ExodusPoint Capital Management LP Takes Position in LendingClub Co. (NYSE:LC)

ExodusPoint Capital Management LP acquired a new stake in shares of LendingClub Co. (NYSE:LC - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 101,104 shares of the credit services provider's stock, valued at approximately $1,637,000. ExodusPoint Capital Management LP owned approximately 0.09% of LendingClub at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of LendingClub by 2.2% in the 3rd quarter. State Street Corp now owns 3,896,816 shares of the credit services provider's stock worth $44,541,000 after buying an additional 82,315 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of LendingClub by 353.1% in the fourth quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider's stock valued at $61,515,000 after buying an additional 2,961,050 shares during the period. Geode Capital Management LLC boosted its position in LendingClub by 1.7% during the third quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider's stock worth $29,265,000 after purchasing an additional 42,429 shares during the period. American Century Companies Inc. lifted its stake in shares of LendingClub by 9.3% during the 4th quarter. American Century Companies Inc. now owns 1,895,699 shares of the credit services provider's stock valued at $30,691,000 after buying an additional 160,916 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in LendingClub by 158.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,522,360 shares of the credit services provider's stock valued at $24,647,000 after buying an additional 933,680 shares in the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity 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 value of $98,700.00. Following the completion of the transaction, the general counsel now 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 filing with the SEC, which is accessible through this link. Also, Director Michael P. Zeisser purchased 20,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were purchased at an average price 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 $1,906,471.84. This 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 worth $385,120. 3.31% of the stock is owned by insiders.

LendingClub Stock Performance

Shares of LC stock traded up $0.17 during mid-day trading on Monday, hitting $9.37. The company's stock had a trading volume of 121,440 shares, compared to its average volume of 1,617,823. LendingClub Co. has a 52-week low of $7.48 and a 52-week high of $18.75. The business has a 50-day moving average price of $11.50 and a 200 day moving average price of $13.78. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 20.82 and a beta of 2.09.

Analysts Set New Price Targets

LC has been the subject of several research analyst reports. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $16.00 target price (down from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. Piper Sandler restated 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. JPMorgan Chase & Co. cut their target price on LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. Finally, StockNews.com raised shares of 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 given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.