Legacy Capital Group California Inc. Has $1.70 Million Stock Position in LendingClub Co. (NYSE:LC)

Legacy Capital Group California Inc. reduced its holdings in shares of LendingClub Co. (NYSE:LC) by 1.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 104,783 shares of the credit services provider’s stock after selling 1,648 shares during the period. Legacy Capital Group California Inc.’s holdings in LendingClub were worth $1,696,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. New York State Common Retirement Fund boosted its position in LendingClub by 7.3% in the fourth quarter. New York State Common Retirement Fund now owns 29,316 shares of the credit services provider’s stock valued at $475,000 after buying an additional 2,000 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of LendingClub in the 4th quarter valued at $164,000. Vontobel Holding Ltd. acquired a new stake in shares of LendingClub during the 4th quarter valued at $166,000. Entropy Technologies LP bought a new stake in LendingClub during the 4th quarter worth $199,000. Finally, Highland Capital Management LLC acquired a new position in LendingClub in the 4th quarter worth about $180,000. 74.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LC has been the topic of a number of recent research reports. 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 note on Monday, December 2nd. Wedbush lifted their target price on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Maxim Group boosted their target price on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Finally, Piper Sandler reissued an “overweight” rating and issued a $19.00 price objective (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.38.

Insider Buying and Selling

In other LendingClub news, Director Michael P. Zeisser bought 20,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the purchase, the director now directly owns 148,018 shares of the company’s stock, valued at approximately $1,906,471.84. This trade represents a 15.62 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total value of $274,040.00. Following the completion of the transaction, the chief executive officer now directly owns 1,312,184 shares in the company, valued at approximately $21,152,406.08. This trade represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,000 shares of company stock valued at $777,240 over the last quarter. Insiders own 3.31% of the company’s stock.

LendingClub Stock Performance

Shares of NYSE LC opened at $13.61 on Friday. The company’s 50 day moving average price is $15.56 and its 200-day moving average price is $13.83. LendingClub Co. has a 52-week low of $7.48 and a 52-week high of $18.75. The company has a market capitalization of $1.54 billion, a P/E ratio of 30.23 and a beta of 2.00.

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.