Algert Global LLC Has $3.49 Million Holdings in LendingClub Co. (NYSE:LC)

Algert Global LLC cut its stake in LendingClub Co. (NYSE:LC - Free Report) by 29.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,695 shares of the credit services provider's stock after selling 91,438 shares during the period. Algert Global LLC owned 0.19% of LendingClub worth $3,492,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of LendingClub by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider's stock worth $11,409,000 after buying an additional 45,307 shares during the last quarter. Victory Capital Management Inc. boosted its position in LendingClub by 301.0% in the 4th quarter. Victory Capital Management Inc. now owns 54,687 shares of the credit services provider's stock valued at $885,000 after buying an additional 41,048 shares during the last quarter. Raymond James Financial Inc. bought a new stake in LendingClub during the 4th quarter worth about $1,696,000. Invesco Ltd. increased its stake in shares of LendingClub by 87.1% in the 4th quarter. Invesco Ltd. now owns 637,458 shares of the credit services provider's stock valued at $10,320,000 after acquiring an additional 296,813 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in LendingClub during the 4th quarter worth approximately $470,000. 74.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, General Counsel Jordan Cheng sold 7,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total value of $98,700.00. Following the completion of the transaction, the general counsel now owns 88,263 shares of the company's stock, valued at approximately $1,244,508.30. This represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Scott Sanborn sold 5,250 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $10.34, for a total value of $54,285.00. Following the sale, the chief executive officer now directly owns 1,297,782 shares in the company, valued at approximately $13,419,065.88. This represents a 0.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,750 shares of company stock valued at $257,985 over the last three months. 3.19% of the stock is currently owned by company insiders.

LendingClub Stock Up 5.9%

Shares of NYSE LC traded up $0.62 during midday trading on Monday, reaching $11.20. 398,572 shares of the company's stock traded hands, compared to its average volume of 1,748,584. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 24.89 and a beta of 2.35. LendingClub Co. has a one year low of $7.81 and a one year high of $18.75. The stock's 50 day simple moving average is $10.27 and its 200-day simple moving average is $13.49.

LendingClub (NYSE:LC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. LendingClub had a net margin of 6.52% and a return on equity of 4.16%. The firm had revenue of $217.71 million during the quarter, compared to analyst estimates of $213.71 million. During the same period in the previous year, the firm earned $0.11 EPS. The business's quarterly revenue was up 21670.0% on a year-over-year basis. Equities analysts predict that LendingClub Co. will post 0.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on LC shares. StockNews.com downgraded shares of LendingClub from a "hold" rating to a "sell" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. reduced their price objective on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. Piper Sandler reissued an "overweight" rating and issued a $19.00 price target (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods cut their target price on LendingClub from $15.00 to $14.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $15.75.

LendingClub Profile

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.