Picton Mahoney Asset Management purchased a new stake in LendingClub Co. (NYSE:LC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 604,534 shares of the credit services provider's stock, valued at approximately $9,788,000. Picton Mahoney Asset Management owned 0.54% of LendingClub as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Aigen Investment Management LP increased its position in LendingClub by 18.5% during the 3rd quarter. Aigen Investment Management LP now owns 31,542 shares of the credit services provider's stock worth $361,000 after purchasing an additional 4,917 shares during the period. Quest Partners LLC increased its position in LendingClub by 196.0% during the 3rd quarter. Quest Partners LLC now owns 141,214 shares of the credit services provider's stock worth $1,614,000 after purchasing an additional 93,506 shares during the period. Princeton Capital Management LLC acquired a new position in LendingClub during the 3rd quarter worth approximately $171,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in LendingClub during the 3rd quarter worth approximately $326,000. Finally, Intech Investment Management LLC acquired a new position in LendingClub during the 3rd quarter worth approximately $454,000. Institutional investors and hedge funds own 74.08% of the company's stock.

Several brokerages have recently commented on LC. JPMorgan Chase & Co. decreased their price target on LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. Keefe, Bruyette & Woods reissued 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. Finally, Piper Sandler reissued an "overweight" rating and set a $19.00 price target (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. 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.com, the company presently has an average rating of "Moderate Buy" and an average target price of $16.00.

View Our Latest Report on LendingClub

LC stock opened at $10.89 on Friday. LendingClub Co. has a 1 year low of $7.48 and a 1 year high of $18.75. The stock's 50 day moving average price is $13.95 and its 200 day moving average price is $13.91. The firm has a market cap of $1.23 billion, a P/E ratio of 24.19 and a beta of 2.07.

In other LendingClub news, Director Michael P. Zeisser purchased 20,000 shares of LendingClub stock in a transaction on Monday, February 3rd. The shares were bought at an average price of $12.88 per share, with a total value of $257,600.00. Following the purchase, the director now directly owns 148,018 shares in the company, valued at $1,906,471.84. This trade represents a 15.62 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the company's stock in a transaction on 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 approximately $21,152,406.08. The trade was a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,000 shares of company stock valued at $606,660 in the last quarter. 3.31% of the stock is currently owned by company insiders.

(Free Report)

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.

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