TT Capital Management LLC bought a new stake in shares of LendingClub Co. (NYSE:LC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 134,000 shares of the credit services provider's stock, valued at approximately $2,187,000. LendingClub accounts for about 1.7% of TT Capital Management LLC's portfolio, making the stock its 15th largest holding. TT Capital Management LLC owned about 0.12% of LendingClub at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP grew its position in shares of 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 purchasing an additional 148,685 shares in the last quarter. JPMorgan Chase & Co. grew its stake in LendingClub by 4.8% during the third 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 in the last quarter. Captrust Financial Advisors purchased a new position in shares of LendingClub during the 3rd quarter valued at $237,000. Victory Capital Management Inc. grew its position in LendingClub by 301.0% during the fourth quarter. Victory Capital Management Inc. now owns 54,687 shares of the credit services provider's stock worth $885,000 after buying an additional 41,048 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of LendingClub in the 4th quarter valued at about $1,696,000. Institutional investors own 74.08% of the company's stock.
LendingClub Stock Up 1.1 %
NYSE:LC traded up $0.11 during mid-day trading on Friday, hitting $9.49. 1,025,863 shares of the stock traded hands, compared to its average volume of 1,619,828. The firm's 50 day moving average is $11.17 and its two-hundred day moving average is $13.69. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 21.08 and a beta of 2.09. LendingClub Co. has a 52 week low of $7.48 and a 52 week high of $18.75.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on LC shares. StockNews.com upgraded shares of LendingClub from a "sell" rating to a "hold" rating in a research report on Friday, April 4th. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $16.00 target price (down previously from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target on LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a research report on Monday, March 10th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $19.00 price objective (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $16.00.
Check Out Our Latest Stock Analysis on LendingClub
Insiders Place Their Bets
In related news, CEO Scott Sanborn sold 5,250 shares of the firm's stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $10.00, for a total transaction of $52,500.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael P. Zeisser bought 20,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was bought at an average price of $12.88 per share, for a total transaction of $257,600.00. Following the purchase, the director now directly owns 148,018 shares of the company's stock, valued at approximately $1,906,471.84. The trade was a 15.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 29,250 shares of company stock worth $385,120. 3.31% of the stock is currently owned by company insiders.
About LendingClub
(
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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