LendingTree, Inc. $TREE Stake Boosted by Jennison Associates LLC

Jennison Associates LLC boosted its holdings in LendingTree, Inc. (NASDAQ:TREE) by 74.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,020,211 shares of the financial services provider’s stock after purchasing an additional 434,038 shares during the quarter. Jennison Associates LLC owned approximately 0.07% of LendingTree worth $43,747,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TREE. Ameriprise Financial Inc. raised its holdings in shares of LendingTree by 1,747.8% during the second quarter. Ameriprise Financial Inc. now owns 546,536 shares of the financial services provider’s stock worth $20,260,000 after purchasing an additional 516,958 shares during the period. Mariner LLC boosted its holdings in shares of LendingTree by 31.5% in the 4th quarter. Mariner LLC now owns 1,760,407 shares of the financial services provider’s stock valued at $93,461,000 after buying an additional 421,826 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of LendingTree by 1,163.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 263,835 shares of the financial services provider’s stock valued at $17,078,000 after buying an additional 242,947 shares during the period. Blue Grotto Capital LLC grew its position in shares of LendingTree by 64.3% during the 4th quarter. Blue Grotto Capital LLC now owns 584,931 shares of the financial services provider’s stock valued at $31,054,000 after buying an additional 228,858 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. grew its position in shares of LendingTree by 35.1% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 469,647 shares of the financial services provider’s stock valued at $24,934,000 after buying an additional 121,993 shares during the last quarter. Institutional investors own 68.26% of the company’s stock.

Analyst Upgrades and Downgrades

TREE has been the topic of several research reports. Truist Financial set a $78.00 price objective on shares of LendingTree in a research note on Friday, May 1st. Wall Street Zen lowered LendingTree from a “strong-buy” rating to a “buy” rating in a report on Monday. JPMorgan Chase & Co. started coverage on LendingTree in a research report on Tuesday, April 14th. They set an “overweight” rating and a $50.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of LendingTree in a report on Friday, May 1st. Finally, Zacks Research lowered LendingTree from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.20.

LendingTree Trading Down 4.6%

Shares of NASDAQ:TREE opened at $44.13 on Tuesday. The company has a market cap of $615.61 million, a PE ratio of 3.43 and a beta of 2.00. The company’s 50-day moving average price is $39.71 and its 200 day moving average price is $44.45. LendingTree, Inc. has a fifty-two week low of $32.65 and a fifty-two week high of $77.35. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 1.27.

LendingTree (NASDAQ:TREE) last posted its earnings results on Thursday, April 30th. The financial services provider reported $1.38 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.11). LendingTree had a return on equity of 17.01% and a net margin of 15.02%.The firm had revenue of $319.07 million during the quarter, compared to the consensus estimate of $321.32 million. During the same quarter last year, the company posted $0.99 EPS. LendingTree’s revenue for the quarter was up 36.5% on a year-over-year basis. Sell-side analysts anticipate that LendingTree, Inc. will post 3.64 earnings per share for the current year.

LendingTree Profile

LendingTree, Inc operates an online marketplace that connects consumers with a network of lenders and financial service providers. Through its platform, borrowers can compare loan offers for mortgages, home equity loans, personal loans, student loans, auto loans and small business financing. The company also offers tools for comparing credit cards and deposit accounts, allowing users to research rates and terms from a range of providers in one place.

Founded in 1996 by Doug Lebda, LendingTree pioneered the comparison-shopping model for consumer credit products.