Ontario Teachers Pension Plan Board bought a new position in Lendingtree Inc (NASDAQ:TREE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,653 shares of the financial services provider’s stock, valued at approximately $1,209,000.
A number of other hedge funds and other institutional investors have also modified their holdings of TREE. 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 shares of Lendingtree by 43.7% during the first quarter. Xact Kapitalforvaltning AB now owns 986 shares of the financial services provider’s stock valued at $324,000 after buying an additional 300 shares during the last quarter. Bfsg LLC bought a new stake in shares of Lendingtree during the first quarter valued at approximately $331,000. Finally, Alps Advisors Inc. bought a new stake in shares of Lendingtree during the second quarter valued at approximately $235,000. 84.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:TREE opened at $253.55 on Thursday. Lendingtree Inc has a 12 month low of $205.45 and a 12 month high of $404.40. The company has a market cap of $3.25 billion, a P/E ratio of 90.16, a PEG ratio of 1.67 and a beta of 2.07. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.70.
Lendingtree (NASDAQ:TREE) last announced its earnings results on Thursday, July 26th. The financial services provider reported $1.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.69. Lendingtree had a return on equity of 12.09% and a net margin of 10.82%. The firm had revenue of $184.10 million for the quarter, compared to analysts’ expectations of $194.88 million. During the same quarter in the previous year, the company earned $0.90 earnings per share. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. analysts anticipate that Lendingtree Inc will post 3.62 earnings per share for the current fiscal year.
TREE has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed a “buy” rating on shares of Lendingtree in a report on Friday, July 27th. Zacks Investment Research raised Lendingtree from a “hold” rating to a “buy” rating and set a $260.00 price target on the stock in a report on Monday, July 16th. Deutsche Bank initiated coverage on Lendingtree in a report on Wednesday, May 30th. They set a “hold” rating and a $290.00 price target on the stock. Deutsche Bank initiated coverage on Lendingtree in a report on Wednesday, May 30th. They set a “hold” rating on the stock. Finally, BidaskClub raised Lendingtree from a “sell” rating to a “hold” rating in a report on Friday, June 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $328.18.
In other news, Director Gci Liberty, Inc. bought 220,000 shares of the company’s stock in a transaction that occurred on Friday, July 6th. The shares were purchased at an average price of $213.99 per share, with a total value of $47,077,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas R. Lebda sold 14,750 shares of the business’s stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $279.30, for a total value of $4,119,675.00. Following the sale, the chief executive officer now directly owns 534,354 shares in the company, valued at approximately $149,245,072.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 163,252 shares of company stock worth $38,823,910. 20.50% of the stock is owned by corporate insiders.
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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