Ieq Capital LLC Acquires 4,362 Shares of LendingTree, Inc. $TREE

Key Points

• Ieq Capital LLC increased its stake in LendingTree, Inc. by 68.2%, acquiring an additional 4,362 shares during the 1st quarter, now owning a total of 10,757 shares valued at approximately $541,000.
• Multiple institutional investors, including AlphaQuest LLC and Credit Agricole S A, have significantly boosted their positions in LendingTree by 806.4% and 141.7% respectively during the same period.
• LendingTree reported a 19.0% increase in quarterly revenue year-over-year, achieving $250.10 million and surpassing analysts' expectations.

Ieq Capital LLC raised its holdings in shares of LendingTree, Inc. (NASDAQ:TREE - Free Report) by 68.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,757 shares of the financial services provider's stock after acquiring an additional 4,362 shares during the period. Ieq Capital LLC owned about 0.08% of LendingTree worth $541,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TREE. Nuveen Asset Management LLC boosted its stake in shares of LendingTree by 0.9% during the fourth quarter. Nuveen Asset Management LLC now owns 75,564 shares of the financial services provider's stock valued at $2,928,000 after purchasing an additional 689 shares during the period. Rhumbline Advisers boosted its stake in shares of LendingTree by 4.9% during the first quarter. Rhumbline Advisers now owns 14,879 shares of the financial services provider's stock valued at $748,000 after purchasing an additional 698 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of LendingTree by 248.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,190 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 848 shares during the period. Hsbc Holdings PLC lifted its stake in LendingTree by 5.7% in the first quarter. Hsbc Holdings PLC now owns 19,130 shares of the financial services provider's stock worth $954,000 after acquiring an additional 1,026 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in LendingTree by 5.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,376 shares of the financial services provider's stock worth $867,000 after acquiring an additional 1,164 shares during the period. 68.26% of the stock is currently owned by institutional investors.

LendingTree Stock Up 0.8%

LendingTree stock traded up $0.56 on Friday, hitting $71.81. 219,660 shares of the stock traded hands, compared to its average volume of 305,082. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 3.26. The firm has a market cap of $978.05 million, a P/E ratio of 35.90 and a beta of 1.69. The business's fifty day simple moving average is $52.28 and its 200 day simple moving average is $45.68. LendingTree, Inc. has a 1 year low of $33.50 and a 1 year high of $73.26.

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

Analysts Set New Price Targets

A number of analysts recently commented on TREE shares. Wall Street Zen lowered LendingTree from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. Keefe, Bruyette & Woods raised LendingTree from a "moderate buy" rating to a "strong-buy" rating in a research note on Friday, August 22nd. Needham & Company LLC raised their price target on LendingTree from $62.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Truist Financial set a $62.00 price target on LendingTree and gave the stock 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 given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $65.38.

Insider Transactions at LendingTree

In other news, Director Diego A. Rodriguez sold 1,200 shares of LendingTree stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $69.78, for a total value of $83,736.00. Following the completion of the transaction, the director owned 8,113 shares of the company's stock, valued at $566,125.14. The trade was a 12.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Heather Enlow-Novitsky sold 1,000 shares of LendingTree stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $69.14, for a total value of $69,140.00. Following the completion of the transaction, the general counsel directly owned 1,028 shares of the company's stock, valued at approximately $71,075.92. This represents a 49.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,669 shares of company stock valued at $598,331 in the last quarter. 23.10% of the stock is owned by insiders.

About LendingTree

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.