Harspring Capital Management LLC Has $15.25 Million Holdings in LendingClub Co. (NYSE:LC)

Harspring Capital Management LLC reduced its holdings in LendingClub Co. (NYSE:LC) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,745,000 shares of the credit services provider’s stock after selling 105,000 shares during the quarter. LendingClub makes up approximately 3.6% of Harspring Capital Management LLC’s holdings, making the stock its 13th largest holding. Harspring Capital Management LLC owned about 1.59% of LendingClub worth $15,251,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Jackson Square Partners LLC lifted its holdings in LendingClub by 5.9% during the 4th quarter. Jackson Square Partners LLC now owns 9,723,943 shares of the credit services provider’s stock worth $84,987,000 after buying an additional 541,538 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in LendingClub by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,652,580 shares of the credit services provider’s stock worth $40,664,000 after buying an additional 73,515 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in LendingClub by 526.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,884,751 shares of the credit services provider’s stock worth $11,497,000 after buying an additional 1,583,882 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of LendingClub by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 848,315 shares of the credit services provider’s stock valued at $7,414,000 after acquiring an additional 16,298 shares during the last quarter. Finally, TCW Group Inc. raised its position in shares of LendingClub by 31.1% during the 4th quarter. TCW Group Inc. now owns 830,212 shares of the credit services provider’s stock valued at $7,256,000 after acquiring an additional 196,800 shares during the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on LC shares. Wedbush reiterated an “outperform” rating and set a $11.00 target price on shares of LendingClub in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods upped their target price on shares of LendingClub from $9.50 to $10.00 and gave the company a “market perform” rating in a research report on Wednesday, May 1st. BTIG Research started coverage on shares of LendingClub in a research report on Friday. They set a “buy” rating and a $12.00 target price for the company. Piper Sandler reiterated an “overweight” rating and set a $10.00 target price (up previously from $9.50) on shares of LendingClub in a research report on Wednesday, May 1st. Finally, StockNews.com cut shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, LendingClub has a consensus rating of “Moderate Buy” and an average price target of $11.50.

LendingClub Stock Up 0.5 %

Shares of LC traded up $0.04 during trading hours on Friday, reaching $8.37. The stock had a trading volume of 796,050 shares, compared to its average volume of 997,801. LendingClub Co. has a 52 week low of $4.73 and a 52 week high of $10.92. The firm has a 50-day moving average of $8.65 and a 200 day moving average of $8.30. The company has a market cap of $930.07 million, a P/E ratio of 24.62 and a beta of 2.07.

LendingClub (NYSE:LC) last released its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. LendingClub had a net margin of 4.69% and a return on equity of 3.04%. The business had revenue of $180.69 million during the quarter, compared to analysts’ expectations of $174.52 million. During the same quarter in the prior year, the company earned $0.13 EPS. As a group, equities analysts expect that LendingClub Co. will post 0.27 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Erin Selleck sold 4,083 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $8.88, for a total value of $36,257.04. Following the completion of the transaction, the director now directly owns 54,571 shares of the company’s stock, valued at approximately $484,590.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.31% of the company’s stock.

LendingClub Company 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.