Trexquant Investment LP Sells 44,915 Shares of LendingClub Co. (NYSE:LC)

Trexquant Investment LP decreased its holdings in LendingClub Co. (NYSE:LC) by 10.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 391,960 shares of the credit services provider’s stock after selling 44,915 shares during the quarter. Trexquant Investment LP’s holdings in LendingClub were worth $6,346,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in LC. Wellington Management Group LLP lifted its position in shares of LendingClub by 21.6% in the 3rd quarter. Wellington Management Group LLP now owns 838,535 shares of the credit services provider’s stock worth $9,584,000 after purchasing an additional 148,685 shares during the period. JPMorgan Chase & Co. boosted its position in LendingClub by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider’s stock valued at $11,409,000 after acquiring an additional 45,307 shares in the last quarter. Captrust Financial Advisors purchased a new position in shares of LendingClub during the 3rd quarter worth approximately $237,000. Victory Capital Management Inc. raised its position in shares of LendingClub by 301.0% in the 4th quarter. Victory Capital Management Inc. now owns 54,687 shares of the credit services provider’s stock worth $885,000 after acquiring an additional 41,048 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of LendingClub by 1.7% in 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 purchasing an additional 42,429 shares during the period. 74.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LC shares. StockNews.com raised LendingClub from a “sell” rating to a “hold” rating in a research note on Friday. Piper Sandler reissued an “overweight” rating and set a $19.00 price target (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut 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. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $16.00 target price (down from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $16.00.

Insider Activity at LendingClub

In other LendingClub news, General Counsel Jordan Cheng sold 7,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total transaction of $98,700.00. Following the transaction, the general counsel now owns 88,263 shares in the company, valued at approximately $1,244,508.30. This represents a 7.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael P. Zeisser purchased 20,000 shares of LendingClub stock in a transaction dated Monday, February 3rd. The stock was bought 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 ownership of the stock. The disclosure for this purchase can be found here. 3.31% of the stock is currently owned by insiders.

LendingClub Stock Down 8.0 %

NYSE:LC opened at $8.68 on Friday. The stock has a market cap of $983.61 million, a price-to-earnings ratio of 19.28 and a beta of 2.07. The company’s 50 day moving average price is $12.25 and its 200-day moving average price is $13.85. LendingClub Co. has a 52 week low of $7.48 and a 52 week 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.