Shanda Asset Management Holdings Ltd buys $311,792,058 stake in LendingClub Corp (LC)

LendingClub Corp (LC) : Shanda Asset Management Holdings Ltd scooped up 53,846,496 additional shares in LendingClub Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 57,739,270 shares of LendingClub Corp which is valued at $311,792,058.LendingClub Corp makes up approximately 50.54% of Shanda Asset Management Holdings Ltd’s portfolio.

Other Hedge Funds, Including , Fmr sold out all of its stake in LC during the most recent quarter. The investment firm sold 9,476,689 shares of LC which is valued $51,174,121.Tower Research Capital (trc) boosted its stake in LC in the latest quarter, The investment management firm added 27,533 additional shares and now holds a total of 29,533 shares of LendingClub Corp which is valued at $159,478. LendingClub Corp makes up approx 0.01% of Tower Research Capital (trc)’s portfolio. Jennison Associates sold out all of its stake in LC during the most recent quarter. The investment firm sold 820,091 shares of LC which is valued $3,805,222.River Mercantile Asset Management Llp boosted its stake in LC in the latest quarter, The investment management firm added 290,550 additional shares and now holds a total of 510,300 shares of LendingClub Corp which is valued at $2,168,775. LendingClub Corp makes up approx 0.87% of River Mercantile Asset Management Llp’s portfolio.Creative Planning boosted its stake in LC in the latest quarter, The investment management firm added 1,120 additional shares and now holds a total of 2,600 shares of LendingClub Corp which is valued at $11,050.

LendingClub Corp closed down -0.15 points or -2.78% at $5.24 with 81,78,118 shares getting traded on Tuesday. Post opening the session at $5.33, the shares hit an intraday low of $5.15 and an intraday high of $5.41 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.

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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