LendingClub Co. (NYSE:LC) Shares Sold by TCW Group Inc.

TCW Group Inc. lessened its stake in shares of LendingClub Co. (NYSE:LC) by 61.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 299,241 shares of the credit services provider’s stock after selling 472,100 shares during the period. TCW Group Inc.’s holdings in LendingClub were worth $4,845,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LC. FMR LLC lifted its holdings in LendingClub by 32.1% in the 3rd 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. Blue Trust Inc. raised its holdings in shares of LendingClub by 259.8% in the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after purchasing an additional 5,247 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in LendingClub during the fourth quarter valued at approximately $164,000. Vontobel Holding Ltd. bought a new stake in LendingClub during the fourth quarter worth approximately $166,000. Finally, Princeton Capital Management LLC acquired a new position in LendingClub in the third quarter worth approximately $171,000. Institutional investors own 74.08% of the company’s stock.

Insiders Place Their Bets

In other LendingClub news, General Counsel Jordan Cheng sold 7,000 shares of the stock in a transaction that occurred 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 in the company, valued at $1,244,508.30. This represents a 7.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the business’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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,000 shares of company stock worth $875,940. 3.31% of the stock is currently owned by company insiders.

LendingClub Stock Down 4.2 %

Shares of LendingClub stock opened at $13.02 on Monday. The stock has a market cap of $1.48 billion, a PE ratio of 28.92 and a beta of 2.01. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $18.75. The business has a fifty day simple moving average of $15.49 and a 200-day simple moving average of $13.88.

Wall Street Analyst Weigh In

LC has been the subject of a number of recent research reports. Piper Sandler reiterated an “overweight” rating and set a $19.00 price objective (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 target price (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $16.00 price target (down previously 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 assigned a buy rating to the stock. According to MarketBeat.com, LendingClub presently has a consensus rating of “Moderate Buy” and an average price target of $16.38.

About LendingClub

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.