Nikko Asset Management Americas Inc. boosted its stake in LendingClub Corp (NYSE:LC) by 12.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,153,344 shares of the credit services provider’s stock after purchasing an additional 2,354,789 shares during the quarter. LendingClub comprises 2.3% of Nikko Asset Management Americas Inc.’s investment portfolio, making the stock its 12th biggest position. Nikko Asset Management Americas Inc. owned 5.00% of LendingClub worth $83,979,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the stock. Morgan Stanley grew its holdings in shares of LendingClub by 52.6% during the second quarter. Morgan Stanley now owns 15,681,719 shares of the credit services provider’s stock worth $59,433,000 after purchasing an additional 5,402,019 shares during the last quarter. ARK Investment Management LLC lifted its stake in LendingClub by 29.7% in the second quarter. ARK Investment Management LLC now owns 15,479,488 shares of the credit services provider’s stock valued at $58,667,000 after buying an additional 3,548,787 shares during the period. Dimensional Fund Advisors LP lifted its stake in LendingClub by 21.2% in the first quarter. Dimensional Fund Advisors LP now owns 10,635,696 shares of the credit services provider’s stock valued at $37,225,000 after buying an additional 1,862,610 shares during the period. JPMorgan Chase & Co. lifted its stake in LendingClub by 316.3% in the first quarter. JPMorgan Chase & Co. now owns 1,978,795 shares of the credit services provider’s stock valued at $6,926,000 after buying an additional 1,503,514 shares during the period. Finally, GAM Holding AG acquired a new position in LendingClub in the second quarter valued at approximately $4,307,000. 88.04% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on LC shares. Morgan Stanley lowered LendingClub from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $6.00 to $6.50 in a research report on Thursday, July 19th. Citigroup upped their target price on LendingClub from $3.50 to $4.15 and gave the stock a “neutral” rating in a research report on Monday, July 30th. Maxim Group reiterated a “buy” rating and set a $6.00 price target on shares of LendingClub in a report on Wednesday, August 8th. Finally, Zacks Investment Research downgraded LendingClub from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $5.39.
Shares of LendingClub stock opened at $3.64 on Wednesday. The company has a debt-to-equity ratio of 3.12, a quick ratio of 8.75 and a current ratio of 10.23. The stock has a market cap of $1.49 billion, a PE ratio of -21.41 and a beta of 1.38. LendingClub Corp has a 12 month low of $2.57 and a 12 month high of $5.95.
LendingClub (NYSE:LC) last posted its quarterly earnings results on Tuesday, November 6th. The credit services provider reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. LendingClub had a negative return on equity of 3.78% and a negative net margin of 29.82%. The business had revenue of $184.65 million for the quarter, compared to analyst estimates of $182.63 million. During the same period last year, the company earned ($0.03) EPS. LendingClub’s revenue for the quarter was up 19.9% compared to the same quarter last year. Research analysts forecast that LendingClub Corp will post -0.1 EPS for the current year.
LendingClub Corporation operates an online marketplace platform that connects borrowers and investors in the United States. Its marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient finance loans, auto refinance loans, and unsecured small business loans.
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