Quantinno Capital Management LP Purchases 79,671 Shares of LendingClub Corporation $LC

Quantinno Capital Management LP lifted its holdings in LendingClub Corporation (NYSE:LC) by 207.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 118,141 shares of the credit services provider’s stock after purchasing an additional 79,671 shares during the quarter. Quantinno Capital Management LP’s holdings in LendingClub were worth $1,692,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of LC. AQR Capital Management LLC increased its holdings in shares of LendingClub by 165.1% in the 1st quarter. AQR Capital Management LLC now owns 33,788 shares of the credit services provider’s stock worth $349,000 after buying an additional 21,045 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of LendingClub by 1.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 852,005 shares of the credit services provider’s stock valued at $8,793,000 after acquiring an additional 12,019 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of LendingClub by 3.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,658 shares of the credit services provider’s stock valued at $3,103,000 after acquiring an additional 11,407 shares during the last quarter. Cetera Investment Advisers grew its position in LendingClub by 105.9% in the second quarter. Cetera Investment Advisers now owns 28,870 shares of the credit services provider’s stock worth $347,000 after acquiring an additional 14,851 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in LendingClub by 10.9% in the second quarter. JPMorgan Chase & Co. now owns 585,163 shares of the credit services provider’s stock worth $7,040,000 after acquiring an additional 57,309 shares in the last quarter. Institutional investors own 74.08% of the company’s stock.

Insider Activity

In other LendingClub news, General Counsel Jordan Cheng sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $17.46, for a total value of $96,030.00. Following the completion of the sale, the general counsel owned 108,074 shares of the company’s stock, valued at $1,886,972.04. This trade represents a 4.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Fergal Stack sold 60,000 shares of the firm’s stock in a transaction dated 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 directly owned 204,977 shares of the company’s stock, valued at approximately $3,894,563. The trade was a 22.64% decrease in their position. 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. Over the last quarter, insiders sold 119,750 shares of company stock valued at $2,183,691. Company insiders own 3.19% of the company’s stock.

LendingClub Stock Performance

LendingClub stock opened at $19.21 on Thursday. LendingClub Corporation has a 12-month low of $10.74 and a 12-month high of $21.67. The firm has a 50-day moving average price of $18.95 and a 200-day moving average price of $17.02. The firm has a market capitalization of $2.22 billion, a PE ratio of 12.89 and a beta of 1.98.

Wall Street Analyst Weigh In

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

About LendingClub

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.