Empowered Funds LLC Decreases Stock Holdings in LendingClub Co. (NYSE:LC)

Empowered Funds LLC reduced its stake in shares of LendingClub Co. (NYSE:LC - Free Report) by 71.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,552 shares of the credit services provider's stock after selling 37,005 shares during the quarter. Empowered Funds LLC's holdings in LendingClub were worth $236,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC grew its holdings in LendingClub by 32.1% in 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 last quarter. Blue Trust Inc. boosted its holdings in shares of LendingClub by 259.8% during the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider's stock worth $83,000 after purchasing an additional 5,247 shares during the period. Princeton Capital Management LLC bought a new stake in shares of LendingClub in the third quarter worth about $171,000. Highland Capital Management LLC purchased a new position in LendingClub during the 4th quarter valued at about $180,000. Finally, XTX Topco Ltd raised its position in LendingClub by 55.4% during the 3rd quarter. XTX Topco Ltd now owns 19,789 shares of the credit services provider's stock valued at $226,000 after purchasing an additional 7,054 shares during the last quarter. Institutional investors own 74.08% of the company's stock.

Insiders Place Their Bets

In other news, General Counsel Jordan Cheng sold 7,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was 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 of the company's stock, valued at approximately $1,244,508.30. This represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael P. Zeisser purchased 20,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was bought at an average cost of $12.88 per share, with a total value of $257,600.00. Following the transaction, the director now owns 148,018 shares in the company, valued at $1,906,471.84. The trade was a 15.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 58,000 shares of company stock worth $875,940. 3.31% of the stock is currently owned by company insiders.

LendingClub Stock Down 1.9 %

Shares of NYSE:LC traded down $0.23 during midday trading on Tuesday, reaching $12.24. The company's stock had a trading volume of 2,114,406 shares, compared to its average volume of 2,164,334. LendingClub Co. has a 12-month low of $7.48 and a 12-month high of $18.75. The firm has a market capitalization of $1.39 billion, a P/E ratio of 27.19 and a beta of 2.01. The firm has a 50 day moving average of $15.38 and a 200-day moving average of $13.92.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LC. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $17.00 price objective (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $16.00 price target (down previously from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, Piper Sandler restated an "overweight" rating and issued a $19.00 price objective (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, LendingClub presently has a consensus rating of "Moderate Buy" and an average target price of $16.38.

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.