Scge Management adds LendingClub Corp (LC) to its portfolio

LendingClub Corp (LC) : Scge Management added new position in LendingClub Corp during the most recent quarter end. The investment management firm now holds 1,250,000 shares of LendingClub Corp which is valued at $6,750,000 , the company said in a statement filed on Aug 15, 2016 with the SEC.LendingClub Corp makes up approximately 1.02% of Scge Management’s portfolio.

Other Hedge Funds, Including , Voya Investment Management boosted its stake in LC in the latest quarter, The investment management firm added 112,582 additional shares and now holds a total of 141,765 shares of LendingClub Corp which is valued at $765,531. Opera Trading Capital added LC to its portfolio by purchasing 259,611 company shares during the most recent quarter which is valued at $1,401,899. LendingClub Corp makes up approx 0.78% of Opera Trading Capital’s portfolio. Teacher Retirement System Of Texas added LC to its portfolio by purchasing 40,797 company shares during the most recent quarter which is valued at $195,418.Telemus Capital boosted its stake in LC in the latest quarter, The investment management firm added 122,155 additional shares and now holds a total of 288,275 shares of LendingClub Corp which is valued at $1,328,948. LendingClub Corp makes up approx 0.15% of Telemus Capital’s portfolio. Cribstone Capital Management added LC to its portfolio by purchasing 207 company shares during the most recent quarter which is valued at $954.

LendingClub Corp closed down -0.11 points or -2.03% at $5.3 with 46,41,127 shares getting traded on Thursday. Post opening the session at $5.43, the shares hit an intraday low of $5.25 and an intraday high of $5.51 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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