Tairen Capital Ltd adds LendingClub Corp (LC) to its portfolio

LendingClub Corp (LC) : Tairen Capital Ltd added new position in LendingClub Corp during the most recent quarter end. The investment management firm now holds 30,000 shares of LendingClub Corp which is valued at $139,500 , the company said in a statement filed on Jul 26, 2016 with the SEC.LendingClub Corp makes up approximately 0.04% of Tairen Capital Ltd’s portfolio.

Other Hedge Funds, Including , American Century Companies Inc sold out all of its stake in LC during the most recent quarter. The investment firm sold 10,062,527 shares of LC which is valued $46,790,751. Daiwa Securities Group added LC to its portfolio by purchasing 21,080 company shares during the most recent quarter which is valued at $98,022. Checchi Capital Advisers sold out all of its stake in LC during the most recent quarter. The investment firm sold 1,225 shares of LC which is valued $5,402.Hamilton Lane Advisors reduced its stake in LC by selling 676,355 shares or 96.37% in the most recent quarter. The Hedge Fund company now holds 25,485 shares of LC which is valued at $108,311. LendingClub Corp makes up approx 0.05% of Hamilton Lane Advisors’s portfolio.

LendingClub Corp opened for trading at $4.58 and hit $4.62 on the upside on Friday, eventually ending the session at $4.62, with a gain of 0.43% or 0.02 points. The heightened volatility saw the trading volume jump to 45,24,048 shares. Company has a market cap of $1,763 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. LendingClub Corp was Upgraded by Keefe Bruyette to ” Mkt Perform” on Jun 8, 2016. Shares were Downgraded by FBR Capital on Jun 8, 2016 to ” Mkt Perform” and Lowered the Price Target to $ 4 from a previous price target of $7 .LendingClub Corp was Resumed by Morgan Stanley to “Equal-Weight” on May 31, 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.

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