Bank of New York Mellon Corp Buys Shares of 36,401 LendingTree, Inc. $TREE

Key Points

• Bank of New York Mellon acquired 36,401 LendingTree shares in the second quarter, valued at approximately $1.61 million, giving it a 0.26% stake. Institutional investors collectively own 68.26% of the company.
• Analysts maintain a generally positive view, with five Buy ratings and two Holds. LendingTree has a “Moderate Buy” consensus rating and an average price target of $61.33, although several analysts recently lowered their targets.
• LendingTree shares opened at $27.84, near their one-year low of $27.07, after the company reported quarterly EPS of $0.68—well below the $1.41 consensus estimate—while revenue rose 25.3% year over year to $313.42 million.

Bank of New York Mellon Corp acquired a new stake in LendingTree, Inc. (NASDAQ:TREE - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 36,401 shares of the financial services provider's stock, valued at approximately $1,612,000. Bank of New York Mellon Corp owned approximately 0.26% of LendingTree at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. State of Wyoming acquired a new position in LendingTree in the 2nd quarter valued at about $643,000. Moody National Bank Trust Division boosted its holdings in LendingTree by 311.8% in the second quarter. Moody National Bank Trust Division now owns 28,823 shares of the financial services provider's stock valued at $1,277,000 after purchasing an additional 21,823 shares during the period. Bank of America Corp DE grew its stake in LendingTree by 54.5% during the 1st quarter. Bank of America Corp DE now owns 82,203 shares of the financial services provider's stock worth $3,525,000 after purchasing an additional 28,990 shares in the last quarter. Quantinno Capital Management LP increased its holdings in LendingTree by 350.8% during the 1st quarter. Quantinno Capital Management LP now owns 27,483 shares of the financial services provider's stock worth $1,178,000 after purchasing an additional 21,387 shares during the period. Finally, Jacobs Asset Management LLC purchased a new stake in LendingTree during the 1st quarter worth about $643,000. Institutional investors and hedge funds own 68.26% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Northland Securities set a $60.00 price target on shares of LendingTree in a research note on Thursday, July 30th. Needham & Company LLC reduced their price objective on shares of LendingTree from $60.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Zacks Research cut LendingTree from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 30th. Keefe, Bruyette & Woods lowered their price objective on LendingTree from $70.00 to $58.00 and set an "outperform" rating for the company in a research report on Monday, July 13th. Finally, Truist Financial dropped their price objective on LendingTree from $78.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, LendingTree has a consensus rating of "Moderate Buy" and a consensus target price of $61.33.

LendingTree Trading Down 1.8%

NASDAQ TREE opened at $27.84 on Wednesday. The firm's fifty day moving average is $36.14 and its two-hundred day moving average is $38.98. LendingTree, Inc. has a one year low of $27.07 and a one year high of $77.35. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market cap of $390.87 million, a PE ratio of 2.16 and a beta of 2.05.

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