Quantinno Capital Management LP lifted its stake in shares of LendingClub Corporation (NYSE:LC – Free Report) by 207.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 118,141 shares of the credit services provider’s stock after acquiring an additional 79,671 shares during the quarter. Quantinno Capital Management LP owned approximately 0.10% of LendingClub worth $1,692,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in LendingClub during the fourth quarter valued at approximately $40,000. Kestra Advisory Services LLC bought a new position in shares of LendingClub in the fourth quarter worth approximately $44,000. Quarry LP increased its stake in shares of LendingClub by 343.0% in the third quarter. Quarry LP now owns 3,030 shares of the credit services provider’s stock worth $46,000 after purchasing an additional 2,346 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of LendingClub in the second quarter worth $53,000. Finally, Larson Financial Group LLC raised its position in shares of LendingClub by 1,435.4% during the 4th quarter. Larson Financial Group LLC now owns 3,040 shares of the credit services provider’s stock valued at $58,000 after purchasing an additional 2,842 shares during the period. 74.08% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at LendingClub
In other LendingClub news, CFO Andrew Labenne sold 20,000 shares of LendingClub stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $17.00, for a total value of $340,000.00. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Fergal Stack sold 60,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $19.00, for a total transaction of $1,140,000.00. Following the completion of the sale, the senior vice president owned 204,977 shares in the company, valued at approximately $3,894,563. The trade was a 22.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 119,750 shares of company stock valued at $2,183,691. Insiders own 3.19% of the company’s stock.
Wall Street Analysts Forecast Growth
LendingClub Price Performance
LendingClub stock opened at $19.21 on Thursday. The stock has a market cap of $2.22 billion, a P/E ratio of 12.89 and a beta of 1.98. LendingClub Corporation has a 1 year low of $10.74 and a 1 year high of $21.67. The firm’s 50 day moving average price is $18.95 and its 200-day moving average price is $17.02.
LendingClub 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.
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