LendingClub Corp (LC) : Foundation Capital reduced its stake in LendingClub Corp by 19.28% during the most recent quarter end. The investment management company now holds a total of 21,849,648 shares of LendingClub Corp which is valued at $101,382,367 after selling 5,217,504 shares in LendingClub Corp , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.LendingClub Corp makes up approximately 25.27% of Foundation Capital’s portfolio.
Other Hedge Funds, Including , New Jersey Better Educational Savings Trust sold out all of its stake in LC during the most recent quarter. The investment firm sold 42,000 shares of LC which is valued $194,880.Evercore Wealth Management boosted its stake in LC in the latest quarter, The investment management firm added 1,069,870 additional shares and now holds a total of 2,740,353 shares of LendingClub Corp which is valued at $12,715,238. LendingClub Corp makes up approx 0.55% of Evercore Wealth Management’s portfolio.Proficio Capital Partners boosted its stake in LC in the latest quarter, The investment management firm added 132 additional shares and now holds a total of 167 shares of LendingClub Corp which is valued at $772.Artemis Investment Management Llp boosted its stake in LC in the latest quarter, The investment management firm added 39,000 additional shares and now holds a total of 54,000 shares of LendingClub Corp which is valued at $251,100. LendingClub Corp makes up approx 0.01% of Artemis Investment Management Llp’s portfolio. Trellus Management Company sold out all of its stake in LC during the most recent quarter. The investment firm sold 25,000 shares of LC which is valued $115,250.
LendingClub Corp opened for trading at $4.78 and hit $4.93 on the upside on Monday, eventually ending the session at $4.79, with a gain of 0.84% or 0.04 points. The heightened volatility saw the trading volume jump to 1,52,05,156 shares. Company has a market cap of $1,828 M.
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.