Empowered Funds LLC Cuts Stake in LendingClub Co. (NYSE:LC)

Empowered Funds LLC decreased its holdings in LendingClub Co. (NYSE:LC) by 71.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,552 shares of the credit services provider’s stock after selling 37,005 shares during the period. Empowered Funds LLC’s holdings in LendingClub were worth $236,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP boosted its position in LendingClub by 21.6% during the 3rd 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. boosted its position in 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 buying an additional 45,307 shares during the period. Captrust Financial Advisors purchased a new stake in LendingClub during the 3rd quarter valued at $237,000. GSA Capital Partners LLP boosted its position in LendingClub by 47.3% during the 3rd quarter. GSA Capital Partners LLP now owns 214,192 shares of the credit services provider’s stock valued at $2,448,000 after buying an additional 68,791 shares during the period. Finally, Quantbot Technologies LP boosted its position in LendingClub by 153.2% during the 3rd quarter. Quantbot Technologies LP now owns 158,763 shares of the credit services provider’s stock valued at $1,815,000 after buying an additional 96,053 shares during the period. Hedge funds and other institutional investors own 74.08% of the company’s stock.

LendingClub Stock Performance

Shares of LC stock opened at $13.02 on Friday. LendingClub Co. has a one year low of $7.48 and a one year high of $18.75. The company’s 50-day moving average is $15.56 and its 200 day moving average is $13.83. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 28.92 and a beta of 2.00.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Compass Point upped their price objective on shares of LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Maxim Group upped their price objective on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $17.00 price objective (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $16.00 price objective (down from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, LendingClub has an average rating of “Moderate Buy” and a consensus price target of $16.38.

Insider Activity at LendingClub

In other news, General Counsel Jordan Cheng sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total transaction of $98,700.00. Following the sale, the general counsel now owns 88,263 shares of the company’s stock, valued at $1,244,508.30. This trade represents a 7.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael P. Zeisser purchased 20,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were bought at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the acquisition, the director now owns 148,018 shares in the company, 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 have sold 58,000 shares of company stock valued at $875,940. 3.31% of the stock is owned by insiders.

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.