Published on 26 Oct 2021 on Insider Monkey via Yahoo Finance

LendingClub Corp (LC): Are Hedge Funds Right About This Stock?

The 800+ hedge funds and famous money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the second quarter, which unveil their equity positions as of June 30th. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund portfolios. Our extensive review of these public filings is finally over, so this article is set to reveal the smart money sentiment towards LendingClub Corp (NYSE:LC).

Is LendingClub Corp (NYSE:LC) a bargain? The smart money was betting on the stock. The number of long hedge fund bets rose by 4 in recent months. LendingClub Corp (NYSE:LC) was in 23 hedge funds' portfolios at the end of June. The all time high for this statistic is 24. Our calculations also showed that LC isn't among the 30 most popular stocks among hedge funds (click for Q2 rankings).

According to most shareholders, hedge funds are viewed as unimportant, outdated investment tools of the past. While there are greater than 8000 funds in operation today, We hone in on the aristocrats of this group, about 850 funds. These investment experts have their hands on bulk of all hedge funds' total capital, and by paying attention to their highest performing picks, Insider Monkey has brought to light several investment strategies that have historically beaten Mr. Market. Insider Monkey's flagship short hedge fund strategy outstripped the S&P 500 short ETFs by around 20 percentage points per year since its inception in March 2017. Also, our monthly newsletter's portfolio of long stock picks returned 185.4% since March 2017 (through August 2021) and beat the S&P 500 Index by more than 79 percentage points. You can download a sample issue of this newsletter on our website.