Harspring Capital Management LLC decreased its position in shares of LendingClub Co. (NYSE:LC - Free Report) by 8.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,060,000 shares of the credit services provider's stock after selling 100,000 shares during the quarter. LendingClub accounts for approximately 4.9% of Harspring Capital Management LLC's investment portfolio, making the stock its 9th largest holding. Harspring Capital Management LLC owned 0.94% of LendingClub worth $17,161,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in LendingClub in the 4th quarter valued at $45,000. Sterling Capital Management LLC lifted its stake 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 worth $57,000 after buying an additional 3,119 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of LendingClub by 150.6% in 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 purchasing an additional 2,448 shares during the last quarter. FMR LLC raised its holdings in shares of 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 acquiring an additional 1,424 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in shares of LendingClub by 49.2% during the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock worth $97,000 after buying an additional 1,975 shares during the last quarter. 74.08% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on LC shares. JPMorgan Chase & Co. lowered their price objective on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research report on Monday, March 10th. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $16.00 price target (down previously from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. Piper Sandler reissued an "overweight" rating and set a $19.00 price objective (down from $20.00) on shares of LendingClub in a research report 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $16.00.
Read Our Latest Report on LC
LendingClub Trading Up 1.1 %
Shares of LendingClub stock traded up $0.11 on Friday, hitting $9.49. The stock had a trading volume of 1,025,863 shares, compared to its average volume of 1,621,654. The company's 50 day moving average price is $11.10 and its 200 day moving average price is $13.70. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 21.08 and a beta of 2.09. LendingClub Co. has a 52-week low of $7.48 and a 52-week high of $18.75.
Insider Activity at LendingClub
In related news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $13.76, for a total value of $233,920.00. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael P. Zeisser purchased 20,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were purchased at an average price of $12.88 per share, for a total transaction of $257,600.00. Following the completion of the purchase, the director now owns 148,018 shares of the company's stock, valued at approximately $1,906,471.84. This trade represents a 15.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 29,250 shares of company stock worth $385,120 in the last 90 days. 3.31% of the stock is owned by insiders.
LendingClub Company Profile
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Free Report)
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.
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