Los Angeles Capital Management LLC Acquires New Stake in LendingTree, Inc. (NASDAQ:TREE)

Los Angeles Capital Management LLC acquired a new stake in LendingTree, Inc. (NASDAQ:TREE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 64,168 shares of the financial services provider's stock, valued at approximately $1,946,000. Los Angeles Capital Management LLC owned 0.49% of LendingTree at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. SG Americas Securities LLC increased its stake in shares of LendingTree by 109.9% during the third quarter. SG Americas Securities LLC now owns 10,076 shares of the financial services provider's stock valued at $156,000 after buying an additional 5,276 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of LendingTree by 13.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,727 shares of the financial services provider's stock worth $492,000 after purchasing an additional 3,864 shares during the period. Olympiad Research LP boosted its stake in shares of LendingTree by 36.4% during the third quarter. Olympiad Research LP now owns 12,491 shares of the financial services provider's stock valued at $194,000 after purchasing an additional 3,336 shares in the last quarter. Principal Financial Group Inc. purchased a new position in LendingTree during the third quarter valued at approximately $205,000. Finally, Assenagon Asset Management S.A. raised its stake in LendingTree by 26.5% in the third quarter. Assenagon Asset Management S.A. now owns 189,846 shares of the financial services provider's stock worth $2,943,000 after buying an additional 39,745 shares in the last quarter. 68.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on TREE shares. JPMorgan Chase & Co. lifted their price target on shares of LendingTree from $25.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, February 28th. Oppenheimer upped their target price on LendingTree from $45.00 to $55.00 and gave the company an "outperform" rating in a research report on Wednesday, May 1st. Truist Financial reissued a "buy" rating and issued a $55.00 price target (up previously from $37.00) on shares of LendingTree in a report on Wednesday, May 1st. Needham & Company LLC upped their price objective on shares of LendingTree from $40.00 to $56.00 and gave the company a "buy" rating in a report on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of LendingTree from $45.00 to $60.00 and gave the company an "outperform" rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $48.50.

LendingTree Stock Performance

Shares of TREE stock traded down $1.12 during mid-day trading on Wednesday, reaching $47.81. The stock had a trading volume of 125,113 shares, compared to its average volume of 298,989. LendingTree, Inc. has a 1-year low of $10.12 and a 1-year high of $52.76. The firm has a market cap of $632.53 million, a price-to-earnings ratio of -4.71 and a beta of 2.10. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 4.80. The business's fifty day moving average is $40.17 and its 200-day moving average is $30.66.

LendingTree (NASDAQ:TREE - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.14 by $0.14. The business had revenue of $134.40 million for the quarter, compared to the consensus estimate of $135.55 million. LendingTree had a negative net margin of 21.07% and a positive return on equity of 1.34%. During the same period in the prior year, the firm earned ($0.53) EPS. On average, research analysts forecast that LendingTree, Inc. will post -0.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Gabriel Dalporto sold 1,442 shares of LendingTree stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $50.17, for a total transaction of $72,345.14. Following the completion of the transaction, the director now directly owns 4,478 shares in the company, valued at $224,661.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Gabriel Dalporto sold 1,442 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $50.17, for a total transaction of $72,345.14. Following the sale, the director now directly owns 4,478 shares of the company's stock, valued at $224,661.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Trent Ziegler sold 8,750 shares of LendingTree stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $49.30, for a total transaction of $431,375.00. Following the completion of the transaction, the chief financial officer now directly owns 5 shares of the company's stock, valued at approximately $246.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,192 shares of company stock valued at $601,880. Company insiders own 23.00% of the company's stock.

LendingTree 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.