Teacher Retirement System of Texas grew its position in LendingClub Co. (NYSE:LC - Free Report) by 29.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 176,434 shares of the credit services provider's stock after purchasing an additional 39,870 shares during the period. Teacher Retirement System of Texas owned about 0.16% of LendingClub worth $2,856,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cibc World Markets Corp acquired a new stake in shares of LendingClub during the fourth quarter worth about $167,000. Picton Mahoney Asset Management acquired a new stake in LendingClub during the 4th quarter worth approximately $9,788,000. Commonwealth Equity Services LLC raised its holdings in LendingClub by 2.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 27,248 shares of the credit services provider's stock worth $441,000 after buying an additional 748 shares during the period. Swiss National Bank lifted its stake in LendingClub by 1.7% in the fourth quarter. Swiss National Bank now owns 219,960 shares of the credit services provider's stock valued at $3,561,000 after buying an additional 3,600 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of LendingClub by 1,227.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,110 shares of the credit services provider's stock valued at $6,138,000 after buying an additional 350,548 shares during the period. 74.08% of the stock is owned by institutional investors.
LendingClub Price Performance
NYSE LC traded down $0.45 during trading on Friday, reaching $10.40. 1,032,854 shares of the company's stock were exchanged, compared to its average volume of 1,611,491. LendingClub Co. has a fifty-two week low of $7.48 and a fifty-two week high of $18.75. The business has a 50 day moving average price of $12.95 and a 200-day moving average price of $13.89. The stock has a market capitalization of $1.18 billion, a P/E ratio of 23.12 and a beta of 2.07.
Insider Buying and Selling at LendingClub
In related news, General Counsel Jordan Cheng sold 7,000 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total value of $274,040.00. Following the completion of the transaction, the chief executive officer now directly owns 1,312,184 shares of the company's stock, valued at $21,152,406.08. This represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,000 shares of company stock valued at $606,660 in the last quarter. 3.31% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $16.00 price objective (down from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price target on LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a report on Monday, March 10th. Finally, Piper Sandler reiterated an "overweight" rating and set a $19.00 price objective (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. One 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $16.00.
Check Out Our Latest Stock Report on LendingClub
LendingClub Company Profile
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Free Report)
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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