Royce & Associates LP reduced its stake in LendingTree, Inc. (NASDAQ: TREE – Get a rating) by 21.0% in the first quarter, according to the company in its latest 13F filing with the SEC. The fund held 19,000 shares of the financial services provider after selling 5,050 shares during the quarter. Royce & Associates LP owned 0.15% of LendingTree worth $2,274,000 at the end of the last quarter.
A number of other hedge funds also bought and sold shares of TREE. Bouvel Investment Partners LLC increased its stake in LendingTree shares by 1.7% during the 1st quarter. Bouvel Investment Partners LLC now owns 6,064 shares of the financial services provider valued at $726,000 after purchasing an additional 104 shares during the period. AlphaCrest Capital Management LLC increased its stake in LendingTree shares by 8.5% during the 4th quarter. AlphaCrest Capital Management LLC now owns 1,839 shares of the financial services provider valued at $225,000 after purchasing an additional 144 shares during the period. Teacher Retirement System of Texas increased its stake in LendingTree shares by 22.8% during the 4th quarter. Teacher Retirement System of Texas now owns 2,328 shares of the financial services provider valued at $285,000 after purchasing an additional 432 shares during the period. Signaturefd LLC increased its stake in LendingTree shares by 4,176.9% during Q1. Signaturefd LLC now owns 556 shares of the financial services provider valued at $67,000 after purchasing an additional 543 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in LendingTree shares by 15.1% during the 4th quarter. The Oregon Public Employees Retirement Fund now owns 4,410 shares of the financial services provider valued at $541,000 after purchasing an additional 578 shares during the period. Hedge funds and other institutional investors own 86.31% of the company’s shares.
Wall Street analysts predict growth
TREE has been the subject of a number of recent research reports. Truist Financial reduced its price target on LendingTree from $185.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, June 24. William Blair reiterated an “outperforming” rating on LendingTree shares in a Friday, June 3 research note. Susquehanna Bancshares lowered its price target on LendingTree from $180.00 to $160.00 in a Friday May 6 research note. Susquehanna reduced its price target on LendingTree from $180.00 to $160.00 in a Friday May 6 research note. Finally, Needham & Company LLC reduced its price target on LendingTree from $62.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, July 29. Three analysts gave the stock a hold rating and five gave the company a buy rating. According to data from MarketBeat, LendingTree currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.50.
Insider Trading at LendingTree
Separately, director Mark A. Ernst acquired 10,000 shares of the company in a transaction dated Monday, May 9. The shares were acquired at an average cost of $65.67 per share, with a total value of $656,700.00. Following the acquisition, the director now directly owns 10,000 shares of the company, valued at $656,700. The transaction was disclosed in an SEC filing, available at this link. Insiders hold 17.90% of the shares of the company.
LendingTree is trading down 1.2%
TREE wood opened at $43.21 on Friday. LendingTree, Inc. has a 1-year low of $40.82 and a 1-year high of $189.55. The company has a debt ratio of 2.32, a current ratio of 4.01 and a quick ratio of 1.18. The company has a market cap of $551.62 million, a price-earnings ratio of 25.12, and a beta of 1.65. The company has a 50-day simple moving average of $50.34 and a two-hundred-day simple moving average of $84.11.
Loan Tree (NASDAQ: TREE – Get a rating) last released its quarterly results on Thursday, May 5. The financial services provider reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($1.02) by $0.40. The company posted revenue of $283.18 million in the quarter, compared to a consensus estimate of $283.65 million. LendingTree had a negative return on equity of 9.08% and a net margin of 2.23%. The company’s revenue for the quarter increased by 3.8% compared to the same quarter last year. During the same period of the previous year, the company posted EPS of $0.18. Research analysts expect LendingTree, Inc. to post -4.76 EPS for the current fiscal year.
Profile of LendingTree
LendingTree, Inc, through its subsidiary, LT Intermediate Company, LLC, operates an online consumer platform in the United States. It operates through three segments: Home, Consumer and Insurance. The Home segment offers purchase mortgages, mortgage refinances, reverse mortgages and home equity loans; Lines of credit; and real estate brokerage services.
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