Teacher Retirement System of Texas Boosts Holdings in LendingClub Co. (NYSE:LC)

Teacher Retirement System of Texas raised its stake in shares of LendingClub Co. (NYSE:LC) by 29.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 176,434 shares of the credit services provider’s stock after buying an additional 39,870 shares during the period. Teacher Retirement System of Texas owned about 0.16% of LendingClub worth $2,856,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of LC. Wellington Management Group LLP lifted its stake in shares of LendingClub by 21.6% in the 3rd quarter. Wellington Management Group LLP now owns 838,535 shares of the credit services provider’s stock valued at $9,584,000 after purchasing an additional 148,685 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of LendingClub by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider’s stock worth $11,409,000 after acquiring an additional 45,307 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of LendingClub during the 3rd quarter valued at about $237,000. Quantbot Technologies LP increased its stake in shares of LendingClub by 153.2% in the 3rd quarter. Quantbot Technologies LP now owns 158,763 shares of the credit services provider’s stock valued at $1,815,000 after purchasing an additional 96,053 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in LendingClub by 1.7% in 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 purchasing an additional 42,429 shares during the period. Institutional investors and hedge funds own 74.08% of the company’s stock.

LendingClub Stock Performance

Shares of LC stock opened at $11.44 on Wednesday. LendingClub Co. has a fifty-two week low of $7.48 and a fifty-two week high of $18.75. The stock’s fifty day moving average is $13.29 and its two-hundred day moving average is $13.91. The firm has a market capitalization of $1.30 billion, a P/E ratio of 25.42 and a beta of 2.07.

Insider Activity

In other LendingClub news, General Counsel Jordan Cheng sold 7,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction of $98,700.00. Following the transaction, the general counsel now owns 88,263 shares of the company’s stock, valued at approximately $1,244,508.30. The trade was a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total value of $274,040.00. Following the completion of the sale, the chief executive officer now directly owns 1,312,184 shares of the company’s stock, valued at $21,152,406.08. This trade represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,000 shares of company stock worth $606,660 over the last three months. Insiders own 3.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on LC. JPMorgan Chase & Co. dropped their price objective on LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Piper Sandler reissued an “overweight” rating and issued a $19.00 price target (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $16.00 price objective (down from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. One equities research 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. Based on data from MarketBeat.com, LendingClub presently has an average rating of “Moderate Buy” and an average price target of $16.00.

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.