Senvest Management LLC Acquires 50,000 Shares of LendingClub Co. (NYSE:LC)

Senvest Management LLC increased its holdings in LendingClub Co. (NYSE:LC - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,529,587 shares of the credit services provider's stock after purchasing an additional 50,000 shares during the quarter. Senvest Management LLC owned 1.36% of LendingClub worth $24,764,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. State Street Corp raised its position in LendingClub by 2.2% during the 3rd quarter. State Street Corp now owns 3,896,816 shares of the credit services provider's stock valued at $44,541,000 after purchasing an additional 82,315 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of LendingClub by 353.1% during the fourth quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider's stock valued at $61,515,000 after acquiring an additional 2,961,050 shares in the last quarter. Geode Capital Management LLC lifted its stake in LendingClub by 1.7% in the third quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider's stock worth $29,265,000 after acquiring an additional 42,429 shares during the period. American Century Companies Inc. boosted its holdings in LendingClub by 9.3% in the fourth quarter. American Century Companies Inc. now owns 1,895,699 shares of the credit services provider's stock valued at $30,691,000 after acquiring an additional 160,916 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in LendingClub by 158.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,522,360 shares of the credit services provider's stock valued at $24,647,000 after purchasing an additional 933,680 shares during the period. 74.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on LC shares. JPMorgan Chase & Co. dropped 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, March 10th. StockNews.com raised LendingClub from a "sell" rating to a "hold" rating in a research report on Friday, April 4th. Piper Sandler reissued an "overweight" rating and issued a $19.00 target price (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods restated 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. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $16.00.

LendingClub Price Performance

LendingClub stock traded up $0.11 during mid-day trading on Friday, reaching $9.49. The stock had a trading volume of 1,025,863 shares, compared to its average volume of 1,620,528. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 21.08 and a beta of 2.09. LendingClub Co. has a one year low of $7.48 and a one year high of $18.75. The company has a 50-day moving average price of $11.10 and a two-hundred day moving average price of $13.68.

Insider Activity

In other news, General Counsel Jordan Cheng sold 7,000 shares of LendingClub stock in a transaction that occurred 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 $1,244,508.30. The trade was a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Scott Sanborn sold 17,000 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $13.76, for a total transaction of $233,920.00. Following the completion of the sale, the chief executive officer now owns 1,295,184 shares in the company, valued at $17,821,731.84. This represents a 1.30 % 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 over the last 90 days. 3.31% of the stock is currently owned by insiders.

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.