Fuller & Thaler Asset Management Inc. Acquires New Holdings in LendingClub Co. (NYSE:LC)

Fuller & Thaler Asset Management Inc. bought a new position in shares of LendingClub Co. (NYSE:LC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,500 shares of the credit services provider’s stock, valued at approximately $575,000.

Several other hedge funds and other institutional investors have also bought and sold shares of LC. Wellington Management Group LLP lifted its stake in shares of LendingClub by 353.1% during the 4th quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider’s stock worth $61,515,000 after purchasing an additional 2,961,050 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of LendingClub by 158.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,522,360 shares of the credit services provider’s stock valued at $24,647,000 after buying an additional 933,680 shares during the last quarter. Cramer Rosenthal Mcglynn LLC bought a new stake in shares of LendingClub in the 4th quarter valued at about $13,432,000. Picton Mahoney Asset Management purchased a new position in shares of LendingClub in the 4th quarter worth approximately $9,788,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of LendingClub by 1,227.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,110 shares of the credit services provider’s stock worth $6,138,000 after acquiring an additional 350,548 shares in the last quarter. Institutional investors own 74.08% of the company’s stock.

Insider Activity at LendingClub

In related news, General Counsel Jordan Cheng sold 7,000 shares of the firm’s stock in a transaction dated 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 directly owns 88,263 shares in the company, valued at approximately $1,244,508.30. This trade represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Sanborn sold 5,250 shares of the company’s stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $10.00, for a total value of $52,500.00. Following the completion of the transaction, the chief executive officer now owns 1,303,032 shares in the company, valued at $13,030,320. This represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,500 shares of company stock valued at $439,405. 3.31% of the stock is owned by insiders.

LendingClub Stock Performance

LendingClub stock opened at $10.96 on Friday. The stock has a market capitalization of $1.25 billion, a P/E ratio of 24.36 and a beta of 2.09. The company’s fifty day moving average price is $10.74 and its 200 day moving average price is $13.65. LendingClub Co. has a 1 year low of $7.48 and a 1 year high of $18.75.

Analyst Ratings Changes

Several research firms have issued reports on LC. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $16.00 price target (down from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their target price on LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. StockNews.com upgraded LendingClub from a “sell” rating to a “hold” rating in a research note on Friday, April 4th. Finally, Piper Sandler restated an “overweight” rating and set a $19.00 price target (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, LendingClub has a consensus rating of “Moderate Buy” and an average price target of $16.00.

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.