EAM Investors LLC Acquires Shares of 176,043 LendingClub Co. (NYSE:LC)

EAM Investors LLC acquired a new position in shares of LendingClub Co. (NYSE:LC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 176,043 shares of the credit services provider's stock, valued at approximately $2,850,000. EAM Investors LLC owned approximately 0.16% of LendingClub at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new stake in LendingClub during the 4th quarter valued at $45,000. Sterling Capital Management LLC lifted its position in shares of 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 acquiring an additional 3,119 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of 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 increased its position 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 purchasing an additional 1,424 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in LendingClub by 49.2% in the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock valued at $97,000 after purchasing an additional 1,975 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors and hedge funds.

LendingClub Stock Up 4.4 %

Shares of NYSE LC traded up $0.41 during trading on Tuesday, hitting $9.66. 208,292 shares of the company traded hands, compared to its average volume of 1,755,141. The firm has a market capitalization of $1.10 billion, a P/E ratio of 21.47 and a beta of 2.09. The company has a 50-day moving average price of $11.02 and a 200-day moving average price of $13.70. LendingClub Co. has a 1 year low of $7.48 and a 1 year high of $18.75.

Insider Buying and Selling at LendingClub

In related news, General Counsel Jordan Cheng sold 7,000 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total transaction 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,295,184 shares in the company, valued at $17,821,731.84. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,250 shares of company stock valued at $385,120. Company insiders own 3.31% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LC. Keefe, Bruyette & Woods reiterated 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. cut their price target on LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a report on Monday, March 10th. Piper Sandler reissued 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. Finally, StockNews.com raised LendingClub from a "sell" rating to a "hold" rating in a research report on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $16.00.

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.