Cibc World Markets Corp Purchases Shares of 10,343 LendingClub Co. (NYSE:LC)

Cibc World Markets Corp acquired a new stake in LendingClub Co. (NYSE:LC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,343 shares of the credit services provider’s stock, valued at approximately $167,000.

Several other hedge funds have also modified their holdings of the stock. Wellington Management Group LLP increased its position in shares of LendingClub by 21.6% in 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 purchasing an additional 148,685 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of LendingClub by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider’s stock worth $11,409,000 after purchasing an additional 45,307 shares in the last quarter. Captrust Financial Advisors purchased a new position in LendingClub in the third quarter valued at $237,000. Quantbot Technologies LP raised its stake in LendingClub by 153.2% in the third 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 in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in LendingClub by 301.0% during the 4th quarter. Victory Capital Management Inc. now owns 54,687 shares of the credit services provider’s stock worth $885,000 after buying an additional 41,048 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

LendingClub Price Performance

Shares of NYSE:LC opened at $11.21 on Thursday. LendingClub Co. has a 1-year low of $7.48 and a 1-year high of $18.75. The stock has a market cap of $1.27 billion, a P/E ratio of 24.90 and a beta of 2.07. The firm has a fifty day moving average price of $13.19 and a 200 day moving average price of $13.89.

Insider Activity

In other LendingClub news, 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 transaction, the chief executive officer now owns 1,312,184 shares in the company, valued at approximately $21,152,406.08. This represents a 1.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Jordan Cheng sold 7,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction of $98,700.00. Following the transaction, the general counsel now directly owns 88,263 shares of the company’s stock, valued at $1,244,508.30. This represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,000 shares of company stock valued at $606,660. Insiders own 3.31% of the company’s stock.

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.