Jump Financial LLC Trims Position in LendingClub Co. (NYSE:LC)

Jump Financial LLC trimmed its holdings in LendingClub Co. (NYSE:LC - Free Report) by 30.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,282 shares of the credit services provider's stock after selling 54,051 shares during the period. Jump Financial LLC owned 0.11% of LendingClub worth $2,045,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of LC. SBI Securities Co. Ltd. purchased a new position in shares of LendingClub during the 4th quarter worth $45,000. Sterling Capital Management LLC increased its position in 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 purchasing an additional 3,119 shares during the last quarter. National Bank of Canada FI raised its stake in 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 worth $66,000 after purchasing an additional 2,448 shares during the period. FMR LLC raised its stake in LendingClub by 32.1% during the third 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 during the period. Finally, Jones Financial Companies Lllp boosted its holdings 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 owned by hedge funds and other institutional investors.

Insider Activity at LendingClub

In other LendingClub news, Director Michael P. Zeisser acquired 20,000 shares of the stock in a transaction on 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 acquisition, the director now owns 148,018 shares of the company's stock, valued at $1,906,471.84. This trade represents a 15.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Jordan Cheng sold 7,000 shares of the business's stock in a transaction that occurred 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 in the company, valued at $1,244,508.30. The trade was a 7.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,250 shares of company stock worth $385,120 in the last three months. Insiders own 3.31% of the company's stock.

LendingClub Price Performance

Shares of LC stock traded up $0.38 during midday trading on Wednesday, hitting $10.25. The company had a trading volume of 942,995 shares, compared to its average volume of 1,617,469. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 22.78 and a beta of 2.09. The company's 50 day simple moving average is $10.95 and its 200 day simple moving average is $13.67. LendingClub Co. has a 52-week low of $7.48 and a 52-week high of $18.75.

Analysts Set New Price Targets

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

LendingClub Company 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.