Quinn Opportunity Partners LLC Sells 202,900 Shares of LendingClub Co. (NYSE:LC)

Quinn Opportunity Partners LLC decreased its holdings in shares of LendingClub Co. (NYSE:LC - Free Report) by 36.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 356,627 shares of the credit services provider's stock after selling 202,900 shares during the period. Quinn Opportunity Partners LLC owned approximately 0.32% of LendingClub worth $5,774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC lifted its position 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 valued at $67,000 after acquiring an additional 1,424 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of LendingClub in the 3rd quarter valued at approximately $237,000. Janus Henderson Group PLC grew its position in LendingClub by 42.7% during the 3rd quarter. Janus Henderson Group PLC now owns 59,995 shares of the credit services provider's stock worth $685,000 after purchasing an additional 17,966 shares in the last quarter. State Street Corp lifted its holdings in shares of LendingClub by 2.2% in the third 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 in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of LendingClub by 21.6% in the third quarter. Wellington Management Group LLP now owns 838,535 shares of the credit services provider's stock worth $9,584,000 after buying an additional 148,685 shares during the period. 74.08% of the stock is currently owned by institutional investors.

LendingClub Stock Down 1.9 %

LC stock traded down $0.18 during mid-day trading on Wednesday, reaching $9.27. 271,540 shares of the stock traded hands, compared to its average volume of 1,792,005. The firm has a market capitalization of $1.05 billion, a PE ratio of 20.60 and a beta of 2.09. The business has a 50-day moving average of $11.33 and a two-hundred day moving average of $13.73. LendingClub Co. has a 52 week low of $7.48 and a 52 week high of $18.75.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Piper Sandler restated 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. JPMorgan Chase & Co. decreased their target price on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $16.00 price objective (down from $17.00) on shares of LendingClub in a 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 investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, LendingClub has a consensus rating of "Moderate Buy" and a consensus target price of $16.00.

Insider Transactions at LendingClub

In other news, CEO Scott Sanborn sold 5,250 shares of the firm's stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $10.00, for a total transaction of $52,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,303,032 shares of the company's stock, valued at approximately $13,030,320. This trade represents a 0.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael P. Zeisser bought 20,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was acquired at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the purchase, 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 disclosure for this purchase can be found here. Insiders sold a total of 29,250 shares of company stock worth $385,120 over the last three months. 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.