Long Focus Capital Management LLC Sells 800,000 Shares of LendingClub Co. (NYSE:LC)

Long Focus Capital Management LLC trimmed its holdings in LendingClub Co. (NYSE:LC - Free Report) by 33.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,609,725 shares of the credit services provider's stock after selling 800,000 shares during the quarter. LendingClub comprises about 0.8% of Long Focus Capital Management LLC's portfolio, making the stock its 21st biggest position. Long Focus Capital Management LLC owned approximately 1.43% of LendingClub worth $26,061,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in LendingClub by 10.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 82,952 shares of the credit services provider's stock valued at $1,343,000 after purchasing an additional 7,601 shares in the last quarter. Hsbc Holdings PLC increased its position in LendingClub by 18.9% in the 4th quarter. Hsbc Holdings PLC now owns 22,809 shares of the credit services provider's stock valued at $373,000 after buying an additional 3,627 shares in the last quarter. MetLife Investment Management LLC raised its stake in LendingClub by 4.8% during the 4th quarter. MetLife Investment Management LLC now owns 66,251 shares of the credit services provider's stock worth $1,073,000 after buying an additional 3,064 shares during the period. First Trust Advisors LP acquired a new stake in LendingClub in the fourth quarter valued at approximately $2,445,000. Finally, Cramer Rosenthal Mcglynn LLC acquired a new stake in LendingClub in the fourth quarter valued at approximately $13,432,000. Institutional investors own 74.08% of the company's stock.

LendingClub Stock Down 2.5 %

LendingClub stock traded down $0.27 during midday trading on Monday, hitting $10.69. 254,781 shares of the stock were exchanged, compared to its average volume of 1,621,242. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 23.78 and a beta of 2.09. LendingClub Co. has a 52-week low of $7.48 and a 52-week high of $18.75. The business's 50-day moving average price is $10.74 and its 200-day moving average price is $13.66.

Insider Transactions at LendingClub

In other LendingClub news, Director Michael P. Zeisser acquired 20,000 shares of LendingClub stock in a transaction that occurred on Monday, February 3rd. The stock was acquired at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the purchase, the director now owns 148,018 shares of the company's stock, valued at approximately $1,906,471.84. This represents a 15.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Sanborn sold 5,250 shares of the business's stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $10.00, for a total value of $52,500.00. Following the sale, the chief executive officer now owns 1,303,032 shares in the company, valued at approximately $13,030,320. The trade was a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,500 shares of company stock worth $439,405 in the last 90 days. Insiders own 3.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on LC shares. StockNews.com upgraded LendingClub from a "sell" rating to a "hold" rating in a report on Friday, April 4th. JPMorgan Chase & Co. dropped 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. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $16.00 target price (down from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $19.00 price target (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $16.00.

LendingClub Company 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.