Jump Financial LLC trimmed its holdings in shares of LendingClub Co. (NYSE:LC - Free Report) by 30.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,282 shares of the credit services provider's stock after selling 54,051 shares during the period. Jump Financial LLC owned 0.11% of LendingClub worth $2,045,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in shares of LendingClub in the 4th quarter valued at about $45,000. Sterling Capital Management LLC increased its position in shares of LendingClub by 818.6% in the fourth quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock valued at $57,000 after acquiring an additional 3,119 shares during the last quarter. National Bank of Canada FI increased its position in LendingClub by 150.6% during the fourth quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider's stock worth $66,000 after buying an additional 2,448 shares during the last quarter. FMR LLC increased its position in LendingClub by 32.1% during the third quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock worth $67,000 after buying an additional 1,424 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in LendingClub by 49.2% during the fourth quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock worth $97,000 after buying an additional 1,975 shares during the last quarter. 74.08% of the stock is owned by institutional investors.
Insider Buying and Selling at LendingClub
In other news, CEO Scott Sanborn sold 17,000 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $13.76, for a total transaction of $233,920.00. Following the transaction, the chief executive officer now directly owns 1,295,184 shares of the company's stock, valued at $17,821,731.84. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael P. Zeisser purchased 20,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were bought at an average price of $12.88 per share, with a total value of $257,600.00. Following the acquisition, the director now directly owns 148,018 shares of the company's stock, valued at $1,906,471.84. This represents a 15.62 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 29,250 shares of company stock valued at $385,120. 3.31% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on LC. StockNews.com upgraded LendingClub from a "sell" rating to a "hold" rating in a report on Friday, April 4th. JPMorgan Chase & Co. cut their price target on LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $16.00 price target (down from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. Finally, Piper Sandler reiterated 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. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, LendingClub currently has an average rating of "Moderate Buy" and an average price target of $16.00.
Check Out Our Latest Research Report on LC
LendingClub Price Performance
Shares of LendingClub stock traded up $0.49 during midday trading on Thursday, reaching $10.74. The company had a trading volume of 279,602 shares, compared to its average volume of 1,615,409. The stock has a fifty day moving average price of $10.88 and a 200 day moving average price of $13.65. The firm has a market cap of $1.23 billion, a PE ratio of 23.86 and a beta of 2.09. LendingClub Co. has a fifty-two week low of $7.48 and a fifty-two week high of $18.75.
LendingClub Profile
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Free Report)
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.
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