LendingClub Corp (LC) : Norwest Venture Partners X L P reduced its stake in LendingClub Corp by 28.06% during the most recent quarter end. The investment management company now holds a total of 12,822,020 shares of LendingClub Corp which is valued at $45 Million after selling 5,000,000 shares in LendingClub Corp , the firm said in a disclosure report filed with the SEC on May 11, 2016.LendingClub Corp makes up approximately 54.49% of Norwest Venture Partners X L P’s portfolio.
Other Hedge Funds, Including , Jefferies Group sold out all of its stake in LC during the most recent quarter. The investment firm sold 51,856 shares of LC which is valued $182,015.Spot Trading L.l.c reduced its stake in LC by selling 2,236 shares or 21.33% in the most recent quarter. The Hedge Fund company now holds 8,247 shares of LC which is valued at $28,947.Proshare Advisors reduced its stake in LC by selling 4,640 shares or 13.58% in the most recent quarter. The Hedge Fund company now holds 29,537 shares of LC which is valued at $209,713.Schwab Charles Investment Management Inc boosted its stake in LC in the latest quarter, The investment management firm added 72,038 additional shares and now holds a total of 461,569 shares of LendingClub Corp which is valued at $3.3 Million. Brc Investment Management added LC to its portfolio by purchasing 78,482 company shares during the most recent quarter which is valued at $620,008. LendingClub Corp makes up approx 0.09% of Brc Investment Management’s portfolio.
LendingClub Corp opened for trading at $3.65 and hit $4.02 on the upside on Monday, eventually ending the session at $3.94, with a gain of 12.25% or 0.43 points. The heightened volatility saw the trading volume jump to 5,67,08,260 shares. Company has a market cap of $1,503 M.
On the company’s financial health, LendingClub Corp reported $0.05 EPS for the quarter, based on the information available during the earnings call on May 9, 2016. Analyst had a consensus estimate of $0.05. The company had revenue of $151.30 million for the quarter, compared to analysts expectations of $147.90 million. The company’s revenue was up 86.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.
Many Wall Street Analysts have commented on LendingClub Corp. Shares were Reiterated by Compass Point on May 17, 2016 to “Sell” and Lowered the Price Target to $ 3 from a previous price target of $4 .LendingClub Corp was Downgraded by Guggenheim to ” Neutral” on May 10, 2016. LendingClub Corp was Downgraded by Pacific Crest to ” Sector Weight” on May 10, 2016.
LendingClub Corporation (Lending Club) is engaged in providing online marketplace for connecting borrowers and investors. The Company’s online marketplace connects borrowers. Lending Club’s marketplace allows borrowers and investors to engage in transactions relating to standard or custom program loans. The Company’s standard program loans are a part of the standard loan program. The standard program loans are three- or five-year unsecured personal loans which are offered to borrowers. These loans can be invested in through the purchase of notes issued pursuant to a Note Registration Statement and are available through the Company’s Website. The custom program loans include small business loans super prime consumer loans education and patient finance loans and personal loans. The Company’s technology platform supports its marketplace and makes available loan products to investor channels.