Raymond James Financial Inc. Takes Position in LendingTree, Inc. (NASDAQ:TREE)

Raymond James Financial Inc. acquired a new position in LendingTree, Inc. (NASDAQ:TREE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 32,374 shares of the financial services provider's stock, valued at approximately $1,254,000. Raymond James Financial Inc. owned approximately 0.24% of LendingTree as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Age Alpha Advisors LLC purchased a new stake in shares of LendingTree during the 4th quarter valued at about $36,000. Wealthfront Advisers LLC purchased a new position in LendingTree in the 4th quarter worth $54,000. KLP Kapitalforvaltning AS purchased a new position in shares of LendingTree in the 4th quarter valued at about $70,000. Asset Management One Co. Ltd. lifted its stake in shares of LendingTree by 101.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,027 shares of the financial services provider's stock worth $80,000 after buying an additional 1,021 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in shares of LendingTree by 30.0% during the 4th quarter. Meeder Asset Management Inc. now owns 4,351 shares of the financial services provider's stock worth $169,000 after purchasing an additional 1,004 shares during the last quarter. Institutional investors own 68.26% of the company's stock.

LendingTree Stock Up 0.8 %

NASDAQ TREE traded up $0.32 on Friday, hitting $39.28. 86,977 shares of the stock were exchanged, compared to its average volume of 257,371. The company has a 50-day moving average price of $46.80 and a 200-day moving average price of $44.73. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.67. LendingTree, Inc. has a fifty-two week low of $34.55 and a fifty-two week high of $62.49. The company has a market cap of $531.65 million, a PE ratio of -14.55 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.25. The company 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 was up 42.8% compared to the same quarter last year. Sell-side analysts anticipate that LendingTree, Inc. will post 0.48 EPS for the current fiscal year.

Insider Buying and Selling

In other LendingTree news, COO Scott Peyree purchased 21,045 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $41.69 per share, with a total value of $877,366.05. Following the purchase, the chief operating officer now directly owns 76,760 shares of the company's stock, valued at $3,200,124.40. The trade was a 37.77 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 23.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC cut their price target on shares of LendingTree from $65.00 to $62.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Northland Securities raised LendingTree from a "market perform" rating to an "outperform" rating and set a $60.00 price target for the company in a research note on Tuesday, January 21st. Truist Financial cut their price objective on LendingTree from $72.00 to $60.00 and set a "buy" rating for the company in a report on Monday. StockNews.com downgraded shares of LendingTree from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 3rd. Finally, JPMorgan Chase & Co. raised their target price on LendingTree from $65.00 to $68.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, LendingTree presently has an average rating of "Buy" and an average target price of $64.13.

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.