Legacy Capital Group California Inc. Sells 1,648 Shares of LendingClub Co. (NYSE:LC)

Legacy Capital Group California Inc. lessened its stake in LendingClub Co. (NYSE:LC) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,783 shares of the credit services provider’s stock after selling 1,648 shares during the quarter. Legacy Capital Group California Inc. owned 0.09% of LendingClub worth $1,696,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in LC. FMR LLC raised its position 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 buying an additional 1,424 shares during the last quarter. Blue Trust Inc. grew its stake in shares of LendingClub by 259.8% during the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after acquiring an additional 5,247 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of LendingClub in the fourth quarter valued at approximately $164,000. Vontobel Holding Ltd. acquired a new stake in shares of LendingClub in the fourth quarter valued at approximately $166,000. Finally, Princeton Capital Management LLC bought a new stake in shares of LendingClub in the third quarter worth $171,000. Institutional investors own 74.08% of the company’s stock.

Insider Buying and Selling at LendingClub

In related news, Director Michael P. Zeisser acquired 20,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was purchased at an average cost of $12.88 per share, with a total value of $257,600.00. Following the acquisition, the director now directly owns 148,018 shares of the company’s stock, valued at approximately $1,906,471.84. The trade was a 15.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction on 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 directly owns 1,295,184 shares in the company, valued at approximately $17,821,731.84. This trade represents 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 valued at $777,240 in the last quarter. Company insiders own 3.31% of the company’s stock.

LendingClub Stock Performance

LC stock opened at $13.61 on Friday. LendingClub Co. has a 52 week low of $7.48 and a 52 week high of $18.75. The company has a market capitalization of $1.54 billion, a PE ratio of 30.23 and a beta of 2.00. The company’s 50-day simple moving average is $15.56 and its 200 day simple moving average is $13.83.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LC. Wedbush raised their target price on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Piper Sandler restated 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. Compass Point upped 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. Maxim Group increased their price target on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

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.