LendingTree (TREE) Raised to Strong-Buy at BidaskClub
LendingTree (NASDAQ:TREE) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Friday.
Several other equities analysts also recently issued reports on the stock. Northland Securities reissued a “buy” rating and set a $340.00 price target on shares of LendingTree in a report on Thursday. Needham & Company LLC boosted their price target on shares of LendingTree from $300.00 to $375.00 and gave the company a “buy” rating in a report on Thursday. Oppenheimer upped their price objective on shares of LendingTree from $340.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday. Zacks Investment Research raised shares of LendingTree from a “sell” rating to a “strong-buy” rating and set a $308.00 price objective for the company in a report on Thursday, November 2nd. Finally, Citigroup reaffirmed an “outperform” rating and issued a $290.00 price objective on shares of LendingTree in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $265.00.
LendingTree (NASDAQ:TREE) opened at $334.70 on Friday. LendingTree has a 1-year low of $96.20 and a 1-year high of $340.05. The stock has a market cap of $3,742.04, a price-to-earnings ratio of 95.03, a PEG ratio of 2.81 and a beta of 1.54. The company has a current ratio of 3.86, a quick ratio of 3.86 and a debt-to-equity ratio of 0.78.
LendingTree (NASDAQ:TREE) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.20. LendingTree had a net margin of 5.49% and a return on equity of 16.52%. The company had revenue of $171.50 million during the quarter, compared to the consensus estimate of $157.97 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was up 81.3% compared to the same quarter last year. sell-side analysts expect that LendingTree will post 3.06 EPS for the current year.
In other LendingTree news, CAO Carla Shumate sold 2,414 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $275.00, for a total value of $663,850.00. Following the sale, the chief accounting officer now directly owns 4,841 shares in the company, valued at $1,331,275. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas R. Lebda sold 16,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $275.00, for a total transaction of $4,400,000.00. Following the completion of the sale, the chief executive officer now owns 453,418 shares in the company, valued at $124,689,950. The disclosure for this sale can be found here. Insiders sold 97,374 shares of company stock valued at $27,064,286 in the last ninety days. Corporate insiders own 21.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of TREE. Invictus RG bought a new stake in LendingTree in the third quarter worth about $104,000. Advisor Group Inc. raised its holdings in LendingTree by 61.7% during the 3rd quarter. Advisor Group Inc. now owns 527 shares of the financial services provider’s stock worth $128,000 after buying an additional 201 shares during the period. SG Americas Securities LLC acquired a new stake in LendingTree during the 2nd quarter worth about $148,000. Aperio Group LLC acquired a new stake in LendingTree during the 3rd quarter worth about $201,000. Finally, Seven Eight Capital LP acquired a new stake in LendingTree during the 2nd quarter worth about $207,000. Hedge funds and other institutional investors own 72.11% of the company’s stock.
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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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