Thoroughbred Financial Services LLC Takes Position in LendingClub Co. (NYSE:LC)

Thoroughbred Financial Services LLC acquired a new stake in LendingClub Co. (NYSE:LC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,815 shares of the credit services provider's stock, valued at approximately $774,000.

Several other large investors have also bought and sold shares of LC. Wellington Management Group LLP lifted its stake in LendingClub by 21.6% in the third quarter. Wellington Management Group LLP now owns 838,535 shares of the credit services provider's stock valued at $9,584,000 after buying an additional 148,685 shares during the period. JPMorgan Chase & Co. lifted its position in shares of LendingClub by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider's stock valued at $11,409,000 after acquiring an additional 45,307 shares during the period. Captrust Financial Advisors bought a new position in LendingClub during the third quarter worth $237,000. Raymond James Financial Inc. acquired a new stake in LendingClub in the fourth quarter worth $1,696,000. Finally, Victory Capital Management Inc. increased its stake in LendingClub by 301.0% in the fourth quarter. Victory Capital Management Inc. now owns 54,687 shares of the credit services provider's stock valued at $885,000 after purchasing an additional 41,048 shares in the last quarter. 74.08% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Michael P. Zeisser bought 20,000 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was purchased at an average cost of $12.88 per share, with a total value of $257,600.00. Following the transaction, the director now owns 148,018 shares in the company, valued at approximately $1,906,471.84. This trade represents a 15.62 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Sanborn sold 5,250 shares of the firm's stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $10.00, for a total transaction of $52,500.00. Following the completion of the sale, the chief executive officer now owns 1,303,032 shares of the company's stock, valued at $13,030,320. This trade represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,250 shares of company stock valued at $385,120 over the last three months. 3.31% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

LendingClub Stock Performance

Shares of LC stock traded down $0.03 on Friday, hitting $9.20. 847,846 shares of the company's stock traded hands, compared to its average volume of 1,620,128. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 20.43 and a beta of 2.09. The company's fifty day simple moving average is $11.50 and its 200 day simple moving average is $13.76. LendingClub Co. has a one year low of $7.48 and a one year 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.