Insider Buying: LendingClub Corp (LC) Major Shareholder Purchases 21,927,175 Shares of Stock
LendingClub Corp (NYSE:LC) major shareholder Tian Qiao Chen acquired 21,927,175 shares of the stock in a transaction dated Tuesday, December 12th. The shares were bought at an average cost of $3.90 per share, with a total value of $85,515,982.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Tian Qiao Chen also recently made the following trade(s):
- On Thursday, December 7th, Tian Qiao Chen purchased 4,000,000 shares of LendingClub stock. The shares were acquired at an average cost of $3.80 per share, with a total value of $15,200,000.00.
Shares of LendingClub Corp (NYSE LC) traded down $0.19 during trading on Wednesday, hitting $4.02. 14,915,203 shares of the stock were exchanged, compared to its average volume of 6,822,269. The company has a current ratio of 18.02, a quick ratio of 16.90 and a debt-to-equity ratio of 3.52. LendingClub Corp has a 1-year low of $3.29 and a 1-year high of $6.78.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in LendingClub by 4.8% during the second quarter. Vanguard Group Inc. now owns 28,403,846 shares of the credit services provider’s stock worth $156,505,000 after acquiring an additional 1,300,878 shares during the period. Fred Alger Management Inc. raised its stake in LendingClub by 5.8% during the second quarter. Fred Alger Management Inc. now owns 12,337,744 shares of the credit services provider’s stock worth $67,981,000 after acquiring an additional 681,192 shares during the period. Jackson Square Partners LLC raised its stake in LendingClub by 2.8% during the third quarter. Jackson Square Partners LLC now owns 9,883,742 shares of the credit services provider’s stock worth $60,191,000 after acquiring an additional 273,650 shares during the period. State Street Corp raised its stake in LendingClub by 5.3% during the second quarter. State Street Corp now owns 6,461,593 shares of the credit services provider’s stock worth $35,602,000 after acquiring an additional 323,373 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in LendingClub by 23.2% during the third quarter. Dimensional Fund Advisors LP now owns 5,942,304 shares of the credit services provider’s stock worth $36,191,000 after acquiring an additional 1,118,364 shares during the period. Hedge funds and other institutional investors own 86.84% of the company’s stock.
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LendingClub Company Profile
LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.
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