LendingTree, Inc. $TREE Stock Position Lifted by Credit Agricole S A

Key Points

• Credit Agricole S A significantly increased its position in LendingTree, Inc. by purchasing an additional 21,186 shares, bringing its total ownership to approximately 36,133 shares worth $1,816,000.
• Multiple institutional investors also boosted their stakes in LendingTree, with notable increases from Connor Clark & Lunn Investment Management Ltd. by 72.7% and Hsbc Holdings PLC by 5.7%.
• LendingTree reported a quarterly revenue increase of 19.0% year-over-year, exceeding the consensus estimate and showcasing a positive return on equity of 25.79%.

Credit Agricole S A grew its holdings in LendingTree, Inc. (NASDAQ:TREE - Free Report) by 141.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,133 shares of the financial services provider's stock after purchasing an additional 21,186 shares during the quarter. Credit Agricole S A owned approximately 0.27% of LendingTree worth $1,816,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TREE. Raymond James Financial Inc. acquired a new stake in LendingTree during the fourth quarter worth approximately $1,254,000. Barclays PLC boosted its position in LendingTree by 199.2% during the fourth quarter. Barclays PLC now owns 64,056 shares of the financial services provider's stock worth $2,482,000 after acquiring an additional 42,647 shares during the last quarter. Marshall Wace LLP acquired a new stake in LendingTree during the fourth quarter worth approximately $956,000. CANADA LIFE ASSURANCE Co acquired a new position in shares of LendingTree in the 4th quarter valued at $56,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of LendingTree by 15.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 204,896 shares of the financial services provider's stock valued at $7,940,000 after purchasing an additional 27,887 shares during the last quarter. Institutional investors and hedge funds own 68.26% of the company's stock.

Insider Buying and Selling 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 shares were sold at an average price of $69.14, for a total value of $69,140.00. Following the sale, the general counsel directly owned 1,028 shares in the company, valued at $71,075.92. The trade was a 49.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $69.78, for a total transaction of $83,736.00. Following the completion of the sale, the director owned 8,113 shares in the company, valued at $566,125.14. The trade was a 12.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,669 shares of company stock valued at $598,331 in the last ninety days. Company insiders own 23.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Needham & Company LLC lifted their price target on shares of LendingTree from $62.00 to $70.00 and gave the company a "buy" rating in a report on Friday, August 1st. Keefe, Bruyette & Woods raised shares of LendingTree from a "moderate buy" rating to a "strong-buy" rating in a research note on Friday, August 22nd. Wall Street Zen raised shares of LendingTree from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. Finally, Truist Financial set a $62.00 target price on shares of LendingTree and gave the company a "buy" rating in a research note on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $65.38.

LendingTree Stock Performance

Shares of NASDAQ TREE traded up $0.38 during midday trading on Friday, hitting $67.79. The company's stock had a trading volume of 98,301 shares, compared to its average volume of 319,824. LendingTree, Inc. has a 1-year low of $33.50 and a 1-year high of $70.72. The firm's fifty day moving average price is $48.30 and its 200-day moving average price is $44.72. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $923.23 million, a P/E ratio of -16.69 and a beta of 1.58.

LendingTree (NASDAQ:TREE - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.04. The firm had revenue of $250.10 million during the quarter, compared to analyst estimates of $244.03 million. LendingTree had a negative net margin of 5.33% and a positive return on equity of 25.79%. The firm's revenue was up 19.0% compared to the same quarter last year. On average, sell-side analysts forecast that LendingTree, Inc. will post 0.48 EPS for the current fiscal year.

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.