LendingClub Corp (LC) Down As Investments in Its Internet Consumer Loans Underwhelm

As industrywide interest jumped in Q1, key money managers were driving this bullishness. Partner Fund Management initiated the biggest position in LendingClub Corp (NYSE:LC), having $40.8 million invested in the company at the end of the quarter. Christopher Lyle’s SCGE Management also initiated a $10.4 million position during the quarter. The following funds were also among the new LC investors: Glenn Russell Dubin’s Highbridge Capital Management, Jim Simons’ Renaissance Technologies, and Eric Semler’s TCS Capital Management.

Let’s go over hedge fund activity in other stocks similar to LendingClub Corp (NYSE:LC). We will take a look at Allied World Assurance Co Holdings, AG. (NYSE:AWH), Autohome Inc (ADR) (NYSE:ATHM), Healthcare Realty Trust Inc (NYSE:HR), and International Game Technology (NYSE:IGT). All of these stocks’ market caps resemble LC’s market cap.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $223 million. That figure was $359 million in LC’s case. International Game Technology (NYSE:IGT) is the most popular stock in this table. On the other hand Healthcare Realty Trust Inc (NYSE:HR) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks LendingClub Corp (NYSE:LC) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None