Entropy Technologies LP Purchases Shares of 12,295 LendingClub Co. (NYSE:LC)

Entropy Technologies LP purchased a new stake in LendingClub Co. (NYSE:LC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 12,295 shares of the credit services provider’s stock, valued at approximately $199,000.

A number of other institutional investors have also modified their holdings of the company. State Street Corp grew its holdings in shares of LendingClub by 2.2% during the 3rd quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock worth $44,541,000 after purchasing an additional 82,315 shares during the period. Geode Capital Management LLC grew its holdings in shares of LendingClub by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock worth $29,265,000 after purchasing an additional 42,429 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of LendingClub by 98.1% during the 3rd 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. Assenagon Asset Management S.A. grew its holdings in shares of LendingClub by 120.3% during the 3rd 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. Finally, JPMorgan Chase & Co. grew its holdings in shares of LendingClub by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider’s stock worth $11,409,000 after purchasing an additional 45,307 shares during the period. Hedge funds and other institutional investors own 74.08% of the company’s stock.

LendingClub Stock Up 7.3 %

Shares of LC opened at $14.12 on Friday. The business’s 50 day moving average is $15.74 and its two-hundred day moving average is $13.73. LendingClub Co. has a 52-week low of $7.48 and a 52-week high of $18.75. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 31.37 and a beta of 2.00.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LC shares. Compass Point boosted 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. JPMorgan Chase & Co. reissued a “neutral” rating and set a $17.00 price target (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. Maxim Group boosted their price target on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $16.00 price target (down from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, Wedbush boosted their price target on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. 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 stock. Based on data from MarketBeat, LendingClub has a consensus rating of “Moderate Buy” and a consensus price target of $16.38.

Insider Buying and Selling at LendingClub

In related 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 sale, the chief executive officer now directly owns 1,312,184 shares of the company’s stock, valued at approximately $21,152,406.08. This represents a 1.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael P. Zeisser purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were purchased at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the completion of the transaction, the director now owns 148,018 shares in the company, valued at approximately $1,906,471.84. This represents a 15.62 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 51,000 shares of company stock valued at $777,240 in the last three months. Corporate insiders own 3.31% of the company’s stock.

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.