Oppenheimer Asset Management Inc. Buys New Holdings in LendingClub Co. (NYSE:LC)

Oppenheimer Asset Management Inc. bought a new stake in LendingClub Co. (NYSE:LC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 29,026 shares of the credit services provider's stock, valued at approximately $470,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LC. Creative Planning boosted its holdings in LendingClub by 20.3% in the third quarter. Creative Planning now owns 33,695 shares of the credit services provider's stock valued at $385,000 after acquiring an additional 5,695 shares during the last quarter. Mesirow Financial Investment Management Inc. purchased a new position in LendingClub in the third quarter valued at about $236,000. GSA Capital Partners LLP raised its position in LendingClub by 47.3% in the third quarter. GSA Capital Partners LLP now owns 214,192 shares of the credit services provider's stock valued at $2,448,000 after purchasing an additional 68,791 shares during the period. Aigen Investment Management LP raised its position in LendingClub by 18.5% in the third quarter. Aigen Investment Management LP now owns 31,542 shares of the credit services provider's stock valued at $361,000 after purchasing an additional 4,917 shares during the period. Finally, Quest Partners LLC raised its position in LendingClub by 196.0% in the third quarter. Quest Partners LLC now owns 141,214 shares of the credit services provider's stock valued at $1,614,000 after purchasing an additional 93,506 shares during the period. Institutional investors and hedge funds own 74.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LC. Piper Sandler reaffirmed an "overweight" rating and set a $19.00 target price (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $17.00 price target (up from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and issued a $16.00 target price (down from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $16.38.

Insider Transactions at LendingClub

In other LendingClub news, Director Michael P. Zeisser bought 20,000 shares of the stock in a transaction on Monday, February 3rd. The shares were purchased at an average cost of $12.88 per share, with a total value of $257,600.00. Following the completion of the transaction, the director now directly owns 148,018 shares of the company's stock, valued at $1,906,471.84. This represents a 15.62 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Jordan Cheng sold 7,000 shares of the stock in a transaction on 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 $1,244,508.30. The trade was a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,000 shares of company stock valued at $606,660. 3.31% of the stock is owned by insiders.

LendingClub Trading Up 1.2 %

NYSE LC opened at $11.86 on Thursday. LendingClub Co. has a 1-year low of $7.48 and a 1-year high of $18.75. The company has a market capitalization of $1.34 billion, a PE ratio of 26.35 and a beta of 2.00. The firm's fifty day simple moving average is $14.77 and its 200-day simple moving average is $13.97.

LendingClub 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.

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