Shanda Media Ltd

recently revealed that they own 18.8% of LendingClub Corp (NYSE:LC) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Tuesday, December 12th. The investor owns 77,986,043 shares of the stock worth about $328,321,241. The reporting parties listed on the disclosure included Tianqiao Chen, Shanda Media Limited, Shanda Investment Group Limited, Shanda Technology Overseas Capital Company Limited and Shanda Asset Management Holdings Limited. The disclosure is available through Edgar at this link.

Other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its holdings in LendingClub by 4.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 36,240 shares of the credit services provider’s stock worth $200,000 after buying an additional 1,500 shares during the period. Great West Life Assurance Co. Can increased its holdings in LendingClub by 118.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 40,409 shares of the credit services provider’s stock worth $222,000 after buying an additional 21,909 shares during the period. Global X Management Co. LLC increased its holdings in LendingClub by 363.6% in the 2nd quarter. Global X Management Co. LLC now owns 57,467 shares of the credit services provider’s stock worth $317,000 after buying an additional 45,071 shares during the period. Trexquant Investment LP increased its holdings in LendingClub by 40.1% in the 2nd quarter. Trexquant Investment LP now owns 67,262 shares of the credit services provider’s stock worth $371,000 after buying an additional 19,262 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in LendingClub in the 2nd quarter worth approximately $3,670,000. 86.84% of the stock is owned by hedge funds and other institutional investors.

In related news, COO Sameer Gulati sold 8,141 shares of LendingClub stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $6.02, for a total value of $49,008.82. Following the sale, the chief operating officer now owns 288,637 shares of the company’s stock, valued at approximately $1,737,594.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Tian Qiao Chen purchased 4,000,000 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was bought at an average cost of $3.80 per share, for a total transaction of $15,200,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 4,030,000 shares of company stock worth $15,327,300 and have sold 88,765 shares worth $458,573. 9.72% of the stock is owned by company insiders.

Several equities analysts recently weighed in on LC shares. Needham & Company LLC started coverage on shares of LendingClub in a report on Wednesday, November 1st. They issued a “buy” rating and a $7.00 price target on the stock. ValuEngine downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. BTIG Research reiterated a “buy” rating and issued a $9.00 price target on shares of LendingClub in a report on Wednesday, September 27th. BidaskClub cut shares of LendingClub from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 21st. Finally, Morgan Stanley dropped their price objective on shares of LendingClub from $7.00 to $6.50 and set an “overweight” rating on the stock in a research note on Wednesday, November 8th. 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. The stock presently has an average rating of “Hold” and an average target price of $6.54.

Shares of LendingClub Corp (LC) traded up $0.32 during midday trading on Tuesday, hitting $4.21. 28,695,784 shares of the stock were exchanged, compared to its average volume of 6,788,361. LendingClub Corp has a twelve month low of $3.29 and a twelve month high of $6.78. The company has a debt-to-equity ratio of 3.52, a quick ratio of 16.90 and a current ratio of 18.02.

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About LendingClub

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.

Institutional Ownership by Quarter for LendingClub (NYSE:LC)

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