Assenagon Asset Management S.A. Purchases 21,539 Shares of LendingTree, Inc. (NASDAQ:TREE)

Assenagon Asset Management S.A. increased its position in shares of LendingTree, Inc. (NASDAQ:TREE - Free Report) by 17.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 148,271 shares of the financial services provider's stock after purchasing an additional 21,539 shares during the period. Assenagon Asset Management S.A. owned approximately 1.11% of LendingTree worth $7,454,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. New Age Alpha Advisors LLC purchased a new stake in shares of LendingTree in the 4th quarter worth about $36,000. Tower Research Capital LLC TRC increased its stake 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 during the last quarter. Wealthfront Advisers LLC purchased a new position in LendingTree during the fourth quarter worth approximately $54,000. CANADA LIFE ASSURANCE Co purchased a new position in shares of LendingTree in the 4th quarter worth $56,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in LendingTree during the 4th quarter worth approximately $70,000. 68.26% of the stock is owned by institutional investors and hedge funds.

LendingTree Stock Up 3.6%

Shares of LendingTree stock traded up $1.23 on Wednesday, hitting $34.97. 178,951 shares of the company traded hands, compared to its average volume of 275,733. The company has a 50-day moving average price of $40.21 and a 200 day moving average price of $42.33. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 3.74. LendingTree, Inc. has a 12-month low of $33.47 and a 12-month high of $62.49. The company has a market cap of $473.08 million, a PE ratio of -8.44 and a beta of 1.61.

LendingTree (NASDAQ:TREE - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.74 by $0.25. LendingTree had a negative net margin of 5.67% and a positive return on equity of 14.76%. The company had revenue of $239.70 million for the quarter, compared to analyst estimates of $244.93 million. The business's revenue for the quarter was up 42.8% on a year-over-year basis. Sell-side analysts predict that LendingTree, Inc. will post 0.48 earnings per share for the current year.

Insider Buying and Selling at LendingTree

In related news, General Counsel Heather Enlow-Novitsky sold 1,250 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $36.24, for a total transaction of $45,300.00. Following the completion of the sale, the general counsel now owns 2,028 shares in the company, valued at $73,494.72. This represents a 38.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 23.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of LendingTree from a "buy" rating to a "hold" rating in a report on Sunday, May 11th. Keefe, Bruyette & Woods cut their price objective on shares of LendingTree from $73.00 to $66.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. JPMorgan Chase & Co. boosted their price target on LendingTree from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. Needham & Company LLC reduced their price target on shares of LendingTree from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Stephens reaffirmed an "overweight" rating and set a $69.00 target price on shares of LendingTree in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $64.13.

LendingTree 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.