Private Ocean buys $3,052 stake in LendingClub Corp (LC)

LendingClub Corp (LC) : Private Ocean scooped up 349 additional shares in LendingClub Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 559 shares of LendingClub Corp which is valued at $3,052.

Other Hedge Funds, Including , Aberdeen Asset Management Plcuk added LC to its portfolio by purchasing 100,866 company shares during the most recent quarter which is valued at $468,018. Armbruster Capital Management added LC to its portfolio by purchasing 471 company shares during the most recent quarter which is valued at $2,176.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.Signaturefd boosted its stake in LC in the latest quarter, The investment management firm added 106 additional shares and now holds a total of 416 shares of LendingClub Corp which is valued at $1,922.

LendingClub Corp opened for trading at $5.41 and hit $5.91 on the upside on Monday, eventually ending the session at $5.82, with a gain of 7.78% or 0.42 points. The heightened volatility saw the trading volume jump to 1,35,29,485 shares. Company has a market cap of $2,276 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.

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