Monday, March 05, 2018 10:15 PM ET
Lending Club (LC) Insiders Make Significant Share purchases Continuing the Trend of Last 90 Days
There were substantial insider purchases of Lending Club shares today, as shown in filings with the SEC as four insiders — Denman, Ciporin, Morris, and Chen — acquired 12,551,254 shares in the company having a net market value of approximately $45,527,283. There have been 2 insiders with buy/sell transactions in the past 90 days prior to this filing. All of these trades have been buys resulting in the acquisition of 27,623,881 company shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net purchases of 40,175,135 shares and have averaged 6,695,856 shares per transaction over this time period.
Insider buy/sell trading at Lending Club is higher than the 21 peer company average over the last 90-day period. The Consumer Lending peer group saw 46 buy/sell trades during this period for an average of 2.2 transactions per company. The number of shares per buy/sell trade for Lending Club insiders was also higher. Within the peer group there were 27,634,842 shares purchased and 407,006 shares sold with company insiders purchasing 1,183,819 shares on average.
In order to focus on significant insider buying and selling activity, 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 has been eliminated data used to evaluate and write this story.
Today’s Insider Activity
* Kenneth D Denman, Director, bought 30,000 shares
* Daniel T Ciporin, Director, bought 10,000 shares
* John C Morris, Director, bought 10,000 shares
* Tian Qiao Chen, 10% Owner, bought 12,501,254 shares
Using proprietary Natural Language Generation (NLG) technology, UpTick evaluates corporate insider filings reported to the SEC and creates real-time news and analysis to report the most significant insider transactions based on transaction type, size and historical trends.
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