Rhumbline Advisers decreased its position in LendingTree (NASDAQ:TREE) by 13.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,988 shares of the financial services provider’s stock after selling 2,252 shares during the period. Rhumbline Advisers’ holdings in LendingTree were worth $4,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Public Employees Retirement Association of Colorado purchased a new position in LendingTree in the 4th quarter worth $153,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in LendingTree by 34.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 639 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 165 shares during the last quarter. Polen Capital Management LLC purchased a new position in LendingTree in the 4th quarter worth $227,000. Xact Kapitalforvaltning AB purchased a new position in LendingTree in the 4th quarter worth $234,000. Finally, Shelton Capital Management purchased a new position in LendingTree in the 4th quarter worth $244,000. Institutional investors own 78.55% of the company’s stock.
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Shares of LendingTree stock opened at $259.85 on Friday. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.73. LendingTree has a twelve month low of $154.60 and a twelve month high of $404.40. The stock has a market capitalization of $3.40 billion, a P/E ratio of 86.04, a price-to-earnings-growth ratio of 2.09 and a beta of 1.77.
LendingTree (NASDAQ:TREE) last announced its quarterly earnings results on Thursday, April 26th. The financial services provider reported $1.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.02). LendingTree had a net margin of 6.04% and a return on equity of 11.81%. The business had revenue of $181.00 million during the quarter, compared to analysts’ expectations of $174.13 million. During the same quarter in the prior year, the firm earned $0.85 EPS. LendingTree’s revenue for the quarter was up 36.6% on a year-over-year basis. analysts forecast that LendingTree will post 3.37 earnings per share for the current fiscal year.
LendingTree declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 22nd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other LendingTree news, Director G Kennedy Thompson purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, April 27th. The stock was purchased at an average price of $248.13 per share, for a total transaction of $248,130.00. Following the purchase, the director now directly owns 11,252 shares in the company, valued at $2,791,958.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven Ozonian sold 500 shares of LendingTree stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $360.00, for a total value of $180,000.00. Following the completion of the transaction, the director now owns 8,879 shares of the company’s stock, valued at approximately $3,196,440. The disclosure for this sale can be found here. In the last 90 days, insiders sold 232,047 shares of company stock valued at $68,655,060. 20.50% of the stock is owned by company insiders.
TREE has been the subject of a number of recent research reports. SunTrust Banks reduced their price objective on LendingTree to $310.00 and set a “hold” rating for the company in a research note on Friday, April 27th. BidaskClub upgraded LendingTree from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 17th. Stephens lifted their price objective on LendingTree from $385.00 to $420.00 and gave the company an “overweight” rating in a research note on Monday, March 19th. They noted that the move was a valuation call. ValuEngine lowered LendingTree from a “hold” rating to a “sell” rating in a research note on Friday, April 27th. Finally, Oppenheimer lifted their price objective on LendingTree from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $339.57.
LendingTree Company Profile
LendingTree, Inc, through its subsidiary, LendingTree, LLC, operates an online loan marketplace for consumers seeking loans and other credit-based offerings in the United States. Its mortgage products comprise purchase and refinance products. The company also provides information, tools, and access to various conditional loan offers for non-mortgage products, including auto loans, credit cards, home equity loans, personal loans, reverse mortgages, small business loans, and student loans.
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