LendingClub Corp (LC) Major Shareholder Acquires $15,200,000.00 in Stock
LendingClub Corp (NYSE:LC) major shareholder Tian Qiao Chen purchased 4,000,000 shares of LendingClub stock in a transaction dated Thursday, December 7th. The stock was bought at an average price of $3.80 per share, for a total transaction of $15,200,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Tian Qiao Chen also recently made the following trade(s):
- On Tuesday, December 12th, Tian Qiao Chen purchased 21,927,175 shares of LendingClub stock. The stock was bought at an average price of $3.90 per share, for a total transaction of $85,515,982.50.
LendingClub Corp (LC) opened at $4.02 on Thursday. The company has a debt-to-equity ratio of 3.52, a current ratio of 18.02 and a quick ratio of 16.90. LendingClub Corp has a fifty-two week low of $3.29 and a fifty-two week high of $6.78.
Institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new position in LendingClub during the 3rd quarter worth approximately $103,000. Prudential Financial Inc. raised its holdings in LendingClub by 5.4% during the 2nd quarter. Prudential Financial Inc. now owns 22,850 shares of the credit services provider’s stock worth $126,000 after purchasing an additional 1,170 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in LendingClub by 27.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 23,822 shares of the credit services provider’s stock worth $131,000 after purchasing an additional 5,130 shares during the last quarter. Blair William & Co. IL raised its holdings in LendingClub by 11.3% during the 2nd quarter. Blair William & Co. IL now owns 26,150 shares of the credit services provider’s stock worth $144,000 after purchasing an additional 2,650 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in LendingClub during the 2nd quarter worth approximately $150,000. Hedge funds and other institutional investors own 86.84% of the company’s stock.
LC has been the subject of a number of research reports. Zacks Investment Research lowered shares of LendingClub from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Vetr lowered shares of LendingClub from a “buy” rating to a “hold” rating and set a $6.55 price objective for the company. in a report on Monday, September 4th. ValuEngine lowered shares of LendingClub from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Canaccord Genuity reiterated a “hold” rating and issued a $7.00 price objective on shares of LendingClub in a report on Sunday, October 1st. Finally, BidaskClub lowered shares of LendingClub from a “sell” rating to a “strong sell” rating in a report on Saturday, October 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $6.54.
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LendingClub Company Profile
LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.
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