LendingTree, Inc. $TREE Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC has reduced its stake in LendingTree, Inc. (TREE) by 9.8%, now owning approximately $7.35 million worth of shares after selling 15,810 during the first quarter.
• LendingTree recently announced quarterly earnings with $1.13 earnings per share, exceeding analysts' expectations, and reported a 19% increase in revenue year-over-year.
• Analysts have provided a generally positive outlook for LendingTree, with several raising their price targets and ratings, while the stock currently holds an average rating of "Buy" and a consensus price target of $65.38.

Acadian Asset Management LLC lessened its holdings in shares of LendingTree, Inc. (NASDAQ:TREE - Free Report) by 9.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,157 shares of the financial services provider's stock after selling 15,810 shares during the quarter. Acadian Asset Management LLC owned approximately 1.08% of LendingTree worth $7,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Lazard Asset Management LLC lifted its stake in LendingTree by 4,509.1% in the 4th quarter. Lazard Asset Management LLC now owns 2,028 shares of the financial services provider's stock worth $78,000 after purchasing an additional 1,984 shares in the last quarter. AlphaQuest LLC grew its stake in LendingTree by 806.4% in the 1st quarter. AlphaQuest LLC now owns 1,985 shares of the financial services provider's stock worth $100,000 after acquiring an additional 1,766 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in LendingTree by 4,926.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,262 shares of the financial services provider's stock worth $114,000 after acquiring an additional 2,217 shares in the last quarter. State of Wyoming lifted its position in shares of LendingTree by 51.1% in the 1st quarter. State of Wyoming now owns 2,712 shares of the financial services provider's stock worth $136,000 after purchasing an additional 917 shares during the period. Finally, CWM LLC grew its stake in shares of LendingTree by 497.6% during the first quarter. CWM LLC now owns 4,775 shares of the financial services provider's stock worth $240,000 after acquiring an additional 3,976 shares during the last quarter. Hedge funds and other institutional investors own 68.26% of the company's stock.

LendingTree Stock Performance

Shares of NASDAQ:TREE traded down $0.06 during midday trading on Tuesday, hitting $73.68. The stock had a trading volume of 147,503 shares, compared to its average volume of 312,065. The company has a market capitalization of $1.00 billion, a PE ratio of -18.15 and a beta of 1.69. The stock has a 50 day moving average price of $56.40 and a two-hundred day moving average price of $47.05. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 3.26. LendingTree, Inc. has a 1 year low of $33.50 and a 1 year high of $74.48.

LendingTree (NASDAQ:TREE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.09 by $0.04. LendingTree had a negative net margin of 5.33% and a positive return on equity of 25.79%. The firm had revenue of $250.10 million during the quarter, compared to analysts' expectations of $244.03 million. The business's revenue for the quarter was up 19.0% compared to the same quarter last year. As a group, equities analysts predict that LendingTree, Inc. will post 0.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Needham & Company LLC raised their price target on shares of LendingTree from $62.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Truist Financial set a $62.00 price target on shares of LendingTree and gave the stock a "buy" rating in a research report on Monday, August 4th. Keefe, Bruyette & Woods raised LendingTree from a "moderate buy" rating to a "strong-buy" rating in a research report on Friday, August 22nd. Finally, Wall Street Zen raised LendingTree from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $65.38.

Insider Activity at LendingTree

In other LendingTree news, Director Diego A. Rodriguez sold 1,200 shares of LendingTree stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $69.78, for a total transaction of $83,736.00. Following the completion of the transaction, the director owned 8,113 shares in the company, valued at approximately $566,125.14. The trade was a 12.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jason Bengel sold 6,469 shares of LendingTree stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.86, for a total transaction of $445,455.34. Following the transaction, the chief financial officer owned 6,517 shares of the company's stock, valued at approximately $448,760.62. The trade was a 49.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,669 shares of company stock worth $598,331 over the last 90 days. Company insiders own 23.40% of the company's stock.

LendingTree Profile

LendingTree, Inc, through its subsidiary, operates online consumer platform in the United States. It operates through three segments: Home, Consumer, and Insurance. The Home segment offers purchase mortgage, refinance mortgage, and home equity loans and lines of credit; and real estate brokerage services.