According to its most recent filing with the Securities and Exchange Commission (SEC), HighTower Advisors LLC increased its position in shares of LendingTree, Inc. (NASDAQ:TREE – get rating) by 17.9% during the fourth quarter. The institutional investor owned 157,352 shares of the financial services provider after purchasing an additional 23,865 shares during the quarter. HighTower Advisors LLC owned 1.23% of LendingTree worth $3,279,000 at the end of the most recent quarter.
Other institutional investors have also changed their holdings 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. Asset Management One Co.Ltd. increased its stake in LendingTree 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 buying an additional 720 shares last quarter. Zürcher Kantonalbank increased its stake in LendingTree 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. Point72 Hong Kong Ltd acquired a new interest in LendingTree valued at approximately $83,000 in Q2. Finally, the State of Kentucky’s Teachers Retirement System acquired a new interest in LendingTree in Q3 for approximately $84,000. Hedge funds and other institutional investors own 83.16% of the company’s shares.
Insider buying and selling at LendingTree
In related news, on Thursday, May 11, Director Mark A. Ernst acquired 10,000 shares of the company’s shares in a transaction. The shares were purchased at an average price of $18.28 per share for a total value of $182,800.00. Following the closing of the transaction, the director now directly owns 30,216 shares of the Company, valued at approximately $552,348.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed at this hyperlink. 17.90% of the shares are currently owned by company insiders.
Analysts set new price targets
A number of research companies have recently published reports on TREE. Susquehanna lowered her price target on LendingTree from $36.00 to $17.00 in a research note on Wednesday, May 3. Needham & Company LLC increased its price target on LendingTree to $45.00 from $32.00 and gave the company a buy rating in a report on Monday, February 27. Northland Securities lowered its price target on LendingTree to $24.00 from $35.00 in a report Wednesday, May 3. Oppenheimer raised its price target on LendingTree to $40.00 from $35.00 and gave the company a “outperform” rating in a report Tuesday, February 28. Finally, in a report Tuesday, February 28, Keefe, Bruyette & Woods raised its target price on LendingTree to $34.00 from $25.00 and gave the company a “market performance” rating. Three investment analysts have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, LendingTree has a consensus rating of Moderate Buy and an average target price of $34.75.
LendingTree stock down 0.6%
TREE stock opened at $19.60 on Monday. LendingTree, Inc. has a 52-week low of $16.02 and a 52-week high of $66.21. The company has a debt to equity ratio of 2.71, a short term ratio of 2.85 and a current ratio of 2.85. The company has a 50-day simple moving average of $23.01 and a 200-day simple moving average of $26.96.
LendingTree (NASDAQ:TREE – Get Rating) last released its quarterly earnings data on Monday, February 27th. The financial services firm reported earnings per share of $0.38 for the quarter, beating the consensus estimate of ($0.34) by $0.72. LendingTree had a negative return on equity of 16.17% and a negative net margin of 18.14%. 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 posted earnings per share of $1.23. The company’s revenue fell 21.8% compared to the prior-year quarter. As a group, analysts expect LendingTree, Inc. to report year-to-date earnings per share of -1.95.
LendingTree, Inc operates an online credit marketplace for consumers seeking credit and other credit-based offerings. The company operates through the following segments: Household, Consumer and Insurance. The Home segment includes purchase mortgages, refinance mortgages, home equity loans and lines of credit, and reverse mortgage loans and real estate.
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