Lendingtree (NASDAQ:TREE) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday, March 17th.
TREE has been the topic of a number of other reports. Bank of America reaffirmed a “buy” rating and set a $425.00 price target on shares of Lendingtree in a research note on Tuesday, January 23rd. SunTrust Banks assumed coverage on Lendingtree in a report on Tuesday, January 23rd. They set a “hold” rating for the company. Oppenheimer upped their target price on Lendingtree from $340.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, December 14th. Guggenheim set a $360.00 target price on Lendingtree and gave the company a “buy” rating in a report on Thursday, December 14th. Finally, Northland Securities reiterated a “buy” rating and issued a $340.00 price objective on shares of Lendingtree in a research note on Thursday, December 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. Lendingtree has a consensus rating of “Buy” and an average target price of $327.33.
Shares of TREE traded down $0.20 during midday trading on Friday, hitting $318.00. The company’s stock had a trading volume of 144,922 shares, compared to its average volume of 218,072. The firm has a market cap of $3,950.45, a price-to-earnings ratio of 105.30, a PEG ratio of 1.93 and a beta of 1.73. Lendingtree has a one year low of $116.70 and a one year high of $404.40. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.97 and a current ratio of 2.97.
Lendingtree (NASDAQ:TREE) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.06). The company had revenue of $161.00 million for the quarter, compared to analyst estimates of $150.25 million. Lendingtree had a return on equity of 14.67% and a net margin of 2.52%. The firm’s quarterly revenue was up 59.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 earnings per share. research analysts forecast that Lendingtree will post 4.11 EPS for the current fiscal year.
Lendingtree announced that its board has initiated a stock buyback program on Thursday, February 22nd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Carla Shumate sold 4,800 shares of Lendingtree stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $343.72, for a total transaction of $1,649,856.00. Following the completion of the transaction, the insider now directly owns 7,227 shares in the company, valued at $2,484,064.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas R. Lebda sold 14,750 shares of Lendingtree stock in a transaction that occurred on Tuesday, April 10th. The shares were sold at an average price of $323.38, for a total transaction of $4,769,855.00. Following the transaction, the chief executive officer now owns 502,778 shares of the company’s stock, valued at $162,588,349.64. The disclosure for this sale can be found here. Insiders sold 117,904 shares of company stock worth $39,465,087 over the last three months. 21.90% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Invictus RG bought a new stake in shares of Lendingtree during the third quarter valued at approximately $104,000. Public Employees Retirement Association of Colorado bought a new stake in Lendingtree in the 4th quarter worth approximately $153,000. Advisor Group Inc. grew its position in Lendingtree by 61.7% in the 3rd quarter. Advisor Group Inc. now owns 527 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 201 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Lendingtree by 34.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 639 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 165 shares during the period. Finally, Polen Capital Management LLC bought a new stake in Lendingtree in the 4th quarter worth approximately $227,000. 77.01% of the stock is owned by institutional investors.
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LendingTree, Inc, through its subsidiary, LendingTree, LLC, operates an online loan marketplace for consumers seeking loans and other credit-based offerings in the United States. Its mortgage products comprise purchase and refinance products. The company also provides information, tools, and access to various conditional loan offers for non-mortgage products, including auto loans, credit cards, home equity loans, personal loans, reverse mortgages, small business loans, and student loans.
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