228,564 Shares in LendingClub Co. (NYSE:LC) Purchased by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC purchased a new stake in LendingClub Co. (NYSE:LC) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 228,564 shares of the credit services provider’s stock, valued at approximately $3,700,000. Brandywine Global Investment Management LLC owned approximately 0.20% of LendingClub as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LC. SBI Securities Co. Ltd. acquired a new stake in LendingClub during the 4th quarter valued at $45,000. FMR LLC increased its stake in shares of LendingClub by 32.1% in the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after buying an additional 1,424 shares in the last quarter. Jones Financial Companies Lllp lifted its position in LendingClub by 49.2% during the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock worth $97,000 after buying an additional 1,975 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in LendingClub during the 4th quarter worth about $164,000. Finally, Vontobel Holding Ltd. acquired a new stake in LendingClub in the 4th quarter valued at about $166,000. Institutional investors own 74.08% of the company’s stock.

Insider Activity

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total value of $274,040.00. Following the sale, the chief executive officer now owns 1,312,184 shares of the company’s stock, valued at $21,152,406.08. This trade represents a 1.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Jordan Cheng sold 7,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total value of $98,700.00. Following the transaction, the general counsel now directly owns 88,263 shares of the company’s stock, valued at $1,244,508.30. This represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,000 shares of company stock worth $606,660 in the last 90 days. Corporate insiders own 3.31% of the company’s stock.

Wall Street Analysts Forecast Growth

LC has been the topic of several research analyst reports. Piper Sandler reissued an “overweight” rating and set a $19.00 price target (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their target price on LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, March 10th. Finally, 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 note on Wednesday, January 29th. One equities 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 company’s stock. According to MarketBeat.com, LendingClub currently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

LendingClub Trading Up 1.9 %

LC stock opened at $10.52 on Wednesday. LendingClub Co. has a 1-year low of $7.48 and a 1-year high of $18.75. The business’s 50-day moving average price is $12.69 and its two-hundred day moving average price is $13.91. The firm has a market cap of $1.19 billion, a PE ratio of 23.38 and a beta of 2.07.

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.