LendingTree (NASDAQ:TREE) Stock Price Up 7.1% After Strong Earnings

Key Points

• LendingTree stock rose 7.1% after reporting better-than-expected quarterly earnings, with $1.13 earnings per share, exceeding analysts' estimates of $1.09.
• The company achieved $250.10 million in revenue for the quarter, up 19.0% year-over-year, surpassing the consensus estimate of $244.03 million.
• Analysts have mixed ratings on LendingTree, with two hold ratings, seven buy ratings, and one strong buy, resulting in an average price target of $64.13.

LendingTree, Inc. (NASDAQ:TREE - Get Free Report) rose 7.1% during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $48.35 and last traded at $49.99. Approximately 225,504 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 313,245 shares. The stock had previously closed at $46.68.

The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.04. LendingTree had a negative net margin of 5.67% and a positive return on equity of 14.76%. The company had revenue of $250.10 million during the quarter, compared to the consensus estimate of $244.03 million. LendingTree's revenue was up 19.0% on a year-over-year basis.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TREE. Truist Financial lowered their price objective on shares of LendingTree from $72.00 to $60.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Wall Street Zen cut shares of LendingTree from a "buy" rating to a "hold" rating in a research note on Sunday, May 11th. Finally, Needham & Company LLC reissued a "buy" rating and set a $62.00 price objective on shares of LendingTree in a research note on Thursday, July 24th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, LendingTree presently has an average rating of "Moderate Buy" and an average price target of $64.13.

Insider Buying and Selling

In other news, General Counsel Heather Enlow-Novitsky sold 1,250 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $36.24, for a total value of $45,300.00. Following the sale, the general counsel owned 2,028 shares in the company, valued at approximately $73,494.72. This represents a 38.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 23.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LendingTree

Institutional investors have recently modified their holdings of the stock. AlphaQuest LLC boosted its holdings in shares of LendingTree by 11.4% in the second quarter. AlphaQuest LLC now owns 2,212 shares of the financial services provider's stock valued at $82,000 after acquiring an additional 227 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of LendingTree by 0.9% in the fourth quarter. Nuveen Asset Management LLC now owns 75,564 shares of the financial services provider's stock valued at $2,928,000 after acquiring an additional 689 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of LendingTree by 4.9% in the first quarter. Rhumbline Advisers now owns 14,879 shares of the financial services provider's stock valued at $748,000 after acquiring an additional 698 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of LendingTree by 248.0% in 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 acquiring an additional 848 shares in the last quarter. Finally, State of Wyoming boosted its holdings in shares of LendingTree by 51.1% in the first quarter. State of Wyoming now owns 2,712 shares of the financial services provider's stock valued at $136,000 after acquiring an additional 917 shares in the last quarter. Institutional investors and hedge funds own 68.26% of the company's stock.

LendingTree Stock Up 7.3%

The firm has a market capitalization of $677.38 million, a P/E ratio of -12.11 and a beta of 1.61. The firm's fifty day moving average price is $38.14 and its 200-day moving average price is $42.37. The company has a debt-to-equity ratio of 3.74, a current ratio of 1.20 and a quick ratio of 1.20.

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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