Jones Financial Companies Lllp Acquires 1,975 Shares of LendingClub Co. (NYSE:LC)

Jones Financial Companies Lllp lifted its holdings in shares of LendingClub Co. (NYSE:LC) by 49.2% in the 4th quarter, HoldingsChannel reports. The fund owned 5,986 shares of the credit services provider’s stock after purchasing an additional 1,975 shares during the period. Jones Financial Companies Lllp’s holdings in LendingClub were worth $97,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC grew its position in LendingClub by 32.1% in the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after purchasing an additional 1,424 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in LendingClub in the 4th quarter worth about $164,000. Vontobel Holding Ltd. bought a new stake in LendingClub in the 4th quarter worth about $166,000. Princeton Capital Management LLC bought a new stake in LendingClub in the 3rd quarter worth about $171,000. Finally, Highland Capital Management LLC bought a new stake in LendingClub in the 4th quarter worth about $180,000. 74.08% of the stock is owned by institutional investors.

LendingClub Trading Up 4.6 %

LC opened at $10.89 on Monday. The company has a 50 day moving average of $13.95 and a 200 day moving average of $13.94. The company has a market cap of $1.23 billion, a PE ratio of 24.19 and a beta of 2.07. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $18.75.

Insider Buying and Selling

In other news, Director Michael P. Zeisser purchased 20,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was purchased at an average cost of $12.88 per share, with a total value of $257,600.00. Following 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Jordan Cheng sold 7,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 41,000 shares of company stock valued at $606,660. Company insiders own 3.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and set a $19.00 target price (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their target price 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, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $16.00 target price (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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

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.