Cramer Rosenthal Mcglynn LLC Purchases New Stake in LendingClub Co. (NYSE:LC)

Cramer Rosenthal Mcglynn LLC purchased a new stake in LendingClub Co. (NYSE:LC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 829,661 shares of the credit services provider's stock, valued at approximately $13,432,000. Cramer Rosenthal Mcglynn LLC owned 0.74% of LendingClub as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of LendingClub in the 4th quarter valued at about $45,000. Sterling Capital Management LLC grew its holdings in shares of LendingClub by 818.6% during the fourth quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock worth $57,000 after buying an additional 3,119 shares in the last quarter. National Bank of Canada FI raised its position in LendingClub by 150.6% in the 4th quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider's stock valued at $66,000 after buying an additional 2,448 shares during the last quarter. FMR LLC lifted its stake in LendingClub by 32.1% in the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock valued at $67,000 after acquiring an additional 1,424 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in LendingClub by 49.2% during 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 during the last quarter. Institutional investors own 74.08% of the company's stock.

Insider Transactions at LendingClub

In related news, CEO Scott Sanborn sold 5,250 shares of the firm's stock in a transaction dated Wednesday, April 9th. The shares were 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 of the company's stock, valued at approximately $13,030,320. This trade represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael P. Zeisser acquired 20,000 shares of the business's stock in a transaction on Monday, February 3rd. The stock was acquired at an average cost of $12.88 per share, with a total value of $257,600.00. Following the acquisition, the director now directly owns 148,018 shares in the company, valued at approximately $1,906,471.84. This trade represents a 15.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 29,250 shares of company stock valued at $385,120. 3.31% of the stock is currently owned by corporate insiders.

LendingClub Trading Up 5.5 %

Shares of NYSE:LC traded up $0.54 during trading on Wednesday, reaching $10.41. 452,895 shares of the stock were exchanged, compared to its average volume of 1,614,953. The firm has a market cap of $1.19 billion, a PE ratio of 23.13 and a beta of 2.09. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $18.75. The stock has a 50-day moving average price of $10.95 and a 200-day moving average price of $13.67.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a report on Monday, March 10th. Piper Sandler reaffirmed an "overweight" rating and issued a $19.00 target price (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $16.00 price target (down from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, StockNews.com upgraded LendingClub from a "sell" rating to a "hold" rating in a research note on Friday, April 4th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $16.00.

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.