BlackRock Inc. purchased a new position in shares of LendingTree, Inc. (NASDAQ:TREE - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,226,671 shares of the financial services provider's stock, valued at approximately $54,329,000. BlackRock Inc. owned about 8.74% of LendingTree as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ameriprise Financial Inc. raised its position in LendingTree by 1,747.8% during the second quarter. Ameriprise Financial Inc. now owns 546,536 shares of the financial services provider's stock valued at $20,260,000 after purchasing an additional 516,958 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of LendingTree by 74.0% in the 1st quarter. Jennison Associates LLC now owns 1,020,211 shares of the financial services provider's stock valued at $43,747,000 after purchasing an additional 434,038 shares in the last quarter. Mariner LLC boosted its holdings in shares of LendingTree by 31.5% in the 4th quarter. Mariner LLC now owns 1,760,407 shares of the financial services provider's stock valued at $93,461,000 after purchasing an additional 421,826 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of LendingTree by 1,163.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 263,835 shares of the financial services provider's stock valued at $17,078,000 after purchasing an additional 242,947 shares during the last quarter. Finally, Blue Grotto Capital LLC increased its stake in shares of LendingTree by 64.3% in the 4th quarter. Blue Grotto Capital LLC now owns 584,931 shares of the financial services provider's stock valued at $31,054,000 after purchasing an additional 228,858 shares during the last quarter. Institutional investors own 68.26% of the company's stock.
LendingTree Stock Performance
Shares of LendingTree stock opened at $28.04 on Tuesday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.20. LendingTree, Inc. has a twelve month low of $27.51 and a twelve month high of $77.35. The stock has a market cap of $393.68 million, a price-to-earnings ratio of 2.17 and a beta of 2.04. The company's fifty day moving average is $37.60 and its 200 day moving average is $39.47.
LendingTree (NASDAQ:TREE - Get Free Report) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $0.68 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.73). The company had revenue of $313.42 million for the quarter, compared to analyst estimates of $315.56 million. LendingTree had a return on equity of 14.57% and a net margin of 14.33%.The firm's quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.13 earnings per share. Sell-side analysts forecast that LendingTree, Inc. will post 3.49 EPS for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on TREE shares. Needham & Company LLC dropped their price objective on LendingTree from $60.00 to $45.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Truist Financial decreased their target price 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 note on Wednesday, June 24th. Keefe, Bruyette & Woods lowered their target price on LendingTree from $70.00 to $58.00 and set an "outperform" rating for the company in a research note on Monday, July 13th. Finally, Wall Street Zen raised shares of LendingTree from a "hold" rating to a "buy" rating in a report on Saturday. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, LendingTree presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.33.
Read Our Latest Stock Report on TREE
LendingTree Company Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding TREE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LendingTree, Inc. (NASDAQ:TREE - Free Report).
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