Millennium Management LLC Cuts Holdings in LendingTree, Inc. (NASDAQ:TREE)

Millennium Management LLC reduced its holdings in shares of LendingTree, Inc. (NASDAQ:TREE - Free Report) by 42.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,318 shares of the financial services provider's stock after selling 47,215 shares during the period. Millennium Management LLC owned approximately 0.49% of LendingTree worth $2,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in TREE. Empowered Funds LLC increased its holdings in shares of LendingTree by 4.9% in the fourth quarter. Empowered Funds LLC now owns 36,946 shares of the financial services provider's stock valued at $1,432,000 after purchasing an additional 1,728 shares during the period. Asset Management One Co. Ltd. boosted its position in LendingTree by 101.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,027 shares of the financial services provider's stock worth $80,000 after purchasing an additional 1,021 shares in the last quarter. Congress Asset Management Co. boosted its position in LendingTree by 13.4% during the fourth quarter. Congress Asset Management Co. now owns 24,808 shares of the financial services provider's stock worth $961,000 after purchasing an additional 2,923 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of LendingTree by 75.0% in the fourth quarter. New York State Common Retirement Fund now owns 4,707 shares of the financial services provider's stock valued at $182,000 after acquiring an additional 2,017 shares in the last quarter. Finally, Ieq Capital LLC purchased a new position in shares of LendingTree in the fourth quarter valued at approximately $248,000. 68.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at LendingTree

In other LendingTree news, General Counsel Heather Enlow-Novitsky sold 1,250 shares of the stock in a transaction 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 transaction, the general counsel now owns 2,028 shares of the company's stock, valued at $73,494.72. This represents a 38.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Scott Peyree purchased 21,045 shares of LendingTree stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $41.69 per share, for a total transaction of $877,366.05. Following the purchase, the chief operating officer now owns 76,760 shares in the company, valued at approximately $3,200,124.40. This trade represents a 37.77% increase in their ownership of the stock. The disclosure for this purchase can be found here. 23.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Stephens reiterated an "overweight" rating and set a $69.00 price objective on shares of LendingTree in a research report on Thursday, March 6th. Needham & Company LLC lowered their target price on LendingTree from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. JPMorgan Chase & Co. boosted their target price on LendingTree from $65.00 to $68.00 and gave the stock an "overweight" rating in a research note on Thursday, March 6th. Truist Financial decreased their price target on LendingTree from $72.00 to $60.00 and set a "buy" rating for the company in a report on Monday, May 5th. Finally, Keefe, Bruyette & Woods reduced their target price on LendingTree from $73.00 to $66.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Two 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.13.

LendingTree Stock Performance

NASDAQ TREE traded up $0.59 on Tuesday, hitting $35.28. 160,223 shares of the company's stock were exchanged, compared to its average volume of 270,376. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.92 and a quick ratio of 0.92. The firm's 50-day moving average price is $42.95 and its two-hundred day moving average price is $42.97. LendingTree, Inc. has a fifty-two week low of $33.82 and a fifty-two week high of $62.49. The firm has a market cap of $477.51 million, a price-to-earnings ratio of -13.07 and a beta of 1.76.

LendingTree (NASDAQ:TREE - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.25. The business had revenue of $239.70 million for the quarter, compared to analysts' expectations of $244.93 million. LendingTree had a positive return on equity of 0.51% and a negative net margin of 4.72%. The company's quarterly revenue was up 42.8% on a year-over-year basis. On average, research analysts expect that LendingTree, Inc. will post 0.48 EPS for the current 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.