Long Focus Capital Management LLC Sells 800,000 Shares of LendingClub Co. (NYSE:LC)

Long Focus Capital Management LLC lessened its position in shares of LendingClub Co. (NYSE:LC - Free Report) by 33.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,609,725 shares of the credit services provider's stock after selling 800,000 shares during the period. LendingClub accounts for 0.8% of Long Focus Capital Management LLC's investment portfolio, making the stock its 21st largest position. Long Focus Capital Management LLC owned about 1.43% of LendingClub worth $26,061,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC lifted its holdings in LendingClub by 32.1% during the third quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock valued at $67,000 after purchasing an additional 1,424 shares during the last quarter. Barclays PLC lifted its stake in shares of LendingClub by 206.6% during the 3rd 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 in the last quarter. Geode Capital Management LLC lifted its stake in shares of LendingClub by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider's stock valued at $29,265,000 after buying an additional 42,429 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in LendingClub by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider's stock worth $11,409,000 after buying an additional 45,307 shares during the period. Finally, Range Financial Group LLC purchased a new position in LendingClub in the 4th quarter valued at approximately $1,510,000. Institutional investors own 74.08% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on LC shares. Piper Sandler restated an "overweight" rating and set a $19.00 target price (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price objective on LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a report on Monday, March 10th. StockNews.com raised LendingClub from a "sell" rating to a "hold" rating in a report on Friday, April 4th. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $16.00 price target (down from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.00.

Insider Activity at LendingClub

In other news, General Counsel Jordan Cheng sold 7,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael P. Zeisser bought 20,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was purchased at an average price of $12.88 per share, with a total value of $257,600.00. Following the transaction, the director now directly owns 148,018 shares in the company, valued at $1,906,471.84. The trade was a 15.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 29,250 shares of company stock valued at $385,120 over the last three months. 3.31% of the stock is owned by corporate insiders.

LendingClub Stock Up 6.8 %

NYSE:LC opened at $9.88 on Wednesday. The stock has a market cap of $1.13 billion, a P/E ratio of 21.95 and a beta of 2.09. The business's 50-day moving average price is $10.95 and its two-hundred day moving average price is $13.67. LendingClub Co. has a twelve month low of $7.48 and a twelve month high of $18.75.

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.

Want to see what other hedge funds are holding LC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LendingClub Co. (NYSE:LC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.