New York State Common Retirement Fund Grows Stake in LendingClub Co. (NYSE:LC)

New York State Common Retirement Fund grew its position in LendingClub Co. (NYSE:LC) by 7.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,316 shares of the credit services provider’s stock after buying an additional 2,000 shares during the quarter. New York State Common Retirement Fund’s holdings in LendingClub were worth $475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in LC. Point72 Asset Management L.P. lifted its holdings in LendingClub by 98.1% during the third quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider’s stock worth $17,686,000 after buying an additional 766,287 shares during the period. SG Americas Securities LLC lifted its stake in shares of LendingClub by 699.5% during the 4th quarter. SG Americas Securities LLC now owns 318,745 shares of the credit services provider’s stock worth $5,160,000 after purchasing an additional 278,879 shares during the last quarter. Algert Global LLC boosted its position in LendingClub by 109.9% during the third quarter. Algert Global LLC now owns 307,133 shares of the credit services provider’s stock valued at $3,511,000 after purchasing an additional 160,828 shares in the last quarter. Barclays PLC grew its stake in LendingClub by 206.6% in the third quarter. Barclays PLC now owns 225,902 shares of the credit services provider’s stock valued at $2,582,000 after purchasing an additional 152,224 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings 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 worth $9,584,000 after purchasing an additional 148,685 shares in the last quarter. Institutional investors own 74.08% of the company’s stock.

Wall Street Analysts Forecast Growth

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

LendingClub Trading Down 3.8 %

NYSE:LC opened at $11.74 on Wednesday. The firm has a fifty day simple moving average of $14.86 and a 200-day simple moving average of $13.99. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $18.75. The company has a market capitalization of $1.33 billion, a P/E ratio of 26.08 and a beta of 2.00.

Insider Buying and Selling at LendingClub

In other LendingClub news, Director Michael P. Zeisser bought 20,000 shares of LendingClub stock in a transaction that occurred on Monday, February 3rd. The stock was purchased at an average price of $12.88 per share, with a total value of $257,600.00. Following the completion of the acquisition, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total transaction of $274,040.00. Following the completion of the sale, the chief executive officer now directly owns 1,312,184 shares in the company, valued at approximately $21,152,406.08. The trade was a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,000 shares of company stock worth $875,940. 3.31% of the stock is currently 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.