Quantbot Technologies LP Has $2.32 Million Stock Holdings in LendingClub Co. (NYSE:LC)

Quantbot Technologies LP lessened its stake in LendingClub Co. (NYSE:LC) by 9.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 143,530 shares of the credit services provider’s stock after selling 15,233 shares during the quarter. Quantbot Technologies LP owned 0.13% of LendingClub worth $2,324,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Northwest & Ethical Investments L.P. acquired a new position in LendingClub in the 4th quarter valued at approximately $238,000. Teacher Retirement System of Texas increased its stake in shares of LendingClub by 29.2% during the 4th quarter. Teacher Retirement System of Texas now owns 176,434 shares of the credit services provider’s stock worth $2,856,000 after purchasing an additional 39,870 shares during the last quarter. Cibc World Markets Corp acquired a new position in shares of LendingClub during the 4th quarter worth $167,000. Picton Mahoney Asset Management acquired a new position in shares of LendingClub during the 4th quarter worth $9,788,000. Finally, Commonwealth Equity Services LLC increased its stake in shares of LendingClub by 2.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 27,248 shares of the credit services provider’s stock worth $441,000 after purchasing an additional 748 shares during the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

LendingClub Price Performance

Shares of LendingClub stock opened at $11.09 on Monday. The firm has a fifty day moving average price of $13.43 and a two-hundred day moving average price of $13.91. The company has a market cap of $1.26 billion, a PE ratio of 24.63 and a beta of 2.07. LendingClub Co. has a fifty-two week low of $7.48 and a fifty-two week high of $18.75.

Wall Street Analyst Weigh In

Several research analysts have recently commented on LC shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $16.00 price target (down previously from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. Piper Sandler restated an “overweight” rating and set a $19.00 price target (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. dropped their price target on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Insider Transactions at LendingClub

In other LendingClub news, General Counsel Jordan Cheng sold 7,000 shares of the business’s stock in a transaction dated 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 directly owns 88,263 shares of the company’s stock, valued at approximately $1,244,508.30. The trade was a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $13.76, for a total transaction of $233,920.00. Following the completion of the transaction, the chief executive officer now directly owns 1,295,184 shares of the company’s stock, valued at approximately $17,821,731.84. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,000 shares of company stock valued at $606,660. Company insiders own 3.31% of the company’s stock.

About LendingClub

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.