LendingTree, Inc. (TREE) Holdings Cut by Cambridge Investment Research Advisors Inc.
Cambridge Investment Research Advisors Inc. reduced its stake in shares of LendingTree, Inc. (NASDAQ:TREE) by 27.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,767 shares of the financial services provider’s stock after selling 1,036 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in LendingTree were worth $676,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. acquired a new position in LendingTree during the third quarter worth $1,060,000. First Trust Advisors LP raised its stake in LendingTree by 64.8% during the second quarter. First Trust Advisors LP now owns 18,394 shares of the financial services provider’s stock worth $3,167,000 after acquiring an additional 7,232 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in LendingTree by 5.6% during the second quarter. Municipal Employees Retirement System of Michigan now owns 1,710 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 90 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in LendingTree by 3.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 31,573 shares of the financial services provider’s stock worth $5,437,000 after acquiring an additional 918 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in LendingTree by 4.1% during the second quarter. Great West Life Assurance Co. Can now owns 10,572 shares of the financial services provider’s stock worth $1,819,000 after acquiring an additional 412 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.
Shares of LendingTree, Inc. (NASDAQ:TREE) opened at $301.00 on Friday. The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $3,569.10, a PE ratio of 90.64, a P/E/G ratio of 3.04 and a beta of 1.51. LendingTree, Inc. has a 12-month low of $96.20 and a 12-month high of $304.50.
LendingTree (NASDAQ:TREE) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.20. The firm had revenue of $171.50 million during the quarter, compared to analyst estimates of $157.97 million. LendingTree had a return on equity of 16.52% and a net margin of 5.49%. The company’s revenue was up 81.3% on a year-over-year basis. During the same period last year, the company earned $0.80 earnings per share. analysts anticipate that LendingTree, Inc. will post 3.06 EPS for the current year.
In related news, CEO Douglas R. Lebda sold 16,000 shares of LendingTree stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $275.00, for a total value of $4,400,000.00. Following the completion of the sale, the chief executive officer now directly owns 453,418 shares in the company, valued at $124,689,950. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Neil Salvage sold 1,500 shares of LendingTree stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $267.08, for a total value of $400,620.00. Following the completion of the sale, the president now owns 12,907 shares of the company’s stock, valued at $3,447,201.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,374 shares of company stock valued at $17,375,446. Corporate insiders own 21.90% of the company’s stock.
Several research analysts have issued reports on TREE shares. Northland Securities reiterated a “buy” rating and set a $280.00 price objective on shares of LendingTree in a research note on Thursday, October 26th. Needham & Company LLC restated a “buy” rating and issued a $300.00 target price (up from $250.00) on shares of LendingTree in a research note on Thursday, October 26th. Bank of America Corporation raised their target price on LendingTree from $250.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, October 10th. Zacks Investment Research upgraded LendingTree from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. Finally, Oppenheimer Holdings, Inc. raised their target price on LendingTree from $245.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $247.08.
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LendingTree, Inc (LendingTree) is engaged in operating an online loan marketplace for consumers seeking loans and other credit-based offerings. The Company’s online marketplace provides consumers with access to product offerings from various lenders, which it refers to as Network Lenders, including mortgage loans, home equity loans and lines of credit, reverse mortgage loans, auto loans, credit cards, personal loans, student loans, small business loans and other related offerings.
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