Assenagon Asset Management SA cut its position in shares of LendingTree, Inc. (NASDAQ:TREE – Get Rating) by 14.2% in the fourth quarter, the company said in its recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,627 shares of the financial services provider after selling 30,991 shares during the period. Assenagon Asset Management SA owned 1.47% of LendingTree valued at $4,002,000 at the time of its last SEC filing.
→ Urgent warning (From Weiss Ratings)
Several other hedge funds have also recently bought and sold shares in the company. Captrust Financial Advisors increased its stake in LendingTree 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. Asset Management One Co.Ltd. increased its holdings in LendingTree stock by 69.4% in the third quarter. Asset Management One Co.Ltd. now owns 1,757 shares of the financial services firm, valued at $41,000, after purchasing an additional 720 shares last quarter. Money Concepts Capital Corp increased its holdings in LendingTree stock by 23.6% during the third quarter. Money Concepts Capital Corp now owns 2,656 shares of the financial services provider, valued at $63,000, after purchasing an additional 508 shares last quarter. Point72 Hong Kong Ltd acquired a new stake in LendingTree stock valued at approximately $83,000 during the second quarter. Finally, the Kentucky State’s Teachers Retirement System acquired a new stake in LendingTree stock valued at approximately $84,000 during the third quarter. Hedge funds and other institutional investors own 83.16% of the company’s shares.
Wall Street analyst ponders
A number of research companies have recently commented on TREE. Susquehanna downgraded shares of LendingTree from a “positive” rating to a “neutral” rating and lowered the price target for the company to $36.00 from $46.00 in a report on Tuesday, February 28. StockNews.com began coverage of shares of LendingTree in a report on Thursday, March 16th. They give the company a “hold” rating. Bank of America lowered its price target on LendingTree shares to $43.00 from $53.00 and gave the company a “buy” rating in a report on Tuesday, February 28. Keefe, Bruyette & Woods raised their target price on LendingTree shares to $34.00 from $25.00 and gave the company a “market perform” rating in a report Tuesday, February 28. Finally, Needham & Company LLC increased its price target on LendingTree shares to $45.00 from $32.00 and gave the company a buy rating in a report on Monday, February 27. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.25.
LendingTree stock up 0.8%
NASDAQ TREE shares opened at $25.80 on Friday. The company has a current ratio of 5.02, a quick ratio of 5.02 and a debt to equity ratio of 3.91. LendingTree, Inc. has a 12-month low of $17.59 and a 12-month high of $129.30. The company has a market cap of $330.50 million, a PE ratio of -1.75 and a beta of 1.93. The company has a 50-day simple moving average of $34.97 and a 200-day simple moving average of $28.07.
LendingTree (NASDAQ:TREE – Get Rating) last released its quarterly earnings data on Monday, February 27th. The financial services firm reported $0.38 per share for the quarter, beating the consensus estimate of ($0.34) by $0.72. LendingTree had a negative net margin of 19.08% and a negative return on equity of 14.55%. The company had revenue of $202.10 million for the quarter, compared to analyst estimates of $208.13 million. For the same period last year, the company generated ($1.23) EPS. The company’s revenue fell 21.8% year over year in the quarter. Equities analysts expect LendingTree, Inc. to report year-to-date earnings per share of -3.02.
Insider Transactions at LendingTree
In other LendingTree news, CEO Douglas R. Lebda purchased 18,268 shares of LendingTree stock in a transaction on Monday, January 30th. Shares were purchased at an average price of $38.63 per share for a total value of $705,692.84. Following the transaction, the Chief Executive Officer now directly owns 214,859 shares of the Company, valued at $8,300,003.17. The acquisition was disclosed in a legal filing with the SEC, which can be accessed at this hyperlink. In other LendingTree news, CEO Douglas R. Lebda purchased 65,062 shares of LendingTree stock in a transaction on Monday, January 23rd. Shares were purchased at an average price of $32.03 per share for a total value of $2,083,935.86. Following the transaction, the Chief Executive Officer now directly owns 65,062 shares of the Company, valued at $2,083,935.86. The acquisition was disclosed in a legal filing with the SEC, which can be accessed at this hyperlink. In addition, CEO Douglas R. Lebda purchased 18,268 shares of LendingTree in a transaction on Monday, January 30th. The stock was acquired at an average price of $38.63 per share for a total transaction of $705,692.84. Upon completion of the transaction, the Chief Executive Officer now directly owns 214,859 shares of the Company, valued at $8,300,003.17. The disclosure for this purchase can be found here. Insiders own 17.90% of the company’s shares.
LendingTree Company Profile
(received rating)
LendingTree, Inc operates an online credit marketplace for consumers seeking credit and other credit-based offerings. It operates through the following segments: Household, Consumer and Insurance. The Home segment refers to purchase mortgages, refinance mortgages, home equity loans and lines of credit, and reverse mortgage loans and real estate.
Selected items
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