Bank of America Corp DE Purchases 41,196 Shares of LendingTree, Inc. $TREE

Key Points

• Bank of America acquired 41,196 LendingTree shares worth approximately $1.825 million in the second quarter, giving it about a 0.29% stake. Institutional investors collectively owned 68.26% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and two Hold ratings. LendingTree has a consensus “Moderate Buy” rating and an average price target of $61.33, despite several recent target reductions.
• LendingTree shares opened at $24.43, near their one-year low of $23.50, after the company missed quarterly EPS estimates. Revenue increased 25.3% year over year to $313.42 million, while quarterly EPS came in at $0.68 versus the $1.41 consensus.

Bank of America Corp DE acquired a new position in shares of LendingTree, Inc. (NASDAQ:TREE - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 41,196 shares of the financial services provider's stock, valued at approximately $1,825,000. Bank of America Corp DE owned about 0.29% of LendingTree at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TREE. Arrowstreet Capital Limited Partnership raised its stake in shares of LendingTree by 33.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 274,366 shares of the financial services provider's stock worth $11,765,000 after purchasing an additional 68,466 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of LendingTree in the second quarter valued at $1,612,000. S Squared Technology LLC acquired a new position in LendingTree during the second quarter worth $4,795,190. BlackRock Inc. acquired a new position in LendingTree during the second quarter worth $54,329,000. Finally, Jennison Associates LLC raised its position in LendingTree by 74.0% during the first quarter. Jennison Associates LLC now owns 1,020,211 shares of the financial services provider's stock worth $43,747,000 after acquiring an additional 434,038 shares in the last quarter. Institutional investors own 68.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TREE shares. Keefe, Bruyette & Woods dropped their target price on shares of LendingTree from $70.00 to $58.00 and set an "outperform" rating on the stock in a report on Monday, July 13th. Northland Securities set a $60.00 price target on LendingTree in a report on Thursday, July 30th. Truist Financial lowered their price target on LendingTree from $78.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Weiss Ratings reissued a "hold (c)" rating on shares of LendingTree in a research report on Monday, September 21st. Finally, Wall Street Zen upgraded LendingTree from a "hold" rating to a "buy" rating in a research note on Saturday, August 29th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, LendingTree currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.33.

LendingTree Price Performance

Shares of NASDAQ TREE opened at $24.43 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.20. The firm has a market cap of $343.00 million, a P/E ratio of 1.89 and a beta of 2.05. The business's 50 day moving average is $29.98 and its 200-day moving average is $37.37. LendingTree, Inc. has a 1-year low of $23.50 and a 1-year high of $68.93.

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

LendingTree Company Profile

LendingTree, Inc operates an online marketplace that helps consumers compare financial products and connect with banks, lenders, insurers and other service providers. The company generally acts as a marketing and comparison platform rather than as a direct lender, enabling users to review offers based on information they provide.

Its marketplace includes products such as mortgages and home equity financing, personal loans, auto loans, credit cards, small-business financing, insurance and deposit accounts.

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