Charles Schwab Investment Management Inc. Sells 5,155 Shares of LendingTree, Inc. $TREE

Key Points

• Charles Schwab Investment Management Inc. has decreased its position in LendingTree, Inc. by 5.5%, now holding 88,328 shares valued at approximately $4.44 million.
• Insiders, including Director Diego A. Rodriguez and CFO Jason Bengel, have sold a total of 8,669 shares within the last ninety days, reflecting significant reductions in their ownership stakes.
• LendingTree recently had a positive earnings report, with $1.13 earnings per share for the last quarter, exceeding analysts' expectations and reflecting a 19% year-over-year revenue growth.

Charles Schwab Investment Management Inc. cut its holdings in LendingTree, Inc. (NASDAQ:TREE - Free Report) by 5.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,328 shares of the financial services provider's stock after selling 5,155 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.65% of LendingTree worth $4,440,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its stake in 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 worth $46,000 after buying an additional 848 shares in the last quarter. CANADA LIFE ASSURANCE Co acquired a new stake in LendingTree during the fourth quarter worth about $56,000. Lazard Asset Management LLC grew its stake in LendingTree by 4,509.1% during the fourth quarter. Lazard Asset Management LLC now owns 2,028 shares of the financial services provider's stock worth $78,000 after buying an additional 1,984 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in LendingTree by 4,926.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,262 shares of the financial services provider's stock worth $114,000 after buying an additional 2,217 shares in the last quarter. Finally, CWM LLC grew its stake in LendingTree by 497.6% during the first quarter. CWM LLC now owns 4,775 shares of the financial services provider's stock worth $240,000 after buying an additional 3,976 shares in the last quarter. 68.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity at LendingTree

In related news, CFO Jason Bengel sold 6,469 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $68.86, for a total value of $445,455.34. Following the completion of the transaction, the chief financial officer owned 6,517 shares in the company, valued at $448,760.62. This trade represents a 49.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Heather Enlow-Novitsky sold 1,000 shares of the firm'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 transaction of $69,140.00. Following the completion of the transaction, the general counsel owned 1,028 shares of the company's stock, valued at approximately $71,075.92. This trade 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 worth $598,331 in the last quarter. 23.40% of the stock is owned by insiders.

LendingTree Price Performance

Shares of TREE stock traded up $0.63 on Wednesday, reaching $68.47. The company had a trading volume of 170,026 shares, compared to its average volume of 320,315. The stock has a market capitalization of $932.56 million, a PE ratio of -16.86 and a beta of 1.69. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 3.26. LendingTree, Inc. has a one year low of $33.50 and a one year high of $70.72. The business's 50-day moving average is $50.88 and its 200 day moving average is $45.33.

LendingTree (NASDAQ:TREE - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.04. The firm had revenue of $250.10 million during the quarter, compared to analysts' expectations of $244.03 million. LendingTree had a negative net margin of 5.33% and a positive return on equity of 25.79%. The business's revenue for the quarter was up 19.0% compared to the same quarter last year. Equities research 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.