Sei Investments Co. Trims Stock Holdings in LendingClub Corporation $LC

Sei Investments Co. lowered its stake in LendingClub Corporation (NYSE:LC) by 57.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,633 shares of the credit services provider’s stock after selling 39,772 shares during the quarter. Sei Investments Co.’s holdings in LendingClub were worth $424,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Osaic Holdings Inc. grew its stake in shares of LendingClub by 8.8% during the 2nd quarter. Osaic Holdings Inc. now owns 13,354 shares of the credit services provider’s stock valued at $160,000 after acquiring an additional 1,084 shares during the period. ProShare Advisors LLC lifted its holdings in LendingClub by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 20,704 shares of the credit services provider’s stock valued at $392,000 after purchasing an additional 1,335 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in shares of LendingClub by 13.8% in the fourth quarter. SBI Securities Co. Ltd. now owns 13,533 shares of the credit services provider’s stock worth $256,000 after purchasing an additional 1,645 shares during the period. Interval Partners LP boosted its position in shares of LendingClub by 0.8% in the third quarter. Interval Partners LP now owns 231,142 shares of the credit services provider’s stock worth $3,511,000 after purchasing an additional 1,838 shares during the period. Finally, Swiss National Bank increased its stake in shares of LendingClub by 0.8% in the first quarter. Swiss National Bank now owns 228,160 shares of the credit services provider’s stock worth $3,267,000 after purchasing an additional 1,900 shares in the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Stephens restated an “overweight” rating and set a $22.50 price objective (up from $21.00) on shares of LendingClub in a research report on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of LendingClub in a report on Wednesday, May 6th. Finally, Zacks Research upgraded LendingClub from a “hold” rating to a “strong-buy” rating in a research note 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.07.

LendingClub Stock Performance

NYSE LC opened at $19.21 on Friday. LendingClub Corporation has a 12 month low of $10.74 and a 12 month high of $21.67. The stock has a market cap of $2.22 billion, a PE ratio of 12.89 and a beta of 1.98. The stock’s 50 day moving average is $19.03 and its 200 day moving average is $17.02.

Insider Activity at LendingClub

In related news, General Counsel Jordan Cheng sold 5,500 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $17.46, for a total transaction of $96,030.00. Following the completion of the transaction, the general counsel directly owned 108,074 shares of the company’s stock, valued at approximately $1,886,972.04. This trade represents a 4.84% decrease in their ownership of the stock. The transaction 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, 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 transaction of $340,000.00. Following the completion of the sale, the chief financial officer owned 234,955 shares in the company, valued at approximately $3,994,235. This represents a 7.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 119,750 shares of company stock worth $2,183,691. 3.19% of the stock is currently owned by corporate insiders.

LendingClub Company 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.