Sei Investments Co. Lowers Holdings in LendingClub Corporation $LC

Sei Investments Co. decreased its position in LendingClub Corporation (NYSE:LC) by 57.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,633 shares of the credit services provider’s stock after selling 39,772 shares during the period. Sei Investments Co.’s holdings in LendingClub were worth $424,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LC. Fuller & Thaler Asset Management Inc. purchased a new position in LendingClub in the 4th quarter worth approximately $63,580,000. Wellington Management Group LLP increased its holdings in shares of LendingClub by 18.8% in the 3rd quarter. Wellington Management Group LLP now owns 7,960,550 shares of the credit services provider’s stock worth $120,921,000 after purchasing an additional 1,261,861 shares in the last quarter. Marshall Wace LLP raised its stake in shares of LendingClub by 1,232.2% in the third quarter. Marshall Wace LLP now owns 735,821 shares of the credit services provider’s stock worth $11,177,000 after purchasing an additional 680,589 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of LendingClub by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 11,697,333 shares of the credit services provider’s stock worth $221,547,000 after purchasing an additional 516,542 shares during the last quarter. Finally, Nicholas Investment Partners LP raised its stake in shares of LendingClub by 144.7% in the fourth quarter. Nicholas Investment Partners LP now owns 709,206 shares of the credit services provider’s stock worth $13,432,000 after purchasing an additional 419,417 shares during the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

LendingClub Price Performance

Shares of LC opened at $19.21 on Friday. The firm has a market capitalization of $2.22 billion, a P/E ratio of 12.89 and a beta of 1.98. LendingClub Corporation has a one year low of $10.74 and a one year high of $21.67. The business has a fifty day moving average of $19.03 and a 200 day moving average of $17.02.

Wall Street Analysts Forecast Growth

LC has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of LendingClub in a research report on Wednesday, May 6th. Stephens restated an “overweight” rating and set a $22.50 target price (up from $21.00) on shares of LendingClub in a research note on Tuesday, April 28th. Finally, Zacks Research raised shares of LendingClub from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.07.

Insider Buying and Selling at LendingClub

In related news, CFO Andrew Labenne sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $17.00, for a total transaction of $340,000.00. Following the completion of the sale, the chief financial officer directly owned 234,955 shares in the company, valued at approximately $3,994,235. The trade was a 7.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Fergal Stack sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $19.00, for a total transaction of $1,140,000.00. Following the sale, the senior vice president directly owned 204,977 shares of the company’s stock, valued at approximately $3,894,563. This represents a 22.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 119,750 shares of company stock worth $2,183,691 over the last 90 days. 3.19% of the stock is owned by company insiders.

LendingClub Company Profile

LendingClub Corporation operates an online lending marketplace that connects borrowers seeking personal and small business credit with individual and institutional investors. The platform leverages technology to streamline the loan application and underwriting process, offering unsecured personal loans, auto refinancing, and small business loans. In addition to lending products, LendingClub provides high-yield savings accounts and certificates of deposit through its banking charter, following its acquisition of Radius Bank in 2021.

Founded in 2006 by Renaud Laplanche, LendingClub pioneered peer-to-peer lending in the United States, helping to democratize access to credit and investment opportunities.