Acorn Financial Advisory Services Inc. ADV acquired a new interest in LendingTree, Inc. (NASDAQ:TREE – Free Report) during the first quarter, according to its recent filing with the Securities & Exchange Commission. The institutional investor bought 11,709 shares of the financial services provider, valued at around $312,000. Acorn Financial Advisory Services Inc. ADV owned about 0.09% of LendingTree at the end of the most recent quarter.
Other institutional investors have also recently increased or reduced their stakes in the company. Captrust Financial Advisors increased its stake in LendingTree shares by 59.1% during the second quarter. Captrust Financial Advisors now owns 719 shares of the financial services provider, valued at $32,000, after purchasing an additional 267 shares last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in LendingTree valued at approximately $34,000 in the fourth quarter. PNC Financial Services Group Inc. increased its position in LendingTree by 136.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,705 shares of the financial services provider, valued at $36,000, after buying an additional 984 shares last quarter. Point72 Middle East FZE purchased a new position in LendingTree stock worth $42,000 during the fourth quarter. Finally, Zürcher Kantonalbank increased its stake in LendingTree shares by 89.5% in the fourth quarter. Zurich Cantonal Bank Zurich Cantonal Bank now owns 2,287 shares of the financial services provider, valued at $49,000, after buying another 1,080 shares last quarter. 78.58% of the shares are currently owned by institutional investors and hedge funds.
LendingTree price history
NASDAQ TREE opened at $23.67 on Wednesday. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt to equity ratio of 2.71. LendingTree, Inc. has a yearly low of $16.02 and a yearly high of $51.94. The company has a 50-day simple moving average of $20.45 and a 200-day simple moving average of $26.53.
LendingTree (NASDAQ:TREE – Get Free Report) last released its earnings results on Tuesday, May 2nd. The financial services firm reported earnings per share ($0.62) for the quarter, beating the consensus estimate of $1.04 by $0.42. The company had revenue of $200.50 million for the quarter, compared to analyst estimates of $207.42 million. LendingTree had a negative return on equity of 16.17% and a negative net margin of 18.14%. Equity analysts are forecasting that LendingTree, Inc. will report year-to-date earnings per share of -1.95.
Analysts set new price targets
TREE has been the subject of several research analyst reports. Truist Financial lowered its price target on LendingTree to $27.00 from $42.00 in a report Wednesday, May 3. Northland Securities lowered its price target on LendingTree to $24.00 from $35.00 in a report Wednesday, May 3. Susquehanna lowered its price target on LendingTree shares to $17.00 from $36.00 in a report on Wednesday, May 3. StockNews.com assumed coverage of LendingTree’s stock in a research note on Thursday, May 18th. They assigned a “hold” rating to the company. Finally, on Thursday, March 30, Stephens renewed an “overweight” rating and issued a price target of $48.00 on shares of LendingTree in a research note. Three equities research analysts have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, LendingTree has a consensus rating of Moderate Buy and an average target price of $34.75.
Insiders place their bets
In addition, in a transaction dated Thursday, May 11, Director Mark A. Ernst acquired 10,000 shares of LendingTree. The stock was purchased at an average price of $18.28 per share for a total value of $182,800.00. Upon the completion of the acquisition, the director now owns 30,216 shares of the Company, valued at approximately $552,348.48. The transaction was disclosed in a document filed with the SEC, available at this hyperlink. 23.00% of the shares are owned by company insiders.
About LendingTree
(Free Report)
LendingTree, Inc, through its subsidiary LT Intermediate Company, LLC, operates an online consumer platform in the United States. The Company operates through three segments: Household, Consumer and Insurance. The Home segment offers purchase mortgages, refinance mortgages, reverse mortgages, and home equity loans; lines of credit; and real estate brokerage services.
Selected Stories
Want to see what other hedge funds are holding TREE? Visit HoldingsChannel.com for the latest 13F filings and insider trading for LendingTree, Inc. (NASDAQ:TREE – free report).
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