Sanctuary Advisors LLC Purchases New Position in LendingClub Co. (NYSE:LC)

Sanctuary Advisors LLC acquired a new position in LendingClub Co. (NYSE:LC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,137 shares of the credit services provider’s stock, valued at approximately $164,000.

Several other hedge funds have also modified their holdings of LC. Vontobel Holding Ltd. purchased a new position in shares of LendingClub in the 4th quarter worth $166,000. Entropy Technologies LP purchased a new position in LendingClub in the fourth quarter worth about $199,000. Highland Capital Management LLC purchased a new position in LendingClub in the fourth quarter worth about $180,000. Exchange Traded Concepts LLC bought a new stake in LendingClub during the fourth quarter worth approximately $280,000. Finally, SG Americas Securities LLC raised its position in LendingClub by 699.5% during the fourth quarter. SG Americas Securities LLC now owns 318,745 shares of the credit services provider’s stock valued at $5,160,000 after purchasing an additional 278,879 shares during the period. 74.08% of the stock is owned by hedge funds and other institutional investors.

LendingClub Stock Up 1.2 %

LC opened at $11.86 on Thursday. The business has a fifty day moving average of $14.77 and a 200 day moving average of $13.97. The stock has a market cap of $1.34 billion, a P/E ratio of 26.35 and a beta of 2.00. LendingClub Co. has a 52-week low of $7.48 and a 52-week high of $18.75.

Insider Transactions at LendingClub

In other news, General Counsel Jordan Cheng sold 7,000 shares of LendingClub stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total transaction of $98,700.00. Following the completion of the sale, the general counsel now directly owns 88,263 shares in the company, valued at approximately $1,244,508.30. The trade was a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total value of $274,040.00. Following the completion of the transaction, the chief executive officer now directly owns 1,312,184 shares in the company, valued at approximately $21,152,406.08. The trade was a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,000 shares of company stock worth $606,660. 3.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $17.00 target price (up previously from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $16.00 price objective (down from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. Finally, Piper Sandler reissued an “overweight” rating and issued a $19.00 target price (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.38.

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.