Entropy Technologies LP Purchases New Stake in LendingClub Co. (NYSE:LC)

Entropy Technologies LP acquired a new position in shares of LendingClub Co. (NYSE:LC) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 12,295 shares of the credit services provider’s stock, valued at approximately $199,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Highland Capital Management LLC bought a new position in LendingClub during the 4th quarter worth $180,000. Exchange Traded Concepts LLC bought a new position in shares of LendingClub in the fourth quarter worth $280,000. SG Americas Securities LLC grew its stake in shares of LendingClub by 699.5% in the fourth quarter. SG Americas Securities LLC now owns 318,745 shares of the credit services provider’s stock worth $5,160,000 after purchasing an additional 278,879 shares in the last quarter. Range Financial Group LLC bought a new position in shares of LendingClub in the fourth quarter worth $1,510,000. Finally, JPMorgan Chase & Co. grew its stake in shares of LendingClub by 4.8% in 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. 74.08% of the stock is currently owned by institutional investors.

Insider Activity at LendingClub

In other LendingClub news, Director Michael P. Zeisser acquired 20,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was purchased at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the transaction, the director now owns 148,018 shares of the company’s stock, valued at $1,906,471.84. The trade was a 15.62 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $13.76, for a total value of $233,920.00. Following the sale, the chief executive officer now owns 1,295,184 shares of the company’s stock, valued at $17,821,731.84. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,000 shares of company stock worth $777,240 in the last quarter. 3.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Wedbush increased their price target on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 price target (up previously from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $19.00 target price (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, Compass Point lifted their target price on LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.38.

LendingClub Stock Up 7.3 %

NYSE:LC opened at $14.12 on Friday. LendingClub Co. has a 1-year low of $7.48 and a 1-year high of $18.75. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 31.37 and a beta of 2.00. The stock has a fifty day simple moving average of $15.74 and a 200 day simple moving average of $13.73.

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.