buy up to 4.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of LendingClub from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Zacks Research cut shares of LendingClub from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of LendingClub in a research note on Monday, December 29th. Janney Montgomery Scott boosted their target price on LendingClub from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Finally, Keefe, Bruyette & Woods raised their price target on LendingClub from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.57.

LendingClub Company Profile

LendingClub Corporation operates an online lending marketplace that connects borrowers seeking personal and small business credit with individual and institutional investors. The platform leverages technology to streamline the loan application and underwriting process, offering unsecured personal loans, auto refinancing, and small business loans. In addition to lending products, LendingClub provides high-yield savings accounts and certificates of deposit through its banking charter, following its acquisition of Radius Bank in 2021.

Founded in 2006 by Renaud Laplanche, LendingClub pioneered peer-to-peer lending in the United States, helping to democratize access to credit and investment opportunities.