Trexquant Investment LP Trims Stock Holdings in LendingClub Co. (NYSE:LC)

Trexquant Investment LP reduced its holdings in shares of LendingClub Co. (NYSE:LC) by 10.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 391,960 shares of the credit services provider’s stock after selling 44,915 shares during the quarter. Trexquant Investment LP owned about 0.35% of LendingClub worth $6,346,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp grew its holdings in LendingClub by 2.2% during the 3rd quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock valued at $44,541,000 after buying an additional 82,315 shares in the last quarter. Wellington Management Group LLP grew its stake in LendingClub by 353.1% during the fourth quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider’s stock valued at $61,515,000 after acquiring an additional 2,961,050 shares in the last quarter. Geode Capital Management LLC increased its holdings in 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 acquiring an additional 42,429 shares during the period. American Century Companies Inc. lifted its stake in LendingClub by 9.3% in the 4th quarter. American Century Companies Inc. now owns 1,895,699 shares of the credit services provider’s stock worth $30,691,000 after purchasing an additional 160,916 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in LendingClub by 98.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider’s stock valued at $17,686,000 after purchasing an additional 766,287 shares during the period. 74.08% of the stock is owned by institutional investors.

LendingClub Stock Performance

Shares of LendingClub stock opened at $8.68 on Friday. LendingClub Co. has a 52-week low of $7.48 and a 52-week high of $18.75. The company has a fifty day moving average of $12.25 and a 200-day moving average of $13.85. The stock has a market capitalization of $983.61 million, a price-to-earnings ratio of 19.28 and a beta of 2.07.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LC shares. JPMorgan Chase & Co. lowered their price objective on LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, March 10th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $16.00 price target (down previously from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. StockNews.com upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Piper Sandler reiterated an “overweight” rating and set a $19.00 target price (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, LendingClub presently has an average rating of “Moderate Buy” and an average price target of $16.00.

Insiders Place Their Bets

In other news, Director Michael P. Zeisser purchased 20,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was bought at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the acquisition, the director now directly owns 148,018 shares of the company’s stock, valued at $1,906,471.84. This represents a 15.62 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott Sanborn sold 17,000 shares of the firm’s 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 in the company, valued at approximately $17,821,731.84. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. 3.31% of the stock is currently owned by insiders.

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.