TCW Group Inc. Reduces Holdings in LendingClub Co. (NYSE:LC)

TCW Group Inc. lowered its position in LendingClub Co. (NYSE:LC) by 61.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 299,241 shares of the credit services provider’s stock after selling 472,100 shares during the quarter. TCW Group Inc. owned 0.27% of LendingClub worth $4,845,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its stake in shares of LendingClub by 7.3% during the 4th quarter. New York State Common Retirement Fund now owns 29,316 shares of the credit services provider’s stock valued at $475,000 after buying an additional 2,000 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in LendingClub in the fourth quarter valued at $164,000. Vontobel Holding Ltd. bought a new position in LendingClub during the 4th quarter valued at $166,000. Entropy Technologies LP acquired a new position in LendingClub during the 4th quarter worth $199,000. Finally, Highland Capital Management LLC bought a new stake in shares of LendingClub in the 4th quarter worth about $180,000. 74.08% of the stock is owned by hedge funds and other institutional investors.

LendingClub Trading Down 4.2 %

Shares of LendingClub stock opened at $13.02 on Monday. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 28.92 and a beta of 2.01. LendingClub Co. has a twelve month low of $7.48 and a twelve month high of $18.75. The business’s 50 day simple moving average is $15.49 and its 200-day simple moving average is $13.88.

Insider Buying and Selling

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total transaction of $274,040.00. Following the completion of the transaction, the chief executive officer now directly owns 1,312,184 shares of the company’s stock, valued at $21,152,406.08. The trade was a 1.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Jordan Cheng sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total transaction of $98,700.00. Following the completion of the sale, the general counsel now owns 88,263 shares in the company, valued at $1,244,508.30. The trade was a 7.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,000 shares of company stock worth $875,940 in the last three months. 3.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LC shares. Keefe, Bruyette & Woods reaffirmed 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 target price (up previously from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $19.00 price target (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.38.

LendingClub Company 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.