While shares in digital bank LendingClub (NYSE: LC) have been a bit of a dog, some people see value in the future of the company. One big investor recently added shares to its holding. BlackRock recently filed an Amended Statement of Ownership showing an increase from the previous filing.
According to the 13G published today on the SEC’s Edgar site, BlackRock now owns 9,455,387 shares in LendingClub, or 8.6% of the company.
The last filing from the end of 2022 indicates that BlackRock owned 8,188,147 shares or 7.8% of the company.
LendingClub, once the darling of the Fintech community, went public in 2014 at $15 a share. Today, it trades around $8.80 a share, above its 52-week low of $4.72 a share but off its 52-week high. And when you take into consideration the reverse stock split LendingClub endured, it’s been a bumpy road all the way down for the Fintech and its shareholders.
So, what does BlackRock’s growing investment in LendingClub mean? Little, really, except they see some value there and a potential for shares to increase, at least from where they are now.
