Inceptionr LLC Acquires Shares of 26,009 LendingClub Co. (NYSE:LC)

by · The Markets Daily

Inceptionr LLC acquired a new stake in LendingClub Co. (NYSE:LC – Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 26,009 shares of the credit services provider’s stock, valued at approximately $421,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its holdings in shares of LendingClub by 32.1% during 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 in the last quarter. Jones Financial Companies Lllp raised its holdings 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 valued at $97,000 after acquiring an additional 1,975 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of LendingClub by 7.3% during the fourth quarter. New York State Common Retirement Fund now owns 29,316 shares of the credit services provider’s stock valued at $475,000 after acquiring an additional 2,000 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of LendingClub during the fourth quarter valued at approximately $45,000. Finally, Aigen Investment Management LP raised its holdings in shares of LendingClub by 18.5% during the third quarter. Aigen Investment Management LP now owns 31,542 shares of the credit services provider’s stock valued at $361,000 after acquiring an additional 4,917 shares in the last quarter. Institutional investors own 74.08% of the company’s stock.

LendingClub Trading Down 1.6 %

NYSE LC opened at $11.22 on Friday. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $18.75. The stock has a market cap of $1.27 billion, a P/E ratio of 24.92 and a beta of 2.07. The stock’s fifty day moving average price is $14.54 and its 200-day moving average price is $13.98.

Insider Transactions at LendingClub

In related news, General Counsel Jordan Cheng sold 7,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction of $98,700.00. Following the sale, the general counsel now directly owns 88,263 shares of the company’s stock, valued at $1,244,508.30. This trade represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $13.76, for a total value of $233,920.00. Following the sale, the chief executive officer now directly owns 1,295,184 shares in the company, valued at $17,821,731.84. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,000 shares of company stock valued at $606,660. Insiders own 3.31% of the company’s stock.

Analyst Upgrades and Downgrades

LC has been the subject of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and set a $19.00 target price (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. JPMorgan Chase & Co. restated a “neutral” rating and set a $17.00 target price (up previously from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $16.00 target price (down previously from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.38.

View Our Latest Stock Report on LC

LendingClub Company Profile

(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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