Fuller & Thaler Asset Management Inc. Invests $575,000 in LendingClub Co. (NYSE:LC)

Fuller & Thaler Asset Management Inc. bought a new position in shares of LendingClub Co. (NYSE:LC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,500 shares of the credit services provider’s stock, valued at approximately $575,000.

Several other institutional investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of LendingClub by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider’s stock worth $11,409,000 after acquiring an additional 45,307 shares in the last quarter. Victory Capital Management Inc. lifted its position in LendingClub by 301.0% during the fourth quarter. Victory Capital Management Inc. now owns 54,687 shares of the credit services provider’s stock valued at $885,000 after purchasing an additional 41,048 shares during the last quarter. Raymond James Financial Inc. bought a new position in LendingClub during the fourth quarter valued at $1,696,000. Oppenheimer Asset Management Inc. purchased a new position in shares of LendingClub in the 4th quarter worth $470,000. Finally, Invesco Ltd. increased its holdings in shares of LendingClub by 87.1% in the 4th quarter. Invesco Ltd. now owns 637,458 shares of the credit services provider’s stock worth $10,320,000 after buying an additional 296,813 shares during the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at LendingClub

In other LendingClub news, General Counsel Jordan Cheng sold 7,000 shares of LendingClub stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction of $98,700.00. Following the completion of the sale, the general counsel now directly owns 88,263 shares of the company’s stock, valued at $1,244,508.30. The trade was a 7.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Scott Sanborn sold 5,250 shares of the stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $10.00, for a total value of $52,500.00. Following the transaction, the chief executive officer now directly owns 1,303,032 shares in the company, 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 34,500 shares of company stock worth $439,405 in the last 90 days. 3.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

LendingClub Trading Up 0.8 %

NYSE:LC opened at $10.96 on Friday. The stock has a fifty day simple moving average of $10.74 and a 200-day simple moving average of $13.65. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 24.36 and a beta of 2.09. LendingClub Co. has a twelve month low of $7.48 and a twelve month high of $18.75.

LendingClub Profile

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.