Victory Capital Management Inc. Acquires 41,048 Shares of LendingClub Co. (NYSE:LC)

Victory Capital Management Inc. lifted its position in shares of LendingClub Co. (NYSE:LC - Free Report) by 301.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,687 shares of the credit services provider's stock after purchasing an additional 41,048 shares during the period. Victory Capital Management Inc.'s holdings in LendingClub were worth $885,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in LC. SBI Securities Co. Ltd. acquired a new stake in LendingClub in the fourth quarter valued at about $45,000. FMR LLC boosted its holdings in LendingClub by 32.1% in the third quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock valued at $67,000 after acquiring an additional 1,424 shares during the last quarter. Jones Financial Companies Lllp lifted its position in LendingClub by 49.2% during the fourth quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock valued at $97,000 after buying an additional 1,975 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in LendingClub in the 4th quarter valued at $164,000. Finally, Vontobel Holding Ltd. acquired a new position in LendingClub during the 4th quarter worth approximately $166,000. 74.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity at LendingClub

In other news, General Counsel Jordan Cheng sold 7,000 shares of the business'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 sale, the general counsel now directly owns 88,263 shares in the company, valued at approximately $1,244,508.30. The trade was a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total transaction of $274,040.00. Following the transaction, the chief executive officer now directly owns 1,312,184 shares of the company's stock, valued at approximately $21,152,406.08. This represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,000 shares of company stock valued at $606,660. 3.31% of the stock is owned by corporate insiders.

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LendingClub Stock Performance

Shares of LC stock traded up $0.58 during trading on Monday, hitting $11.66. 883,990 shares of the company were exchanged, compared to its average volume of 1,566,007. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 25.92 and a beta of 2.07. The business's 50-day simple moving average is $13.43 and its 200 day simple moving average is $13.91. LendingClub Co. has a twelve month low of $7.48 and a twelve month high of $18.75.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a report on Monday, March 10th. Keefe, Bruyette & Woods reiterated 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. Finally, Piper Sandler restated an "overweight" rating and set a $19.00 price objective (down previously from $20.00) 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 given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, LendingClub has an average rating of "Moderate Buy" and an average target price 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.