LendingTree (NASDAQ:TREE) Reaches New 12-Month High - What's Next?

Key Points

• LendingTree, Inc. shares reached a new 52-week high of $74.15, closing at $73.74 with a trading volume of 131,058 shares.
• Analysts have raised their price targets on LendingTree, with Needham & Company suggesting a target of $70.00 and several firms giving the stock a "buy" or "strong-buy" rating.
• In the latest earnings report, LendingTree posted an EPS of $1.13 and revenue of $250.10 million, exceeding analyst expectations and showing a 19% increase in revenue year-over-year.

LendingTree, Inc. (NASDAQ:TREE - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $74.15 and last traded at $73.74, with a volume of 131058 shares traded. The stock had previously closed at $71.82.

Wall Street Analyst Weigh In

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

LendingTree Stock Performance

The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 3.26. The stock has a market capitalization of $1.00 billion, a PE ratio of -18.16 and a beta of 1.69. The firm's fifty day moving average price is $56.40 and its two-hundred day moving average price is $47.05.

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

Insider Buying and Selling

In related news, CFO Jason Bengel sold 6,469 shares of the business's stock in a transaction 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 sale, the chief financial officer owned 6,517 shares of the company's stock, valued at approximately $448,760.62. The trade was a 49.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Heather Enlow-Novitsky sold 1,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $69.14, for a total transaction of $69,140.00. Following the completion of the sale, the general counsel directly owned 1,028 shares of the company's stock, valued at approximately $71,075.92. The trade was a 49.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,669 shares of company stock valued at $598,331. 23.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LendingTree

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its stake in LendingTree by 1,747.8% during the 2nd 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 during the last quarter. Nuveen LLC acquired a new stake in LendingTree during the 1st quarter worth $11,603,000. Harbor Capital Advisors Inc. acquired a new stake in LendingTree during the 2nd quarter worth $7,337,000. G2 Investment Partners Management LLC boosted its stake in LendingTree by 69.0% during the 2nd quarter. G2 Investment Partners Management LLC now owns 305,573 shares of the financial services provider's stock worth $11,328,000 after purchasing an additional 124,806 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in LendingTree by 2,074.7% during the 4th quarter. Squarepoint Ops LLC now owns 107,998 shares of the financial services provider's stock worth $4,185,000 after purchasing an additional 103,032 shares during the last quarter. Hedge funds and other institutional investors own 68.26% of the company's stock.

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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