Schwab Charles Investment Management Inc. raised its stake in shares of Lendingtree Inc (NASDAQ:TREE) by 12.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,340 shares of the financial services provider’s stock after acquiring an additional 4,746 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.34% of Lendingtree worth $9,267,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in TREE. Victory Capital Management Inc. boosted its position in Lendingtree by 150.9% during the 2nd quarter. Victory Capital Management Inc. now owns 286,528 shares of the financial services provider’s stock valued at $61,259,000 after acquiring an additional 172,310 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its position in Lendingtree by 39.6% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 381,155 shares of the financial services provider’s stock valued at $81,491,000 after acquiring an additional 108,057 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Lendingtree by 38.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 377,933 shares of the financial services provider’s stock valued at $80,802,000 after acquiring an additional 104,835 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Lendingtree during the 2nd quarter valued at $21,380,000. Finally, Allianz Asset Management GmbH boosted its position in Lendingtree by 38.1% during the 1st quarter. Allianz Asset Management GmbH now owns 301,365 shares of the financial services provider’s stock valued at $98,893,000 after acquiring an additional 83,215 shares in the last quarter. 84.22% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on TREE shares. Royal Bank of Canada reaffirmed a “buy” rating on shares of Lendingtree in a research report on Friday, July 27th. Zacks Investment Research raised Lendingtree from a “hold” rating to a “buy” rating and set a $260.00 target price on the stock in a research report on Monday, July 16th. Deutsche Bank started coverage on Lendingtree in a research report on Wednesday, May 30th. They set a “hold” rating and a $290.00 target price on the stock. Deutsche Bank started coverage on Lendingtree in a research report on Wednesday, May 30th. They set a “hold” rating on the stock. Finally, BidaskClub upgraded Lendingtree from a “sell” rating to a “hold” rating in a report on Friday, June 8th. 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 company’s stock. Lendingtree currently has an average rating of “Hold” and an average price target of $328.18.
Shares of TREE opened at $226.05 on Tuesday. Lendingtree Inc has a 12 month low of $205.45 and a 12 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 firm has a market cap of $2.92 billion, a PE ratio of 74.85, a price-to-earnings-growth ratio of 1.50 and a beta of 2.07.
Lendingtree (NASDAQ:TREE) last issued its quarterly earnings data 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. Lendingtree had a return on equity of 12.09% and a net margin of 10.82%. The firm had revenue of $184.10 million during the quarter, compared to analyst estimates of $194.88 million. During the same quarter in the prior year, the business posted $0.90 EPS. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. analysts forecast that Lendingtree Inc will post 3.62 earnings per share for the current year.
In related news, CEO Douglas R. Lebda sold 14,750 shares of the firm’s stock in a transaction on Thursday, June 28th. The stock was sold at an average price of $209.83, for a total value of $3,094,992.50. Following the completion of the transaction, the chief executive officer now owns 534,354 shares in the company, valued at approximately $112,123,499.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter Horan sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $244.51, for a total value of $244,510.00. Following the completion of the transaction, the director now owns 24,015 shares of the company’s stock, valued at approximately $5,871,907.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,502 shares of company stock valued at $20,143,773. Company insiders own 20.50% of the company’s stock.
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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