Vanguard Group Inc. reduced its holdings in LendingTree, Inc. (NASDAQ:TREE – Free Report) by 15.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The company owned 667,101 shares of the financial services provider after selling 118,162 shares during the period. Vanguard Group Inc. owned about 5.04% of LendingTree worth $28,245,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their holdings of TREE. Shenkman Capital Management Inc. increased its holdings in shares of LendingTree by 186.2% in the fourth quarter. Shenkman Capital Management Inc. now owns 343,440 shares of the financial services provider’s stock valued at $10,413,000 after purchasing an additional 223,440 shares in the last quarter. Alta Park Capital LP bought a new stake in shares of LendingTree in the fourth quarter valued at about $2,297,000. Susquehanna Fundamental Investments LLC increased its holdings in LendingTree by 185.2% in the first quarter. Susquehanna Fundamental Investments LLC now owns 19,850 shares of the financial services provider’s stock valued at $840,000 after purchasing an additional 12,889 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of LendingTree during the 4th quarter valued at about $1,240,000. Finally, Blue Grotto Capital LLC acquired a new stake in shares of LendingTree during the 4th quarter valued at about $4,930,000. 68.26% of the shares are owned by hedge funds and other institutional investors.
Upgrades and downgrades by analysts
TREE has been the subject of several analyst reports lately. Keefe, Bruyette & Woods raised their price target on LendingTree from $45.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Truist Financial raised their price target on LendingTree from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com downgraded LendingTree from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Oppenheimer raised their price target on LendingTree from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Finally, Stephens raised his price target on LendingTree from $55.00 to $65.00 and gave the stock an “Overweight” rating in a research note on Monday, July 29. Three analysts have rated the stock with a “Hold” rating and six have given it a “Buy” rating. The stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.13, according to data from MarketBeat.
Read our latest report on LendingTree
LendingTree share price development
NASDAQ:TREE shares opened at $43.15 on Friday. The company has a market cap of $575.62 million, a price-to-earnings ratio of -4.10 and a beta of 2.11. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.82 and a quick ratio of 1.82. The company has a 50-day moving average of $45.41 and a 200-day moving average of $41.43. LendingTree, Inc. has a one year low of $10.12 and a one year high of $59.00.
LendingTree (NASDAQ:TREE – Free Report) last released its quarterly earnings results on Thursday, July 25. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.19). LendingTree had a negative net margin of 19.02% and a negative return on equity of 2.98%. The company posted revenue of $210.10 million for the quarter, compared to the consensus estimate of $187.41 million. During the same period last year, the company reported earnings per share of $0.43. The company’s quarterly revenue grew 15.1% year-over-year. Research analysts forecast that LendingTree, Inc. will report earnings per share of -$0.52 for the current fiscal year.
Insider buying and selling at LendingTree
In other news, Director Steven Ozonian sold 1,610 shares of the company’s stock in a transaction that occurred on Friday, May 24. The shares were sold at an average price of $44.31, for a total value of $71,339.10. Following the completion of the sale, the director now directly owns 6,784 shares of the company’s stock, valued at approximately $300,599.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 23.40% of the shares are currently owned by company insiders.
About LendingTree
(Free report)
LendingTree, Inc., through its subsidiary, operates an online consumer platform in the United States. The company operates in three segments: Home, Consumer and Insurance. The Home segment offers purchase mortgages, refinance mortgages and home equity loans and lines of credit, as well as real estate brokerage services.
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