Wellington Management Group LLP Grows Holdings in LendingClub Co. (NYSE:LC)

Wellington Management Group LLP raised its position in LendingClub Co. (NYSE:LC) by 353.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,799,585 shares of the credit services provider’s stock after buying an additional 2,961,050 shares during the period. Wellington Management Group LLP’s holdings in LendingClub were worth $61,515,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of LendingClub by 4.8% during the 3rd 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 during the period. Captrust Financial Advisors bought a new stake in LendingClub in the third quarter worth about $237,000. Victory Capital Management Inc. boosted its stake in LendingClub by 301.0% in the fourth quarter. Victory Capital Management Inc. now owns 54,687 shares of the credit services provider’s stock valued at $885,000 after acquiring an additional 41,048 shares during the last quarter. Geode Capital Management LLC grew its position in shares of LendingClub by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock valued at $29,265,000 after acquiring an additional 42,429 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of LendingClub during the 4th quarter worth approximately $1,696,000. Institutional investors own 74.08% of the company’s stock.

Wall Street Analyst Weigh In

LC has been the topic of several research analyst reports. StockNews.com upgraded LendingClub from a “sell” rating to a “hold” rating in a research note on Friday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $16.00 price target (down previously from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. Piper Sandler reissued an “overweight” rating and issued a $19.00 price objective (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, LendingClub has an average rating of “Moderate Buy” and a consensus target price of $16.00.

LendingClub Stock Down 8.0 %

Shares of LC opened at $8.68 on Friday. LendingClub Co. has a twelve month low of $7.48 and a twelve month high of $18.75. The stock has a market cap of $983.61 million, a PE ratio of 19.28 and a beta of 2.07. The business’s 50-day moving average price is $12.25 and its 200-day moving average price is $13.85.

Insider Buying and Selling

In other news, General Counsel Jordan Cheng sold 7,000 shares of the company’s 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 transaction, the general counsel now owns 88,263 shares of the company’s stock, valued at approximately $1,244,508.30. This represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael P. Zeisser acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were acquired at an average cost of $12.88 per share, with a total value of $257,600.00. Following the purchase, the director now directly owns 148,018 shares of the company’s stock, valued at $1,906,471.84. This trade represents a 15.62 % increase in their position. The disclosure for this purchase can be found here. 3.31% of the stock is currently owned by insiders.

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.