Deutsche Bank AG boosted its holdings in shares of LendingClub Corp (NYSE:LC) by 19.3% during the 4th quarter, HoldingsChannel reports. The fund owned 18,573,804 shares of the credit services provider’s stock after purchasing an additional 3,002,439 shares during the period. Deutsche Bank AG’s holdings in LendingClub were worth $76,708,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. ING Groep NV lifted its holdings in LendingClub by 11.0% during the third quarter. ING Groep NV now owns 111,282 shares of the credit services provider’s stock worth $678,000 after acquiring an additional 11,000 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in LendingClub by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 1,429,680 shares of the credit services provider’s stock worth $8,708,000 after acquiring an additional 12,840 shares in the last quarter. Swiss National Bank lifted its holdings in LendingClub by 2.8% during the third quarter. Swiss National Bank now owns 506,500 shares of the credit services provider’s stock worth $3,085,000 after acquiring an additional 13,900 shares in the last quarter. Prudential Financial Inc. lifted its holdings in LendingClub by 65.6% during the third quarter. Prudential Financial Inc. now owns 37,830 shares of the credit services provider’s stock worth $230,000 after acquiring an additional 14,980 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in LendingClub by 33.4% during the third quarter. SG Americas Securities LLC now owns 60,673 shares of the credit services provider’s stock worth $369,000 after acquiring an additional 15,207 shares in the last quarter. Hedge funds and other institutional investors own 89.80% of the company’s stock.
Shares of LendingClub Corp (NYSE LC) opened at $3.99 on Tuesday. LendingClub Corp has a twelve month low of $3.09 and a twelve month high of $6.56. The company has a debt-to-equity ratio of 3.22, a quick ratio of 5.47 and a current ratio of 5.79.
LC has been the topic of several recent analyst reports. Citigroup reduced their target price on LendingClub from $4.25 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Maxim Group reiterated a “buy” rating and set a $6.00 target price on shares of LendingClub in a report on Tuesday, February 20th. Zacks Investment Research lowered LendingClub from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 10th. Credit Suisse Group cut their price target on LendingClub from $5.60 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. Finally, Guggenheim lowered LendingClub from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. LendingClub has an average rating of “Hold” and an average target price of $6.24.
In related news, major shareholder Tian Qiao Chen bought 7,696,016 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were acquired at an average price of $3.57 per share, with a total value of $27,474,777.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth D. Denman bought 30,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was bought at an average cost of $3.16 per share, for a total transaction of $94,800.00. Following the transaction, the director now owns 30,000 shares of the company’s stock, valued at approximately $94,800. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 7,776,016 shares of company stock worth $27,761,077. 9.72% of the stock is owned by company insiders.
LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.
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