Jackson Square Partners LLC has recently announced that it has increased stake in LendingClub Corp (NYSE:LC) by 0.05%. After grabbing 9.18 million shares, the institutional investor is now in possession of 4847.0 shares of the Financial Company. The new investment brought the stake of investor firm to 8.37% having worth around $57.85 million. Moreover, BlackRock Fund Advisors increased its share by 59210.0 to have a control over 7.08 million shares. And Dimensional Fund Advisors LP raised its holdings to 1.46 million shares by acquiring 4.58 million shares or 4.18% of the stake.
LendingClub Corp (LC) concluded trading on 12/21/23 at a closing price of $8.74, with 1.9 million shares of worth about $16.59 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -6.72% during that period and on Thursday the price saw a gain of about 3.31%. Currently the company’s common shares owned by public are about 106.55M shares, out of which, 105.29M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 130 times over the past 12 months. They bought 1,768,467 shares in 101 of the transactions. In 29 selling transactions, insiders dumped 787,029 shares.
Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in LendingClub Corp Vanguard Total Stock Market ETF is currently holding 3.28 million shares of worth totaling $20.69 million. The company recently came buying 0.0 shares which brought its stake up to 3.00% of the company’s outstanding shares. iShares Russell 2000 ETF bought 1428.0 shares, after which its hold over company’s outstanding shares expand to 2.65%, leaving 2.9 million shares with the mutual fund that have a worth of about $18.29 million. Vanguard Small Cap Index Fund, after buying 2.65 million shares, have now control over 2.42% of the stake in the company. It holds 1304.0 shares of worth $16.72 million.
LendingClub Corp (NYSE: LC) started trading at $8.58, above $0.12 from concluding price of the previous day. However, the stock later moved at a day high price of 8.75, or with a gain of 3.31%. Stock saw a price change of 4.80% in past 5 days and over the past one month there was a price change of 59.49%. Year-to-date (YTD), LC shares are showing a performance of -0.68% which increased to 1.04% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.73 but also hit the highest price of $10.92 during that period. The average intraday trading volume for LendingClub Corp shares is 1.45 million. The stock is currently trading 25.22% above its 20-day simple moving average (SMA20), while that difference is up 44.46% for SMA50 and it goes to 19.73% higher than SMA200.
Jackson Square Partners LLC acquired 9.18 million shares of LendingClub Corp having value of about $57.85 million. Data submitted at the U.S SEC by Jackson Square Partners LLC revealed that the firm now holds 4847.0 shares in the company valued at close to $42362.78, or have control over 0.05% stake in the company. LendingClub Corp (NYSE: LC) currently have 106.55M outstanding shares and institutions hold larger chunk of about 73.50% of that. Holding of mutual funds in the company is about 4.07% while other institutional holders and individual stake holders have control over 43.16% and 30.46% of the stake respectively.
The stock has a current market capitalization of $958.34M and its 3Y-monthly beta is at 2.01. PE ratio of stock for trailing 12 months is 17.84, while it has posted earnings per share of $0.49 in the same period. It has a debt-to-equity ratio of 0.08. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for LC, volatility over the week remained 4.78% while standing at 5.06% over the month.
Analysts are in expectations that LendingClub Corp (LC) stock would likely to be making an EPS of $0.01 in the current quarter, while forecast for next quarter EPS is $0.04 and it is $0.33 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.03 which is $0.05 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.19 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -89.90% while it is estimated to increase by 18.27% in next year.
Analysts at 10 brokerage firms have issued recommendations for the LendingClub Corp (LC)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.60. Out of those 10 Wall Street analysts, 7 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Piper Sandler on November 28, 2023 offering an Overweight rating for the stock and assigned a target price of $8 to it.
