108,268 Shares in LendingTree, Inc. $TREE Bought by S Squared Technology LLC

Key Points

• S Squared Technology LLC acquired 108,268 LendingTree shares worth approximately $4.8 million, representing about 0.77% of the company and 1.5% of the investor’s portfolio. Institutional investors collectively own 68.26% of LendingTree.
• Analysts maintain a generally positive view, with five Buy ratings and two Hold ratings. LendingTree has a “Moderate Buy” consensus and an average price target of $61.33, despite several recent target-price reductions.
• LendingTree’s latest quarterly results missed expectations, reporting $0.68 in earnings per share versus a $1.41 estimate and revenue of $313.42 million versus $315.56 million expected. Revenue still increased 25.3% year over year, while the stock opened at $30.97, near its one-year low.

S Squared Technology LLC acquired a new position in LendingTree, Inc. (NASDAQ:TREE - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 108,268 shares of the financial services provider's stock, valued at approximately $4,795,190,000. LendingTree makes up approximately 1.5% of S Squared Technology LLC's investment portfolio, making the stock its 21st biggest holding. S Squared Technology LLC owned approximately 0.77% of LendingTree at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cullen Capital Management LLC purchased a new position in LendingTree during the second quarter valued at $624,000. Evolve Private Wealth LLC purchased a new stake in shares of LendingTree in the 2nd quarter worth about $909,000. Ieq Capital LLC purchased a new stake in shares of LendingTree in the 2nd quarter worth about $596,000. Meeder Asset Management Inc. bought a new position in shares of LendingTree in the 2nd quarter worth about $416,000. Finally, BlackRock Inc. purchased a new position in LendingTree during the 2nd quarter valued at about $54,329,000. Hedge funds and other institutional investors own 68.26% of the company's stock.

Analysts Set New Price Targets

TREE has been the topic of a number of recent research reports. Weiss Ratings restated a "hold (c)" rating on shares of LendingTree in a report on Wednesday, June 24th. Needham & Company LLC lowered their target price on shares of LendingTree from $60.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Keefe, Bruyette & Woods dropped their price target on LendingTree from $70.00 to $58.00 and set an "outperform" rating on the stock in a research report on Monday, July 13th. Northland Securities set a $60.00 price target on LendingTree in a research note on Thursday, July 30th. Finally, Truist Financial cut their price target on LendingTree from $78.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.33.

LendingTree Stock Performance

Shares of LendingTree stock opened at $30.97 on Tuesday. The stock has a market cap of $434.82 million, a price-to-earnings ratio of 2.40 and a beta of 2.04. The firm's 50-day moving average is $38.47 and its 200 day moving average is $40.05. LendingTree, Inc. has a 1 year low of $29.77 and a 1 year high of $77.35. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.85 and a quick ratio of 1.85.

LendingTree (NASDAQ:TREE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.68 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.73). The firm had revenue of $313.42 million for the quarter, compared to analysts' expectations of $315.56 million. LendingTree had a net margin of 14.33% and a return on equity of 14.57%. The business's revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period last year, the company posted $1.13 earnings per share. Sell-side analysts anticipate that LendingTree, Inc. will post 3.49 EPS for the current fiscal year.

About LendingTree

LendingTree, Inc operates an online marketplace that connects consumers with a network of lenders and financial service providers. Through its platform, borrowers can compare loan offers for mortgages, home equity loans, personal loans, student loans, auto loans and small business financing. The company also offers tools for comparing credit cards and deposit accounts, allowing users to research rates and terms from a range of providers in one place.

Founded in 1996 by Doug Lebda, LendingTree pioneered the comparison-shopping model for consumer credit products.

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