Picton Mahoney Asset Management Makes New $9.79 Million Investment in LendingClub Co. (NYSE:LC)

Picton Mahoney Asset Management bought a new stake in shares of LendingClub Co. (NYSE:LC - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 604,534 shares of the credit services provider's stock, valued at approximately $9,788,000. Picton Mahoney Asset Management owned about 0.54% of LendingClub at the end of the most recent quarter.

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

LendingClub Price Performance

Shares of NYSE LC traded up $0.35 during midday trading on Wednesday, reaching $11.10. 822,655 shares of the company traded hands, compared to its average volume of 1,564,078. LendingClub Co. has a 52 week low of $7.48 and a 52 week high of $18.75. The stock has a 50-day moving average price of $13.71 and a 200 day moving average price of $13.92. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 24.68 and a beta of 2.07.

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Insider Activity at LendingClub

In other LendingClub news, Director Michael P. Zeisser purchased 20,000 shares of the company's stock in a transaction on Monday, February 3rd. The shares were purchased at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the completion of the transaction, the director now 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Jordan Cheng sold 7,000 shares of the business's 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 completion of the sale, the general counsel now owns 88,263 shares in the company, valued at approximately $1,244,508.30. This trade represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,000 shares of company stock worth $606,660 over the last ninety days. 3.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Piper Sandler reissued an "overweight" rating and set a $19.00 price target (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $16.00 price target (down previously from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reduced their price target on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.