Point72 Asset Management L.P. Invests $326,000 in LendingTree, Inc. (NASDAQ:TREE)

Point72 Asset Management L.P. bought a new position in LendingTree, Inc. (NASDAQ:TREE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 8,400 shares of the financial services provider's stock, valued at approximately $326,000. Point72 Asset Management L.P. owned about 0.06% of LendingTree as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. New Age Alpha Advisors LLC bought a new stake in shares of LendingTree during the 4th quarter valued at about $36,000. Tower Research Capital LLC TRC increased its position 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 purchasing an additional 848 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of LendingTree during the 4th quarter valued at about $54,000. CANADA LIFE ASSURANCE Co purchased a new stake in shares of LendingTree during the 4th quarter valued at about $56,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of LendingTree during the 4th quarter valued at about $70,000. Hedge funds and other institutional investors own 68.26% of the company's stock.

Insider Buying and Selling

In related news, COO Scott Peyree purchased 9,794 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $46.13 per share, for a total transaction of $451,797.22. Following the completion of the transaction, the chief operating officer now directly owns 97,566 shares in the company, valued at $4,500,719.58. This represents a 11.16% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 23.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TREE has been the subject of several research reports. 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 report on Friday, May 2nd. Wall Street Zen lowered shares of LendingTree from a "buy" rating to a "hold" rating in a research report on Sunday, May 11th. Truist Financial reduced their price target on shares of LendingTree from $72.00 to $60.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Keefe, Bruyette & Woods reduced their price target on shares of LendingTree from $73.00 to $66.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of LendingTree from $65.00 to $68.00 and gave the stock an "overweight" rating in a report on Thursday, March 6th. Two 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $64.13.

LendingTree Price Performance

TREE traded up $0.64 during trading on Tuesday, reaching $35.80. 333,302 shares of the company traded hands, compared to its average volume of 267,819. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.92 and a current ratio of 0.92. LendingTree, Inc. has a 12-month low of $34.01 and a 12-month high of $62.49. The firm has a fifty day simple moving average of $44.78 and a 200 day simple moving average of $43.47. The company has a market cap of $484.55 million, a P/E ratio of -13.26 and a beta of 1.76.

LendingTree (NASDAQ:TREE - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.74 by $0.25. The business had revenue of $239.70 million during the quarter, compared to analyst estimates of $244.93 million. LendingTree had a negative net margin of 4.72% and a positive return on equity of 0.51%. The business's revenue for the quarter was up 42.8% compared to the same quarter last year. On average, equities analysts forecast 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.