AlphaQuest LLC Sells 117,574 Shares of LendingClub Co. (NYSE:LC)

AlphaQuest LLC reduced its stake in LendingClub Co. (NYSE:LC) by 83.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,640 shares of the credit services provider’s stock after selling 117,574 shares during the period. AlphaQuest LLC’s holdings in LendingClub were worth $383,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in LendingClub in the 4th quarter valued at $45,000. FMR LLC increased 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. Jones Financial Companies Lllp increased its holdings in LendingClub by 49.2% in the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock valued at $97,000 after acquiring an additional 1,975 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in LendingClub in the 4th quarter valued at $164,000. Finally, Vontobel Holding Ltd. bought a new stake in LendingClub in the 4th quarter valued at $166,000. 74.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $13.76, for a total transaction of $233,920.00. Following the completion of the sale, the chief executive officer now directly 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Jordan Cheng sold 7,000 shares of the stock in a transaction on 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 in the company, valued at $1,244,508.30. The trade was a 7.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,000 shares of company stock valued at $606,660. Company insiders own 3.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LC. JPMorgan Chase & Co. dropped their price objective on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday. Piper Sandler reissued an “overweight” rating and issued a $19.00 price objective (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $16.00 price objective (down from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.00.

LendingClub Trading Down 3.4 %

LC stock opened at $10.39 on Friday. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $18.75. The company has a 50-day moving average price of $14.08 and a 200 day moving average price of $13.92. The stock has a market cap of $1.18 billion, a PE ratio of 23.08 and a beta of 2.07.

LendingClub 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.