Wellington Management Group LLP Has $61.52 Million Holdings in LendingClub Co. (NYSE:LC)

Wellington Management Group LLP boosted its stake in LendingClub Co. (NYSE:LC) by 353.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,799,585 shares of the credit services provider’s stock after purchasing an additional 2,961,050 shares during the period. Wellington Management Group LLP owned about 3.38% of LendingClub worth $61,515,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of LendingClub by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 901,357 shares of the credit services provider’s stock worth $10,303,000 after acquiring an additional 10,094 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in LendingClub by 5.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 318,222 shares of the credit services provider’s stock worth $3,637,000 after purchasing an additional 15,378 shares during the last quarter. FMR LLC lifted its position in shares of LendingClub by 32.1% in the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after purchasing an additional 1,424 shares during the period. Captrust Financial Advisors bought a new stake in shares of LendingClub in the 3rd quarter valued at $237,000. Finally, Verition Fund Management LLC acquired a new stake in shares of LendingClub during the third quarter worth $1,581,000. 74.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $16.00 target price (down previously from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. StockNews.com raised LendingClub from a “sell” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. decreased their target price on LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, March 10th. Finally, Piper Sandler reissued an “overweight” rating and issued a $19.00 price target (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Insider Buying and Selling

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $17,821,731.84. The trade was a 1.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael P. Zeisser acquired 20,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was bought at an average cost of $12.88 per share, with a total value of $257,600.00. Following the completion of the purchase, the director now 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 disclosure for this purchase can be found here. 3.31% of the stock is owned by company insiders.

LendingClub Stock Performance

Shares of NYSE:LC 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 business’s 50 day simple moving average is $12.25 and its two-hundred day simple moving average is $13.85. The firm has a market cap of $983.61 million, a P/E ratio of 19.28 and a beta of 2.07.

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.