Acadian Asset Management LLC Has $7.35 Million Stake in LendingTree, Inc. $TREE

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 decreased its position in LendingTree, Inc. (NASDAQ:TREE - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 146,157 shares of the financial services provider's stock after selling 15,810 shares during the quarter. Acadian Asset Management LLC owned about 1.08% of LendingTree worth $7,346,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. AlphaQuest LLC grew its stake in shares of LendingTree by 806.4% in the 1st quarter. AlphaQuest LLC now owns 1,985 shares of the financial services provider's stock valued at $100,000 after buying an additional 1,766 shares in the last quarter. Lazard Asset Management LLC lifted its holdings 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 purchasing an additional 2,217 shares during the last quarter. State of Wyoming lifted its holdings in 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 last quarter. Finally, CWM LLC lifted its holdings in LendingTree by 497.6% in the 1st quarter. CWM LLC now owns 4,775 shares of the financial services provider's stock worth $240,000 after purchasing an additional 3,976 shares during the last quarter. Institutional investors own 68.26% of the company's stock.

LendingTree Stock Performance

Shares of TREE stock traded down $0.34 during trading hours on Thursday, reaching $75.43. 97,445 shares of the company's stock were exchanged, compared to its average volume of 311,497. LendingTree, Inc. has a fifty-two week low of $33.50 and a fifty-two week high of $77.35. The stock has a market capitalization of $1.03 billion, a P/E ratio of -18.58 and a beta of 1.69. The business has a fifty day moving average price of $57.84 and a 200-day moving average price of $47.44. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 3.26.

LendingTree (NASDAQ:TREE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.04. LendingTree had a positive return on equity of 25.79% and a negative net margin of 5.33%.The company had revenue of $250.10 million during the quarter, compared to analyst estimates of $244.03 million. LendingTree's revenue for the quarter was up 19.0% on a year-over-year basis. Analysts predict that LendingTree, Inc. will post 0.48 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on TREE. Keefe, Bruyette & Woods upgraded LendingTree from a "moderate buy" rating to a "strong-buy" rating in a report on Friday, August 22nd. Truist Financial set a $62.00 target price on LendingTree and gave the stock a "buy" rating in a report on Monday, August 4th. Wall Street Zen upgraded LendingTree from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. Finally, Needham & Company LLC boosted their target price on LendingTree from $62.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, August 1st. 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 MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $65.38.

Insider Transactions at LendingTree

In related news, General Counsel Heather Enlow-Novitsky sold 1,000 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $69.14, for a total value of $69,140.00. Following the completion of the transaction, the general counsel directly owned 1,028 shares in the company, valued at approximately $71,075.92. This represents a 49.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jason Bengel sold 6,469 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.86, for a total value of $445,455.34. Following the completion of the transaction, the chief financial officer owned 6,517 shares of the company's stock, valued at $448,760.62. The trade was a 49.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,669 shares of company stock worth $598,331 over the last three months. 23.10% of the stock is currently owned by insiders.

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.