SteelPeak Wealth LLC Purchases Shares of 49,142 LendingClub Co. (NYSE:LC)

SteelPeak Wealth LLC purchased a new stake in shares of LendingClub Co. (NYSE:LC) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 49,142 shares of the credit services provider’s stock, valued at approximately $562,000.

A number of other institutional investors have also recently made changes to their positions in LC. AlphaMark Advisors LLC acquired a new position in shares of LendingClub in the third quarter valued at approximately $32,000. EntryPoint Capital LLC grew its holdings in shares of LendingClub by 44.9% in the first quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock valued at $66,000 after purchasing an additional 2,328 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of LendingClub in the second quarter valued at approximately $71,000. Innealta Capital LLC acquired a new position in shares of LendingClub in the second quarter valued at approximately $72,000. Finally, Blue Trust Inc. grew its holdings in shares of LendingClub by 259.8% in the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after purchasing an additional 5,247 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

Insiders Place Their Bets

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $11.36, for a total value of $193,120.00. Following the transaction, the chief executive officer now directly owns 1,373,273 shares in the company, valued at approximately $15,600,381.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director John C. Morris sold 2,500 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total transaction of $35,900.00. Following the transaction, the director now directly owns 203,348 shares in the company, valued at $2,920,077.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $11.36, for a total transaction of $193,120.00. Following the transaction, the chief executive officer now owns 1,373,273 shares in the company, valued at approximately $15,600,381.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,203 shares of company stock worth $598,605. 3.31% of the stock is owned by insiders.

LendingClub Price Performance

LC stock opened at $14.18 on Friday. The company has a fifty day moving average price of $11.92 and a 200 day moving average price of $10.18. LendingClub Co. has a 12 month low of $5.05 and a 12 month high of $15.52. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 41.71 and a beta of 2.04.

LendingClub (NYSE:LC) last announced its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. The company had revenue of $201.90 million during the quarter, compared to the consensus estimate of $190.40 million. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. LendingClub’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 EPS. As a group, analysts anticipate that LendingClub Co. will post 0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Compass Point lifted their price objective on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. StockNews.com cut shares of LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on shares of LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Maxim Group boosted their price target on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Jefferies Financial Group boosted their price target on shares of LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.38.

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.