NEW YORK (TheStreet) -- Shares of LendingClub (LC - Get Report) are up 3.49% to $5.04 in late-morning trading on Monday after private investment firm Shanda Group increased its stake in the online lender to 15.1%, according to an SEC filing.
Nearly a month ago, Shanda disclosed that it had accumulated a 11.7% stake in LendingClub, the Wall Street Journal reports. Shanda is the San Francisco-based company's largest shareholder.
The stock has tumbled since LendingClub founder and former CEO Renaud Laplanche was forced to resign last month.
Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D-.
LendingClub's weaknesses include its generally disappointing historical performance in the stock itself and generally high debt management risk.
You can view the full analysis from the report here: LC
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.