LendingClub Co. (NYSE:LC) Stock Holdings Lowered by Grassi Investment Management

Grassi Investment Management lowered its stake in LendingClub Co. (NYSE:LC) by 36.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,600 shares of the credit services provider’s stock after selling 27,350 shares during the quarter. Grassi Investment Management’s holdings in LendingClub were worth $787,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of LC. Assenagon Asset Management S.A. lifted its holdings in LendingClub by 120.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock worth $17,351,000 after purchasing an additional 828,958 shares during the period. Point72 Asset Management L.P. lifted its holdings in LendingClub by 98.1% in the third quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider’s stock worth $17,686,000 after purchasing an additional 766,287 shares during the period. American Century Companies Inc. lifted its holdings in LendingClub by 24.8% in the second quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock worth $14,032,000 after purchasing an additional 329,279 shares during the period. Dimensional Fund Advisors LP lifted its holdings in LendingClub by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock worth $49,901,000 after purchasing an additional 300,536 shares during the period. Finally, Marshall Wace LLP acquired a new stake in LendingClub in the 2nd quarter valued at about $2,412,000. Institutional investors and hedge funds own 74.08% of the company’s stock.

Insider Buying and Selling

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total transaction of $274,040.00. Following the completion of the sale, the chief executive officer now owns 1,312,184 shares of the company’s stock, valued at $21,152,406.08. This represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Jordan Cheng sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $14.83, for a total value of $326,260.00. Following the sale, the general counsel now directly owns 89,385 shares of the company’s stock, valued at $1,325,579.55. The trade was a 19.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,500 shares of company stock worth $1,158,610. Insiders own 3.31% of the company’s stock.

LendingClub Trading Down 0.6 %

LC stock traded down $0.09 during mid-day trading on Monday, reaching $14.85. 1,260,020 shares of the stock traded hands, compared to its average volume of 1,634,407. LendingClub Co. has a 52-week low of $7.48 and a 52-week high of $18.75. The company has a market cap of $1.67 billion, a P/E ratio of 32.28 and a beta of 2.03. The stock’s fifty day moving average is $16.02 and its 200-day moving average is $12.87.

LendingClub (NYSE:LC) last issued its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. The company had revenue of $201.90 million for the quarter, compared to the consensus estimate of $190.40 million. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS. Equities research analysts expect that LendingClub Co. will post 0.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

LC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 price target (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Maxim Group upped their price target on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. Piper Sandler upped their price target on shares of LendingClub from $15.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Wedbush upped their price target on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, LendingClub has a consensus rating of “Moderate Buy” and an average target price of $16.63.

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.