LendingClub Co. (NYSE:LC) is Harspring Capital Management LLC’s 9th Largest Position

Harspring Capital Management LLC trimmed its holdings in shares of LendingClub Co. (NYSE:LC) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,060,000 shares of the credit services provider’s stock after selling 100,000 shares during the quarter. LendingClub makes up approximately 4.9% of Harspring Capital Management LLC’s investment portfolio, making the stock its 9th biggest holding. Harspring Capital Management LLC owned about 0.94% of LendingClub worth $17,161,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of LendingClub by 353.1% in the 4th quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider’s stock worth $61,515,000 after buying an additional 2,961,050 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in LendingClub by 158.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,522,360 shares of the credit services provider’s stock valued at $24,647,000 after acquiring an additional 933,680 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in LendingClub in the fourth quarter worth $9,788,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of LendingClub by 1,227.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,110 shares of the credit services provider’s stock worth $6,138,000 after purchasing an additional 350,548 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of LendingClub by 87.1% during the 4th quarter. Invesco Ltd. now owns 637,458 shares of the credit services provider’s stock valued at $10,320,000 after purchasing an additional 296,813 shares during the last quarter. Institutional investors own 74.08% of the company’s stock.

Insider Activity

In other news, General Counsel Jordan Cheng sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction of $98,700.00. Following the sale, the general counsel now directly owns 88,263 shares in the company, valued at $1,244,508.30. This trade represents a 7.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Sanborn sold 5,250 shares of the company’s stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $10.00, for a total value of $52,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,303,032 shares of the company’s stock, valued at $13,030,320. The trade was a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,250 shares of company stock valued at $385,120 in the last three months. 3.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on LC shares. Piper Sandler reiterated an “overweight” rating and issued a $19.00 price target (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $16.00 price target (down previously from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. StockNews.com raised LendingClub from a “sell” rating to a “hold” rating in a report on Friday, April 4th. Finally, JPMorgan Chase & Co. decreased their target price on LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.00.

LendingClub Trading Up 0.7 %

Shares of NYSE:LC opened at $9.26 on Tuesday. LendingClub Co. has a 12-month low of $7.48 and a 12-month high of $18.75. The business has a 50 day moving average of $11.42 and a two-hundred day moving average of $13.76. The company has a market capitalization of $1.05 billion, a PE ratio of 20.58 and a beta of 2.09.

About LendingClub

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.