Vanguard Group Inc. Trims Stake in LendingClub Co. (NYSE:LC)

Vanguard Group Inc. decreased its holdings in shares of LendingClub Co. (NYSE:LC) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,027,171 shares of the credit services provider’s stock after selling 28,701 shares during the quarter. Vanguard Group Inc. owned 0.11% of LendingClub worth $194,720,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Picton Mahoney Asset Management purchased a new stake in shares of LendingClub in the 4th quarter worth $9,788,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of LendingClub by 1,227.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,110 shares of the credit services provider’s stock valued at $6,138,000 after buying an additional 350,548 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of LendingClub by 699.5% in the 4th quarter. SG Americas Securities LLC now owns 318,745 shares of the credit services provider’s stock valued at $5,160,000 after buying an additional 278,879 shares in the last quarter. American Century Companies Inc. boosted its stake in LendingClub by 9.3% in the fourth quarter. American Century Companies Inc. now owns 1,895,699 shares of the credit services provider’s stock valued at $30,691,000 after acquiring an additional 160,916 shares in the last quarter. Finally, Barclays PLC grew its stake in LendingClub by 206.6% during the 3rd quarter. Barclays PLC now owns 225,902 shares of the credit services provider’s stock worth $2,582,000 after buying an additional 152,224 shares during the last quarter. Hedge funds and other institutional investors own 74.08% of the company’s stock.

LendingClub Stock Down 8.0 %

LendingClub stock opened at $8.68 on Monday. The business’s 50-day moving average price is $12.25 and its 200 day moving average price is $13.89. The firm has a market cap of $983.61 million, a price-to-earnings ratio of 19.28 and a beta of 2.07. LendingClub Co. has a 52 week low of $7.48 and a 52 week high of $18.75.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LC. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $16.00 price objective (down from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. StockNews.com raised LendingClub from a “sell” rating to a “hold” rating in a research report on Friday. Piper Sandler reissued an “overweight” rating and issued a $19.00 price objective (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. decreased their target price on LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, LendingClub has an average rating of “Moderate Buy” and an average target price of $16.00.

Insiders Place Their Bets

In other LendingClub news, Director Michael P. Zeisser purchased 20,000 shares of LendingClub stock in a transaction that occurred on Monday, February 3rd. The stock was bought at an average price of $12.88 per share, with a total value of $257,600.00. Following the acquisition, the director now owns 148,018 shares of the company’s stock, valued at $1,906,471.84. This trade represents a 15.62 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction that occurred 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 represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. 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.