Cibc World Markets Corp Acquires New Position in LendingClub Co. (NYSE:LC)

Cibc World Markets Corp bought a new position in shares of LendingClub Co. (NYSE:LC) during the 4th quarter, Holdings Channel reports. The firm bought 10,343 shares of the credit services provider’s stock, valued at approximately $167,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new stake in shares of LendingClub in the 4th quarter worth about $45,000. FMR LLC increased its stake in shares of LendingClub by 32.1% during 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. Jones Financial Companies Lllp increased its stake in shares of LendingClub by 49.2% during the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock worth $97,000 after purchasing an additional 1,975 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of LendingClub during the 4th quarter worth approximately $164,000. Finally, Vontobel Holding Ltd. acquired a new stake in LendingClub during the 4th quarter valued at $166,000. 74.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at LendingClub

In other news, General Counsel Jordan Cheng sold 7,000 shares of the stock in a transaction on 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 sale, the general counsel now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael P. Zeisser bought 20,000 shares of LendingClub stock in a transaction that occurred on Monday, February 3rd. The shares were acquired at an average price of $12.88 per share, for a total transaction 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 represents a 15.62 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 41,000 shares of company stock worth $606,660 in the last ninety days. Insiders own 3.31% of the company’s stock.

Wall Street Analysts Forecast Growth

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

LendingClub Stock Performance

Shares of LC stock opened at $11.21 on Thursday. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 24.90 and a beta of 2.07. The company has a 50 day moving average price of $13.19 and a 200 day moving average price of $13.89. LendingClub Co. has a one year low of $7.48 and a one year high of $18.75.

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.