LendingTree, Inc. $TREE Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its LendingTree stake by 55.9% in the second quarter, selling 52,458 shares and retaining 41,396 shares worth approximately $1.83 million.
• Other institutional investors increased their positions, and hedge funds and institutions collectively own 68.26% of LendingTree’s outstanding stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $61.33, while shares recently opened at $32.59 within a $29.77–$77.35 12-month range.

Assenagon Asset Management S.A. reduced its holdings in LendingTree, Inc. (NASDAQ:TREE - Free Report) by 55.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,396 shares of the financial services provider's stock after selling 52,458 shares during the period. Assenagon Asset Management S.A. owned about 0.30% of LendingTree worth $1,833,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jennison Associates LLC purchased a new stake in LendingTree in the 4th quarter worth $31,120,000. Ameriprise Financial Inc. increased its stake in shares of LendingTree by 1,747.8% during the second quarter. Ameriprise Financial Inc. now owns 546,536 shares of the financial services provider's stock worth $20,260,000 after purchasing an additional 516,958 shares in the last quarter. Mariner LLC increased its stake in shares of LendingTree by 31.5% during the fourth quarter. Mariner LLC now owns 1,760,407 shares of the financial services provider's stock worth $93,461,000 after purchasing an additional 421,826 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of LendingTree by 1,163.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 263,835 shares of the financial services provider's stock worth $17,078,000 after purchasing an additional 242,947 shares during the last quarter. Finally, Blue Grotto Capital LLC raised its position in shares of LendingTree by 64.3% during the 4th quarter. Blue Grotto Capital LLC now owns 584,931 shares of the financial services provider's stock worth $31,054,000 after purchasing an additional 228,858 shares during the last quarter. 68.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TREE has been the topic of several research analyst reports. Truist Financial lowered their price objective on LendingTree from $78.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Northland Securities set a $60.00 target price on LendingTree in a report on Thursday, July 30th. Needham & Company LLC decreased their target price on LendingTree from $60.00 to $45.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Wall Street Zen lowered LendingTree from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of LendingTree in a research note on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, LendingTree has a consensus rating of "Moderate Buy" and an average target price of $61.33.

LendingTree Stock Performance

Shares of TREE stock opened at $32.59 on Friday. The company has a market cap of $457.56 million, a P/E ratio of 2.53 and a beta of 2.04. The firm has a fifty day moving average price of $39.12 and a 200 day moving average price of $41.23. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.20. LendingTree, Inc. has a 12 month low of $29.77 and a 12 month high of $77.35.

LendingTree Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source