Cortina Asset Management LLC lowered its position in shares of LendingTree, Inc. (NASDAQ:TREE) by 17.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,641 shares of the financial services provider’s stock after selling 6,619 shares during the quarter. Cortina Asset Management LLC owned about 0.26% of LendingTree worth $7,735,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in TREE. BlackRock Inc. raised its position in shares of LendingTree by 117,777.8% during the 1st quarter. BlackRock Inc. now owns 823,966 shares of the financial services provider’s stock worth $103,284,000 after purchasing an additional 823,267 shares during the period. Vanguard Group Inc. raised its position in shares of LendingTree by 45.6% during the 2nd quarter. Vanguard Group Inc. now owns 536,197 shares of the financial services provider’s stock worth $92,333,000 after purchasing an additional 167,933 shares during the period. Baillie Gifford & Co. raised its position in shares of LendingTree by 3.2% during the 3rd quarter. Baillie Gifford & Co. now owns 346,828 shares of the financial services provider’s stock worth $84,782,000 after purchasing an additional 10,657 shares during the period. Dimensional Fund Advisors LP increased its position in LendingTree by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 316,069 shares of the financial services provider’s stock valued at $54,428,000 after acquiring an additional 18,678 shares during the period. Finally, Emerald Advisers Inc. PA increased its position in LendingTree by 3.4% in the 2nd quarter. Emerald Advisers Inc. PA now owns 287,861 shares of the financial services provider’s stock valued at $49,570,000 after acquiring an additional 9,580 shares during the period. Hedge funds and other institutional investors own 72.11% of the company’s stock.
In other news, CAO Carla Shumate sold 2,414 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $275.00, for a total value of $663,850.00. Following the sale, the chief accounting officer now directly owns 4,841 shares of the company’s stock, valued at $1,331,275. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Douglas R. Lebda sold 4,000 shares of LendingTree stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $236.51, for a total value of $946,040.00. Following the sale, the chief executive officer now directly owns 489,408 shares in the company, valued at $115,749,886.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,374 shares of company stock worth $24,608,606. 21.90% of the stock is currently owned by company insiders.
Several analysts recently commented on TREE shares. Zacks Investment Research cut LendingTree from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Oppenheimer increased their price target on LendingTree from $245.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Stephens increased their price target on LendingTree from $250.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, October 26th. Bank of America increased their price target on LendingTree from $250.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, October 10th. Finally, Citigroup reissued an “outperform” rating and set a $290.00 price objective on shares of LendingTree in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. LendingTree has an average rating of “Buy” and an average price target of $251.25.
Shares of LendingTree, Inc. (NASDAQ:TREE) traded up $4.35 during trading hours on Thursday, hitting $311.25. The company had a trading volume of 125,279 shares, compared to its average volume of 191,925. LendingTree, Inc. has a twelve month low of $96.20 and a twelve month high of $316.60. The company has a current ratio of 3.86, a quick ratio of 3.86 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $3,652.88, a price-to-earnings ratio of 92.77, a price-to-earnings-growth ratio of 2.74 and a beta of 1.54.
LendingTree (NASDAQ:TREE) last posted its earnings results on Thursday, October 26th. The financial services provider reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.20. LendingTree had a return on equity of 16.52% and a net margin of 5.49%. The company had revenue of $171.50 million for the quarter, compared to analyst estimates of $157.97 million. During the same period last year, the company earned $0.80 earnings per share. The business’s revenue was up 81.3% compared to the same quarter last year. sell-side analysts anticipate that LendingTree, Inc. will post 3.06 earnings per share for the current fiscal year.
LendingTree Company Profile
LendingTree, Inc (LendingTree) is engaged in operating an online loan marketplace for consumers seeking loans and other credit-based offerings. The Company’s online marketplace provides consumers with access to product offerings from various lenders, which it refers to as Network Lenders, including mortgage loans, home equity loans and lines of credit, reverse mortgage loans, auto loans, credit cards, personal loans, student loans, small business loans and other related offerings.
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