35,970 Shares in LendingClub Co. (NYSE:LC) Acquired by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC purchased a new position in LendingClub Co. (NYSE:LC) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 35,970 shares of the credit services provider’s stock, valued at approximately $411,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of LC. Baader Bank Aktiengesellschaft purchased a new position in LendingClub in the 2nd quarter valued at $600,000. GSA Capital Partners LLP lifted its holdings in LendingClub by 47.3% in the 3rd quarter. GSA Capital Partners LLP now owns 214,192 shares of the credit services provider’s stock valued at $2,448,000 after purchasing an additional 68,791 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in LendingClub by 813.3% in the 3rd quarter. International Assets Investment Management LLC now owns 181,737 shares of the credit services provider’s stock valued at $2,077,000 after purchasing an additional 161,837 shares in the last quarter. Quest Partners LLC lifted its holdings in LendingClub by 196.0% in the 3rd quarter. Quest Partners LLC now owns 141,214 shares of the credit services provider’s stock valued at $1,614,000 after purchasing an additional 93,506 shares in the last quarter. Finally, Interval Partners LP lifted its holdings in LendingClub by 54.3% in the 2nd quarter. Interval Partners LP now owns 495,039 shares of the credit services provider’s stock valued at $4,188,000 after purchasing an additional 174,130 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LC shares. Maxim Group raised their price objective on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 target price (up from $13.00) on shares of LendingClub in a research note on Thursday, October 24th. JPMorgan Chase & Co. raised their target price on LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Wedbush raised their target price on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods raised LendingClub from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $11.50 to $15.00 in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, LendingClub has an average rating of “Moderate Buy” and a consensus target price of $15.38.

Insider Activity

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $14.89, for a total value of $253,130.00. Following the sale, the chief executive officer now owns 1,339,273 shares of the company’s stock, valued at $19,941,774.97. This represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jordan Cheng sold 22,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $14.83, for a total transaction of $326,260.00. Following the completion of the sale, the general counsel now directly owns 89,385 shares in the company, valued at $1,325,579.55. This trade represents a 19.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,500 shares of company stock valued at $996,940. Company insiders own 3.31% of the company’s stock.

LendingClub Stock Up 5.2 %

LC opened at $16.73 on Monday. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 36.37 and a beta of 2.01. LendingClub Co. has a 52 week low of $5.51 and a 52 week high of $16.75. The business’s 50 day moving average is $13.09 and its two-hundred day moving average is $10.98.

LendingClub (NYSE:LC) last released its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.07 by $0.06. The company had revenue of $201.90 million for the quarter, compared to analyst estimates of $190.40 million. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 earnings per share. Equities analysts expect that LendingClub Co. will post 0.47 EPS for the current fiscal year.

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.