American Century Companies Inc. Increases Stock Holdings in LendingClub Co. (NYSE:LC)

American Century Companies Inc. raised its holdings in LendingClub Co. (NYSE:LC - Free Report) by 9.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,895,699 shares of the credit services provider's stock after buying an additional 160,916 shares during the quarter. American Century Companies Inc. owned 1.69% of LendingClub worth $30,691,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Asset Management L.P. raised its holdings in shares of LendingClub by 98.1% during the third quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider's stock valued at $17,686,000 after purchasing an additional 766,287 shares during the period. Picton Mahoney Asset Management bought a new position in shares of LendingClub in the 4th quarter worth $9,788,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in LendingClub by 1,227.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,110 shares of the credit services provider's stock valued at $6,138,000 after purchasing an additional 350,548 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of LendingClub by 699.5% in the fourth quarter. SG Americas Securities LLC now owns 318,745 shares of the credit services provider's stock valued at $5,160,000 after buying an additional 278,879 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of LendingClub by 206.6% during the third quarter. Barclays PLC now owns 225,902 shares of the credit services provider's stock valued at $2,582,000 after buying an additional 152,224 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors.

Remove Ads

LendingClub Trading Up 0.6 %

Shares of LC traded up $0.06 during mid-day trading on Tuesday, reaching $10.38. 596,127 shares of the stock traded hands, compared to its average volume of 1,606,085. LendingClub Co. has a 1 year low of $7.48 and a 1 year high of $18.75. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 23.18 and a beta of 2.07. The firm has a fifty day moving average price of $12.82 and a 200 day moving average price of $13.92.

Insider Activity at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total value of $274,040.00. Following the completion of the transaction, the chief executive officer now directly owns 1,312,184 shares in the company, valued at approximately $21,152,406.08. This represents a 1.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Jordan Cheng sold 7,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total value of $98,700.00. Following the transaction, the general counsel now directly owns 88,263 shares in the company, valued at approximately $1,244,508.30. This represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,000 shares of company stock valued at $606,660 over the last three months. 3.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on LC. Piper Sandler reaffirmed an "overweight" rating and issued a $19.00 price target (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $16.00 price target (down from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reduced 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.