Joel Isaacson & Co. LLC Reduces Position in LendingClub Co. (NYSE:LC)

Joel Isaacson & Co. LLC trimmed its position in shares of LendingClub Co. (NYSE:LC) by 14.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 218,801 shares of the credit services provider’s stock after selling 36,000 shares during the period. Joel Isaacson & Co. LLC’s holdings in LendingClub were worth $3,542,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LC. Cubist Systematic Strategies LLC lifted its position in shares of LendingClub by 212.4% during the second quarter. Cubist Systematic Strategies LLC now owns 345,079 shares of the credit services provider’s stock worth $2,919,000 after purchasing an additional 234,611 shares during the last quarter. SG Americas Securities LLC increased its stake in LendingClub by 223.0% in the 3rd quarter. SG Americas Securities LLC now owns 39,866 shares of the credit services provider’s stock worth $456,000 after buying an additional 27,522 shares during the period. Creative Planning lifted its holdings in LendingClub by 20.3% during the 3rd quarter. Creative Planning now owns 33,695 shares of the credit services provider’s stock valued at $385,000 after buying an additional 5,695 shares in the last quarter. AlphaMark Advisors LLC purchased a new stake in LendingClub in the 3rd quarter valued at about $32,000. Finally, Blue Trust Inc. grew its stake in LendingClub by 259.8% in the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after acquiring an additional 5,247 shares in the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

LendingClub Price Performance

LC opened at $13.50 on Friday. The firm has a market capitalization of $1.52 billion, a PE ratio of 29.99 and a beta of 2.01. The business’s 50-day moving average is $16.01 and its two-hundred day moving average is $13.64. LendingClub Co. has a 1 year low of $7.48 and a 1 year high of $18.75.

Insider Activity

In related news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 1,312,184 shares in the company, valued at $21,152,406.08. The trade was a 1.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael P. Zeisser purchased 20,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was acquired at an average price 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 $1,906,471.84. The trade was a 15.62 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 51,000 shares of company stock worth $777,240. Corporate insiders own 3.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LC. Maxim Group lifted their price target on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 target price (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. 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 report on Wednesday, January 29th. Wedbush lifted their price objective on LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Compass Point increased their target price on shares of LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.38.

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.