Barclays PLC Buys 265,827 Shares of LendingClub Co. (NYSE:LC)

Barclays PLC increased its holdings in LendingClub Co. (NYSE:LC - Free Report) by 117.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 491,729 shares of the credit services provider's stock after purchasing an additional 265,827 shares during the quarter. Barclays PLC owned approximately 0.44% of LendingClub worth $7,962,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in shares of LendingClub in the 4th quarter valued at $45,000. Sterling Capital Management LLC lifted its holdings in LendingClub by 818.6% in the fourth quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock valued at $57,000 after buying an additional 3,119 shares during the period. National Bank of Canada FI boosted its position in LendingClub by 150.6% during the fourth 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 last quarter. FMR LLC grew its holdings in LendingClub by 32.1% during the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock worth $67,000 after acquiring an additional 1,424 shares during the period. Finally, Jones Financial Companies Lllp raised its position in shares of LendingClub by 49.2% in the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock worth $97,000 after acquiring an additional 1,975 shares in the last quarter. 74.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on LC. StockNews.com upgraded LendingClub from a "sell" rating to a "hold" rating in a research report on Friday, April 4th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $16.00 price target (down from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price objective on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. Finally, Piper Sandler reiterated an "overweight" rating and set a $19.00 target price (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Two equities research 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 stock has an average rating of "Moderate Buy" and an average target price of $16.00.

Insiders Place Their Bets

In other LendingClub news, General Counsel Jordan Cheng sold 7,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total value of $98,700.00. Following the completion of the sale, the general counsel now directly owns 88,263 shares of the company's stock, valued at approximately $1,244,508.30. This represents a 7.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $10.00, for a total transaction of $52,500.00. Following the transaction, the chief executive officer now directly owns 1,303,032 shares in the company, valued at approximately $13,030,320. This represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,500 shares of company stock valued at $439,405. Corporate insiders own 3.31% of the company's stock.

LendingClub Price Performance

Shares of NYSE:LC traded up $0.09 during midday trading on Friday, hitting $10.96. 1,222,213 shares of the company's stock were exchanged, compared to its average volume of 1,626,648. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $18.75. The company has a market cap of $1.25 billion, a PE ratio of 24.36 and a beta of 2.09. The stock has a 50 day moving average price of $10.74 and a 200-day moving average price of $13.64.

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.