Canaan Partners Vii Lowers stake in LendingClub Corp (LC)

LendingClub Corp (LC) : Canaan Partners Vii reduced its stake in LendingClub Corp by 46.27% during the most recent quarter end. The investment management company now holds a total of 13,933,675 shares of LendingClub Corp which is valued at $82,905,366 after selling 12,000,000 shares in LendingClub Corp , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.LendingClub Corp makes up approximately 86.61% of Canaan Partners Vii’s portfolio.

Other Hedge Funds, Including , First Mercantile Trust Co sold out all of its stake in LC during the most recent quarter. The investment firm sold 11,000 shares of LC which is valued $65,450.Telemus Capital boosted its stake in LC in the latest quarter, The investment management firm added 253,972 additional shares and now holds a total of 542,247 shares of LendingClub Corp which is valued at $3,345,664. LendingClub Corp makes up approx 0.37% of Telemus Capital’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in LC by selling 42,241 shares or 29.22% in the most recent quarter. The Hedge Fund company now holds 102,316 shares of LC which is valued at $631,290.

LendingClub Corp closed down -0.1 points or -1.65% at $5.95 with 62,04,714 shares getting traded on Friday. Post opening the session at $6.03, the shares hit an intraday low of $5.865 and an intraday high of $6.12 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, LendingClub Corp reported $-0.09 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus of $-0.02. The company had revenue of $102.39 million for the quarter, compared to analysts expectations of $100.42 million. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.

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.

Leave a Reply

LendingClub Corp - Is it time to Sell?

Top Brokerage Firms are advising their investors on LendingClub Corp. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.