Sunbelt Securities Inc. bought a new stake in shares of Lendingtree Inc (NASDAQ:TREE) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 1,136 shares of the financial services provider’s stock, valued at approximately $243,000.
Several other institutional investors have also made changes to their positions in TREE. ARP Americas LP acquired a new position in Lendingtree in the first quarter worth about $263,000. Polen Capital Management LLC raised its holdings in shares of Lendingtree by 42.5% during the first quarter. Polen Capital Management LLC now owns 949 shares of the financial services provider’s stock valued at $311,000 after buying an additional 283 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Lendingtree during the second quarter valued at approximately $203,000. Xact Kapitalforvaltning AB raised its holdings in Lendingtree by 43.7% during the first quarter. Xact Kapitalforvaltning AB now owns 986 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 300 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan bought a new stake in Lendingtree during the first quarter worth approximately $328,000. Institutional investors own 81.09% of the company’s stock.
Shares of Lendingtree stock opened at $230.25 on Monday. Lendingtree Inc has a twelve month low of $205.45 and a twelve month high of $404.40. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 76.24, a price-to-earnings-growth ratio of 1.62 and a beta of 1.78.
Lendingtree (NASDAQ:TREE) last issued its earnings results on Thursday, July 26th. The financial services provider reported $1.47 EPS for the quarter, beating the consensus estimate of $0.78 by $0.69. The company had revenue of $184.10 million during the quarter, compared to analysts’ expectations of $194.88 million. Lendingtree had a net margin of 10.82% and a return on equity of 12.09%. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 EPS. equities research analysts expect that Lendingtree Inc will post 3.62 EPS for the current fiscal year.
In other news, Director Peter Horan sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $244.51, for a total value of $244,510.00. Following the transaction, the director now owns 24,015 shares in the company, valued at approximately $5,871,907.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robin Henderson sold 270 shares of the business’s stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $269.00, for a total transaction of $72,630.00. Following the completion of the transaction, the director now owns 1,005 shares in the company, valued at approximately $270,345. The disclosure for this sale can be found here. Insiders have sold a total of 251,932 shares of company stock worth $62,266,006 over the last three months. Insiders own 20.50% of the company’s stock.
Several research analysts have issued reports on the company. Zacks Investment Research cut Lendingtree from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 1st. Deutsche Bank lowered their price target on shares of Lendingtree from $290.00 to $270.00 and set a “hold” rating on the stock in a report on Thursday. ValuEngine cut shares of Lendingtree from a “hold” rating to a “sell” rating in a report on Monday, July 30th. BidaskClub lowered shares of Lendingtree from a “hold” rating to a “sell” rating in a research note on Saturday, June 30th. Finally, SunTrust Banks reduced their price objective on shares of Lendingtree from $310.00 to $280.00 and set a “hold” rating for the company in a research note on Thursday, July 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $328.18.
Lendingtree Company Profile
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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