LendingTree, Inc. (TREE) Stake Lessened by Emerald Mutual Fund Advisers Trust
Emerald Mutual Fund Advisers Trust trimmed its position in LendingTree, Inc. (NASDAQ:TREE) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 298,039 shares of the financial services provider’s stock after selling 6,800 shares during the period. LendingTree accounts for 3.0% of Emerald Mutual Fund Advisers Trust’s portfolio, making the stock its biggest position. Emerald Mutual Fund Advisers Trust owned approximately 2.48% of LendingTree worth $72,856,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. grew its stake in LendingTree by 2,685.7% in the second quarter. Meeder Asset Management Inc. now owns 780 shares of the financial services provider’s stock worth $135,000 after purchasing an additional 752 shares during the period. Aperio Group LLC purchased a new stake in LendingTree in the third quarter worth $201,000. SG Americas Securities LLC purchased a new stake in LendingTree in the second quarter worth $148,000. Eastern Bank purchased a new stake in LendingTree in the third quarter worth $244,000. Finally, Seven Eight Capital LP purchased a new stake in LendingTree in the second quarter worth $207,000. 72.00% of the stock is currently owned by institutional investors.
Several equities research analysts recently weighed in on TREE shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price target (up from $250.00) on shares of LendingTree in a research note on Thursday, October 26th. Zacks Investment Research raised LendingTree from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. Bank of America Corporation increased their target price on LendingTree from $250.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, October 10th. BWS Financial downgraded LendingTree from a “buy” rating to a “sell” rating and set a $194.00 price target on the stock. in a report on Thursday, October 12th. Finally, Citigroup Inc. reaffirmed an “outperform” rating and set a $290.00 price target on shares of LendingTree in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. LendingTree has an average rating of “Buy” and an average price target of $247.08.
LendingTree (NASDAQ:TREE) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.20. The company had revenue of $171.50 million during the quarter, compared to analysts’ expectations of $157.97 million. LendingTree had a return on equity of 16.52% and a net margin of 5.49%. LendingTree’s quarterly revenue was up 81.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS.
In other LendingTree news, Director Peter Horan sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $264.08, for a total transaction of $924,280.00. Following the completion of the sale, the director now directly owns 31,494 shares in the company, valued at approximately $8,316,935.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President Neil Salvage sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $267.08, for a total value of $400,620.00. Following 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. Insiders sold a total of 23,850 shares of company stock valued at $5,815,873 in the last ninety days. 21.90% of the stock is currently owned by insiders.
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LendingTree Company Profile
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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