LendingClub Co. (NYSE:LC) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its stake in shares of LendingClub Co. (NYSE:LC - Free Report) by 97.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 345,420 shares of the credit services provider's stock after purchasing an additional 170,715 shares during the period. Renaissance Technologies LLC owned approximately 0.31% of LendingClub worth $5,592,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in LendingClub in the fourth quarter valued at approximately $45,000. National Bank of Canada FI raised its stake in shares of LendingClub by 150.6% in the 4th quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider's stock valued at $66,000 after acquiring an additional 2,448 shares during the period. FMR LLC raised its stake in shares of LendingClub by 32.1% in the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock valued at $67,000 after acquiring an additional 1,424 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of LendingClub by 49.2% during the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock valued at $97,000 after acquiring an additional 1,975 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in LendingClub during the 4th quarter worth $164,000. Institutional investors and hedge funds own 74.08% of the company's stock.

LendingClub Trading Down 0.2 %

LC stock traded down $0.02 during midday trading on Friday, hitting $10.85. 290,918 shares of the company's stock were exchanged, compared to its average volume of 1,614,686. The firm has a 50 day moving average price of $10.81 and a 200-day moving average price of $13.64. LendingClub Co. has a 12-month low of $7.48 and a 12-month high of $18.75. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 24.18 and a beta of 2.09.

Analyst Upgrades and Downgrades

LC has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a research report on Monday, March 10th. Piper Sandler reiterated an "overweight" rating and set a $19.00 target price (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $16.00 price target (down previously from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, StockNews.com raised shares of LendingClub from a "sell" rating to a "hold" rating in a research report on Friday, April 4th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $16.00.

Insider Buying and Selling

In other LendingClub news, General Counsel Jordan Cheng sold 7,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction of $98,700.00. Following the sale, the general counsel now owns 88,263 shares in the company, valued at $1,244,508.30. This represents a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Scott Sanborn sold 17,000 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $13.76, for a total value of $233,920.00. Following the transaction, the chief executive officer now owns 1,295,184 shares in the company, valued at $17,821,731.84. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,250 shares of company stock worth $385,120. Insiders own 3.31% of the company's stock.

About LendingClub

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.