Arrowstreet Capital Limited Partnership Has $24.65 Million Stake in LendingClub Co. (NYSE:LC)

Arrowstreet Capital Limited Partnership raised its stake in shares of LendingClub Co. (NYSE:LC - Free Report) by 158.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,522,360 shares of the credit services provider's stock after acquiring an additional 933,680 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.35% of LendingClub worth $24,647,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in LC. State Street Corp raised its position in LendingClub by 2.2% in the 3rd quarter. State Street Corp now owns 3,896,816 shares of the credit services provider's stock valued at $44,541,000 after purchasing an additional 82,315 shares during the last quarter. Geode Capital Management LLC grew its holdings in LendingClub by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider's stock worth $29,265,000 after acquiring an additional 42,429 shares during the last quarter. American Century Companies Inc. increased its position in LendingClub by 9.3% in the 4th 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. Point72 Asset Management L.P. raised its stake in shares of LendingClub by 98.1% in the third quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider's stock worth $17,686,000 after acquiring an additional 766,287 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of LendingClub by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider's stock worth $11,409,000 after purchasing an additional 45,307 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company's stock.

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Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com raised shares of LendingClub from a "sell" rating to a "hold" rating in a report on Friday. Piper Sandler reaffirmed an "overweight" rating and set a $19.00 price target (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price objective on LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research report on Monday, March 10th. Finally, 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 note on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $16.00.

LendingClub Stock Up 2.4 %

LendingClub stock traded up $0.21 during mid-day trading on Tuesday, hitting $9.04. 150,073 shares of the company's stock were exchanged, compared to its average volume of 1,606,738. The firm has a market capitalization of $1.03 billion, a P/E ratio of 20.06 and a beta of 2.09. The company's 50 day simple moving average is $12.09 and its 200-day simple moving average is $13.87. LendingClub Co. has a fifty-two week low of $7.48 and a fifty-two week high of $18.75.

Insider Activity at LendingClub

In other LendingClub 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 value of $98,700.00. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $13.76, for a total value of $233,920.00. Following the completion of the sale, the chief executive officer now directly owns 1,295,184 shares of the company's stock, valued at approximately $17,821,731.84. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. 3.31% of the stock is owned by insiders.

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.