Assenagon Asset Management S.A. Has $5.13 Million Stake in LendingTree, Inc. $TREE

Key Points

• Assenagon Asset Management S.A. reduced its stake in LendingTree, Inc. by 6.7%, now owning 138,307 shares valued at approximately $5.13 million.
• LendingTree reported earnings of $1.13 per share for the last quarter, exceeding analysts' estimates and marking a 19% year-over-year revenue growth.
• Equities analysts have upgraded LendingTree's stock ratings, with a consensus rating of "Buy" and an average target price of $65.38.

Assenagon Asset Management S.A. decreased its position in LendingTree, Inc. (NASDAQ:TREE - Free Report) by 6.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,307 shares of the financial services provider's stock after selling 9,964 shares during the quarter. Assenagon Asset Management S.A. owned 1.02% of LendingTree worth $5,127,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new stake in shares of LendingTree in the 2nd quarter valued at about $7,337,000. Rhumbline Advisers grew its holdings in shares of LendingTree by 4.9% in the 1st quarter. Rhumbline Advisers now owns 14,879 shares of the financial services provider's stock valued at $748,000 after acquiring an additional 698 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of LendingTree by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,598 shares of the financial services provider's stock valued at $1,188,000 after acquiring an additional 1,222 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of LendingTree by 4.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 357,641 shares of the financial services provider's stock valued at $17,979,000 after acquiring an additional 14,644 shares in the last quarter. Finally, PDT Partners LLC bought a new position in shares of LendingTree in the 1st quarter valued at about $349,000. Institutional investors and hedge funds own 68.26% of the company's stock.

LendingTree Trading Down 1.8%

Shares of NASDAQ:TREE opened at $69.11 on Thursday. LendingTree, Inc. has a 12-month low of $33.50 and a 12-month high of $77.35. The stock has a market cap of $941.28 million, a PE ratio of -17.02 and a beta of 1.69. The business has a 50 day moving average of $61.25 and a 200-day moving average of $48.46. 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 data on Thursday, July 31st. The financial services provider reported $1.13 earnings per share (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 analysts' expectations of $244.03 million. The company's quarterly revenue was up 19.0% on a year-over-year basis. As a group, equities research analysts forecast that LendingTree, Inc. will post 0.48 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TREE shares. 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 price objective on LendingTree and gave the company a "buy" rating in a report on Monday, August 4th. Needham & Company LLC raised their price objective on LendingTree from $62.00 to $70.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Wall Street Zen raised LendingTree from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $65.38.

Insider Transactions at LendingTree

In related news, General Counsel Heather Enlow-Novitsky sold 1,000 shares of the business's stock in a transaction that occurred 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 sale, the general counsel directly owned 1,028 shares in the company, valued at approximately $71,075.92. The trade was a 49.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Diego A. Rodriguez sold 1,200 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $69.78, for a total value of $83,736.00. Following the completion of the sale, the director owned 8,113 shares of the company's stock, valued at approximately $566,125.14. This trade represents a 12.89% 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 quarter. Company insiders own 23.10% of the company's stock.

LendingTree Company 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.

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