Sei Investments Co. Increases Holdings in LendingTree, Inc. (TREE)
Sei Investments Co. raised its position in LendingTree, Inc. (NASDAQ:TREE) by 0.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 138,311 shares of the financial services provider’s stock after purchasing an additional 288 shares during the period. Sei Investments Co. owned 1.16% of LendingTree worth $33,810,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in TREE. JPMorgan Chase & Co. purchased a new position in LendingTree in the 1st quarter valued at $2,068,000. OppenheimerFunds Inc. lifted its holdings in LendingTree by 17.3% in the 1st quarter. OppenheimerFunds Inc. now owns 2,559 shares of the financial services provider’s stock valued at $321,000 after purchasing an additional 378 shares in the last quarter. Teachers Advisors LLC lifted its holdings in LendingTree by 7.7% in the 1st quarter. Teachers Advisors LLC now owns 11,399 shares of the financial services provider’s stock valued at $1,429,000 after purchasing an additional 811 shares in the last quarter. Legal & General Group Plc lifted its holdings in LendingTree by 2.3% in the 1st quarter. Legal & General Group Plc now owns 11,752 shares of the financial services provider’s stock valued at $1,473,000 after purchasing an additional 262 shares in the last quarter. Finally, Thrivent Financial For Lutherans lifted its holdings in LendingTree by 4.4% in the 1st quarter. Thrivent Financial For Lutherans now owns 4,060 shares of the financial services provider’s stock valued at $509,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 70.55% of the company’s stock.
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A number of brokerages have weighed in on TREE. Stephens restated an “overweight” rating and issued a $250.00 price objective (up previously from $200.00) on shares of LendingTree in a report on Sunday, July 30th. Royal Bank Of Canada lifted their price target on LendingTree from $160.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Needham & Company LLC reiterated a “buy” rating and set a $250.00 price target (up previously from $200.00) on shares of LendingTree in a report on Thursday, July 27th. Northland Securities reiterated a “buy” rating and set a $150.00 price target on shares of LendingTree in a report on Tuesday, July 25th. Finally, Oppenheimer Holdings, Inc. lifted their price target on LendingTree from $245.00 to $290.00 and gave the stock an “outperform” rating in a report 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 company. The stock has an average rating of “Buy” and an average price target of $247.08.
Shares of LendingTree, Inc. (TREE) traded down $0.50 on Friday, reaching $257.75. 94,600 shares of the company traded hands, compared to its average volume of 229,140. The stock has a market cap of $3,085.01, a price-to-earnings ratio of 78.34, a P/E/G ratio of 2.63 and a beta of 1.51. LendingTree, Inc. has a 12-month low of $87.16 and a 12-month high of $280.80. 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 (NASDAQ:TREE) last issued its quarterly earnings data 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. The firm had revenue of $171.50 million for the quarter, compared to analyst estimates of $157.97 million. LendingTree had a net margin of 5.49% and a return on equity of 16.52%. LendingTree’s revenue was up 81.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 EPS. research analysts anticipate that LendingTree, Inc. will post 3.06 earnings per share for the current year.
In related news, Director Peter Horan sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $226.90, for a total value of $453,800.00. Following the sale, the director now directly owns 31,624 shares in the company, valued at approximately $7,175,485.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Neil Salvage sold 1,500 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $267.08, for a total transaction of $400,620.00. Following the completion of the sale, the president now owns 12,907 shares in the company, valued at $3,447,201.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,810 shares of company stock worth $13,425,828. 21.90% of the stock is owned by insiders.
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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