Hennessy Advisors Inc. lessened its holdings in LendingTree, Inc. (NASDAQ:TREE - Free Report) by 10.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 217,600 shares of the financial services provider's stock after selling 24,800 shares during the quarter. Hennessy Advisors Inc. owned 1.62% of LendingTree worth $10,939,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. New Age Alpha Advisors LLC acquired a new stake in shares of LendingTree during the 4th quarter valued at $36,000. Tower Research Capital LLC TRC boosted its holdings in shares of LendingTree by 248.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,190 shares of the financial services provider's stock valued at $46,000 after acquiring an additional 848 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of LendingTree during the 4th quarter valued at $54,000. CANADA LIFE ASSURANCE Co acquired a new stake in shares of LendingTree during the 4th quarter valued at $56,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of LendingTree during the 4th quarter valued at $70,000. Institutional investors and hedge funds own 68.26% of the company's stock.
Insider Activity at LendingTree
In related news, General Counsel Heather Enlow-Novitsky sold 1,250 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $36.24, for a total value of $45,300.00. Following the completion of the sale, the general counsel now directly owns 2,028 shares of the company's stock, valued at $73,494.72. The trade was a 38.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 23.10% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods cut their price objective on LendingTree from $73.00 to $66.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. JPMorgan Chase & Co. raised their target price on LendingTree from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. Wall Street Zen lowered LendingTree from a "buy" rating to a "hold" rating in a research report on Sunday, May 11th. Stephens reaffirmed an "overweight" rating and set a $69.00 target price on shares of LendingTree in a research report on Thursday, March 6th. Finally, Truist Financial lowered their target price on LendingTree from $72.00 to $60.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, LendingTree has an average rating of "Moderate Buy" and an average target price of $64.13.
Get Our Latest Stock Analysis on TREE
LendingTree Trading Down 3.1%
Shares of TREE stock traded down $1.08 during mid-day trading on Friday, hitting $34.16. The company's stock had a trading volume of 225,600 shares, compared to its average volume of 275,459. The company's fifty day simple moving average is $40.55 and its 200-day simple moving average is $42.46. LendingTree, Inc. has a 52 week low of $33.82 and a 52 week high of $62.49. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $462.36 million, a PE ratio of -12.65 and a beta of 1.61.
LendingTree (NASDAQ:TREE - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.25. LendingTree had a positive return on equity of 0.51% and a negative net margin of 4.72%. The firm had revenue of $239.70 million during the quarter, compared to analyst estimates of $244.93 million. The firm's revenue for the quarter was up 42.8% on a year-over-year basis. As a group, equities research analysts expect that LendingTree, Inc. will post 0.48 earnings per share for the current fiscal year.
LendingTree Company Profile
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Free Report)
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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