Nuveen LLC Acquires New Holdings in LendingTree, Inc. $TREE

Key Points

• Nuveen LLC acquired a new stake in LendingTree, purchasing 230,808 shares valued at approximately $11.6 million, increasing its ownership to about 1.71% of the company.
• LendingTree shares experienced a 10% increase recently, with current trading at $69.48, reflecting a significant rise from its 1-year low of $33.50.
• In its latest earnings report, LendingTree reported a 19% revenue increase year-over-year, achieving $250.1 million, along with a quarterly earnings per share of $1.13, exceeding analysts' expectations.

Nuveen LLC acquired a new stake in shares of LendingTree, Inc. (NASDAQ:TREE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 230,808 shares of the financial services provider's stock, valued at approximately $11,603,000. Nuveen LLC owned approximately 1.71% of LendingTree as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC raised 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 in the last quarter. CANADA LIFE ASSURANCE Co bought a new stake in shares of LendingTree during the fourth quarter valued at about $56,000. Lazard Asset Management LLC raised its stake in shares of 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 valued at $78,000 after purchasing an additional 1,984 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 valued at $114,000 after purchasing an additional 2,217 shares in the last quarter. Finally, CWM LLC raised its stake in shares of LendingTree by 497.6% during the first quarter. CWM LLC now owns 4,775 shares of the financial services provider's stock valued at $240,000 after purchasing an additional 3,976 shares in the last quarter. 68.26% of the stock is currently owned by institutional investors.

LendingTree Trading Up 10.0%

Shares of TREE opened at $69.48 on Friday. The business's 50-day moving average price is $45.58 and its 200 day moving average price is $44.08. The stock has a market capitalization of $946.32 million, a P/E ratio of -17.11 and a beta of 1.58. LendingTree, Inc. has a 1-year low of $33.50 and a 1-year high of $69.92. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 3.26.

LendingTree (NASDAQ:TREE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.04. The firm had revenue of $250.10 million for the quarter, compared to analysts' expectations of $244.03 million. LendingTree had a positive return on equity of 25.79% and a negative net margin of 5.33%.The company's quarterly revenue was up 19.0% compared to the same quarter last year. Analysts expect that LendingTree, Inc. will post 0.48 earnings per share for the current year.

Insiders Place Their Bets

In other LendingTree news, General Counsel Heather Enlow-Novitsky sold 1,250 shares of LendingTree stock in a transaction dated 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 owned 2,028 shares of the company's stock, valued at $73,494.72. The trade was a 38.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 23.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TREE has been the topic of a number of recent analyst reports. Truist Financial set a $62.00 price objective on shares of LendingTree and gave the company a "buy" rating in a research note on Monday, August 4th. Wall Street Zen cut shares of LendingTree from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 18th. Finally, Needham & Company LLC boosted their price target on shares of LendingTree from $62.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $65.38.

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.

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