Lendingtree (TREE) Earns “Buy” Rating from Northland Securities
Northland Securities restated their buy rating on shares of Lendingtree (NASDAQ:TREE) in a research note issued to investors on Thursday morning. The brokerage currently has a $340.00 target price on the financial services provider’s stock.
A number of other brokerages also recently issued reports on TREE. Zacks Investment Research downgraded Lendingtree from a hold rating to a sell rating in a report on Thursday, October 26th. Oppenheimer upped their price target on Lendingtree from $245.00 to $290.00 and gave the company an outperform rating in a report on Friday, October 27th. Stephens upped their price target on Lendingtree from $250.00 to $300.00 and gave the company an overweight rating in a report on Thursday, October 26th. Bank of America upped their price target on Lendingtree from $250.00 to $285.00 and gave the company a buy rating in a report on Tuesday, October 10th. Finally, Citigroup reaffirmed an outperform rating and set a $290.00 price target on shares of Lendingtree in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $272.31.
Lendingtree (TREE) traded up $9.65 during midday trading on Thursday, hitting $344.35. The stock had a trading volume of 627,881 shares, compared to its average volume of 222,421. The stock has a market capitalization of $4,121.53, a PE ratio of 104.67, a P/E/G ratio of 3.10 and a beta of 1.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.86 and a current ratio of 3.86. Lendingtree has a 52-week low of $96.20 and a 52-week high of $347.75.
In other Lendingtree news, President Neil Salvage sold 1,500 shares of the 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 transaction, the president now owns 12,907 shares of the company’s stock, valued at $3,447,201.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas R. Lebda sold 8,000 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $320.11, for a total value of $2,560,880.00. Following the completion of the transaction, the chief executive officer now directly owns 397,218 shares in the company, valued at approximately $127,153,453.98. The disclosure for this sale can be found here. In the last three months, insiders sold 105,374 shares of company stock worth $29,625,166. 21.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of TREE. Invictus RG bought a new position in Lendingtree in the third quarter valued at about $104,000. Advisor Group Inc. lifted its holdings in Lendingtree by 61.7% in the third quarter. Advisor Group Inc. now owns 527 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 201 shares during the period. SG Americas Securities LLC bought a new position in Lendingtree in the second quarter valued at about $148,000. Aperio Group LLC bought a new position in Lendingtree in the third quarter valued at about $201,000. Finally, Seven Eight Capital LP bought a new position in Lendingtree in the second quarter valued at about $207,000. 72.11% of the stock is currently owned by institutional investors.
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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