Monday, December 11, 2017 10:15 PM ET
Significant Insider purchase of Lending Club (LC) Shares Extends the Buying Trend of Last Quarter
There was substantial buying activity in Lending Club shares by an insider today, as revealed in a form 4 document filed with the SEC. One insider — Tian Qiao Chen, 10% Owner — acquired 4,000,000 shares in the company having a market value of approximately $15,193,950. There have been 4 insiders with buy/sell transactions in the past 90 days prior to this filing. These trades have resulted in the purchase of 114,700 company shares and the disposition of 25,000 company shares over this time period. Adding the most recent activity to this 90-day history indicates insider trades have been net purchases of 4,089,700 shares and have averaged 827,940 shares per transaction over this time period.
Lending Club insider trading represents a higher number of buy/sell trades than for the 21 peer company average over the last 90-day period. The Consumer Lending peer group saw 44 buy/sell trades during this period for an average of 2.1 transactions per company. The number of shares per buy/sell trade for Lending Club insiders was also higher. Within the peer group there were 132,700 shares purchased and 396,996 shares sold with company insiders selling 6,007 shares on average.
The data sourced in creating and writing in this story eliminates all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers.
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