Connor Clark & Lunn Investment Management Ltd. increased its position in shares of LendingClub Co. (NYSE:LC - Free Report) by 1,227.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 379,110 shares of the credit services provider's stock after buying an additional 350,548 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.34% of LendingClub worth $6,138,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in LendingClub during the fourth quarter worth $45,000. FMR LLC boosted its holdings in LendingClub by 32.1% during the third quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock worth $67,000 after buying an additional 1,424 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in LendingClub by 49.2% during the fourth quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock worth $97,000 after buying an additional 1,975 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in LendingClub during the fourth quarter worth $164,000. Finally, Vontobel Holding Ltd. acquired a new position in LendingClub during the fourth quarter worth $166,000. 74.08% of the stock is owned by hedge funds and other institutional investors.
LendingClub Price Performance
Shares of LC traded up $0.35 during mid-day trading on Wednesday, reaching $11.10. The stock had a trading volume of 821,953 shares, compared to its average volume of 2,016,032. LendingClub Co. has a 52-week low of $7.48 and a 52-week high of $18.75. The business's fifty day moving average is $13.71 and its 200 day moving average is $13.92. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 24.68 and a beta of 2.07.
Analyst Ratings Changes
LC has been the subject of a number of research analyst reports. Piper Sandler restated an "overweight" rating and set a $19.00 price objective (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $16.00 target price (down from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reduced their target price on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, LendingClub currently has an average rating of "Moderate Buy" and an average price target of $16.00.
View Our Latest Stock Analysis on LC
Insider Activity at LendingClub
In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total transaction of $274,040.00. Following the completion of the transaction, the chief executive officer now owns 1,312,184 shares of the company's stock, valued at $21,152,406.08. This trade represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Jordan Cheng sold 7,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction of $98,700.00. Following the transaction, the general counsel now directly owns 88,263 shares of the company's stock, valued at approximately $1,244,508.30. This trade represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,000 shares of company stock valued at $606,660. 3.31% of the stock is owned by company insiders.
LendingClub Profile
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Free Report)
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.
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