SG Americas Securities LLC Has $9.87 Million Stock Holdings in LendingClub Corporation $LC

SG Americas Securities LLC raised its holdings in LendingClub Corporation (NYSE:LC) by 120.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 649,753 shares of the credit services provider’s stock after buying an additional 354,521 shares during the period. SG Americas Securities LLC owned about 0.57% of LendingClub worth $9,870,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Range Financial Group LLC acquired a new stake in shares of LendingClub in the 3rd quarter worth about $1,244,000. Sheets Smith Wealth Management bought a new stake in LendingClub during the 3rd quarter worth approximately $278,000. Sheets Smith Investment Management bought a new stake in LendingClub during the 3rd quarter worth approximately $660,000. Assenagon Asset Management S.A. raised its stake in shares of LendingClub by 184.1% in 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 purchasing an additional 1,375,002 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in shares of LendingClub by 8.8% in the second quarter. Osaic Holdings Inc. now owns 13,354 shares of the credit services provider’s stock valued at $160,000 after purchasing an additional 1,084 shares in the last quarter. 74.08% of the stock is currently owned by institutional investors and hedge funds.

LendingClub Price Performance

Shares of LendingClub stock opened at $19.99 on Friday. The firm has a market cap of $2.30 billion, a PE ratio of 22.71 and a beta of 2.08. LendingClub Corporation has a 1 year low of $7.90 and a 1 year high of $21.19. The stock has a fifty day moving average price of $18.64 and a 200-day moving average price of $16.43.

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

LendingClub declared that its board has authorized a stock repurchase program on Wednesday, November 5th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the credit services provider to reacquire up to 4.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

LC has been the subject of several recent research reports. Janney Montgomery Scott upped their price target on LendingClub from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Piper Sandler reaffirmed an “overweight” rating and set a $20.00 price objective (up from $18.00) on shares of LendingClub in a report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of LendingClub in a report on Monday, December 29th. JPMorgan Chase & Co. raised their price target on shares of LendingClub from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Finally, Citizens Jmp raised shares of LendingClub from a “market perform” rating to an “outperform” rating and set a $23.00 price objective for the company in a research report on Monday, November 10th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, LendingClub presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.57.

Insider Buying and Selling

In other news, CEO Scott Sanborn sold 30,000 shares of the stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $19.29, for a total transaction of $578,700.00. Following the completion of the transaction, the chief executive officer directly owned 1,210,070 shares of the company’s stock, valued at $23,342,250.30. This represents a 2.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Erin Selleck sold 2,390 shares of LendingClub stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $19.47, for a total transaction of $46,533.30. Following the completion of the sale, the director directly owned 76,377 shares in the company, valued at $1,487,060.19. This trade represents a 3.03% decrease in their position. The SEC filing for this sale provides additional information. 3.19% of the stock is owned by corporate insiders.

About LendingClub

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.