Inceptionr LLC Takes Position in LendingClub Co. (NYSE:LC)

Inceptionr LLC acquired a new position in shares of LendingClub Co. (NYSE:LC - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 26,009 shares of the credit services provider's stock, valued at approximately $421,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Mesirow Financial Investment Management Inc. bought a new position in shares of LendingClub during the third quarter worth about $236,000. GSA Capital Partners LLP grew its position in LendingClub by 47.3% in the 3rd quarter. GSA Capital Partners LLP now owns 214,192 shares of the credit services provider's stock worth $2,448,000 after purchasing an additional 68,791 shares during the last quarter. Aigen Investment Management LP increased its stake in shares of LendingClub by 18.5% in the third quarter. Aigen Investment Management LP now owns 31,542 shares of the credit services provider's stock valued at $361,000 after purchasing an additional 4,917 shares during the period. Quest Partners LLC raised its holdings in shares of LendingClub by 196.0% during the third quarter. Quest Partners LLC now owns 141,214 shares of the credit services provider's stock valued at $1,614,000 after buying an additional 93,506 shares during the last quarter. Finally, Princeton Capital Management LLC acquired a new position in shares of LendingClub during the third quarter worth approximately $171,000. 74.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Piper Sandler reiterated an "overweight" rating and set a $19.00 price target (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased 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. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $16.00 price target (down from $17.00) on shares of LendingClub in a research note 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 stock. According to data from MarketBeat.com, LendingClub currently has a consensus rating of "Moderate Buy" and an average target price of $16.00.

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Insider Activity at LendingClub

In other LendingClub news, General Counsel Jordan Cheng sold 7,000 shares of the company's 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael P. Zeisser acquired 20,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were bought at an average price of $12.88 per share, with a total value of $257,600.00. Following the transaction, the director now directly owns 148,018 shares in the company, valued at approximately $1,906,471.84. The trade was a 15.62 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 41,000 shares of company stock valued at $606,660 over the last ninety days. Insiders own 3.31% of the company's stock.

LendingClub Stock Performance

Shares of NYSE:LC traded up $0.37 during trading hours on Wednesday, hitting $10.75. 2,037,730 shares of the company's stock traded hands, compared to its average volume of 2,101,781. The company's fifty day simple moving average is $14.30 and its two-hundred day simple moving average is $13.97. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 23.88 and a beta of 2.07. LendingClub Co. has a 52 week low of $7.48 and a 52 week high of $18.75.

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.