Trexquant Investment LP Sells 44,915 Shares of LendingClub Co. (NYSE:LC)

Trexquant Investment LP cut its position in LendingClub Co. (NYSE:LC - Free Report) by 10.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 391,960 shares of the credit services provider's stock after selling 44,915 shares during the quarter. Trexquant Investment LP owned approximately 0.35% of LendingClub worth $6,346,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in LC. SBI Securities Co. Ltd. acquired a new position in LendingClub during the fourth quarter worth $45,000. National Bank of Canada FI lifted its position in LendingClub by 150.6% during the 4th quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider's stock valued at $66,000 after purchasing an additional 2,448 shares during the period. FMR LLC boosted its stake in LendingClub by 32.1% in the third quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock valued at $67,000 after acquiring an additional 1,424 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of 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 period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of LendingClub in the 4th quarter valued at approximately $164,000. Institutional investors and hedge funds own 74.08% of the company's stock.

Insider Buying and Selling at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $13.76, for a total transaction of $233,920.00. Following the sale, the chief executive officer now directly owns 1,295,184 shares in the company, valued at approximately $17,821,731.84. This represents a 1.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Jordan Cheng sold 7,000 shares of LendingClub stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total value of $98,700.00. Following the completion of the transaction, the general counsel now owns 88,263 shares of the company's stock, 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. Corporate insiders own 3.31% of the company's stock.

Analyst Ratings Changes

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

LendingClub Trading Down 9.7 %

Shares of NYSE:LC traded down $0.96 during mid-day trading on Thursday, hitting $8.97. 312,718 shares of the company traded hands, compared to its average volume of 1,614,731. The stock has a market cap of $1.02 billion, a P/E ratio of 19.92 and a beta of 2.09. The stock has a 50-day moving average price of $11.65 and a two-hundred day moving average price of $13.78. LendingClub Co. has a 12-month low of $7.48 and a 12-month high of $18.75.

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.