Rhumbline Advisers Sells 1,199 Shares of LendingClub Co. (NYSE:LC)

Rhumbline Advisers decreased its stake in LendingClub Co. (NYSE:LC) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 172,492 shares of the credit services provider’s stock after selling 1,199 shares during the period. Rhumbline Advisers owned about 0.15% of LendingClub worth $2,793,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. FMR LLC raised its stake 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 during the last quarter. Vontobel Holding Ltd. bought a new position in shares of LendingClub during the fourth quarter valued at $166,000. Highland Capital Management LLC bought a new position in shares of LendingClub during the fourth quarter valued at $180,000. Entropy Technologies LP bought a new position in shares of LendingClub during the fourth quarter valued at $199,000. Finally, Princeton Capital Management LLC bought a new position in shares of LendingClub during the third quarter valued at $171,000. Institutional investors own 74.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on LC. Piper Sandler reissued 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. JPMorgan Chase & Co. reissued a “neutral” rating and set a $17.00 price target (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $16.00 price target (down from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. One research 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. According to MarketBeat.com, LendingClub currently has a consensus rating of “Moderate Buy” and an average target price of $16.38.

LendingClub Stock Performance

Shares of LC stock opened at $12.78 on Monday. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 28.40 and a beta of 2.00. LendingClub Co. has a 52 week low of $7.48 and a 52 week high of $18.75. The firm’s 50-day simple moving average is $15.04 and its two-hundred day simple moving average is $13.98.

Insiders Place Their Bets

In other news, General Counsel Jordan Cheng sold 7,000 shares of LendingClub 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 owns 88,263 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael P. Zeisser bought 20,000 shares of LendingClub stock in a transaction dated Monday, February 3rd. The stock was acquired at an average price of $12.88 per share, with a total value 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. This represents a 15.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 58,000 shares of company stock valued at $875,940. Company insiders own 3.31% of the company’s stock.

LendingClub Company 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.