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.
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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