Congress Asset Management Co. MA purchased a new position in Lendingtree Inc (NASDAQ:TREE) during the first quarter, Holdings Channel reports. The fund purchased 5,641 shares of the financial services provider’s stock, valued at approximately $707,000.
Several other hedge funds also recently modified their holdings of the company. ARK Investment Management LLC bought a new stake in shares of Lendingtree during the fourth quarter worth approximately $3,463,000. Osterweis Capital Management Inc. boosted its stake in shares of Lendingtree by 98.3% in the fourth quarter. Osterweis Capital Management Inc. now owns 25,007 shares of the financial services provider’s stock worth $2,534,000 after buying an additional 12,397 shares in the last quarter. Allianz Asset Management AG boosted its stake in shares of Lendingtree by 16.8% in the fourth quarter. Allianz Asset Management AG now owns 288,146 shares of the financial services provider’s stock worth $29,204,000 after buying an additional 41,512 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Lendingtree during the fourth quarter worth $892,000. Finally, Brown Advisory Inc. purchased a new position in shares of Lendingtree during the fourth quarter worth $321,000. 79.66% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lendingtree Inc (NASDAQ:TREE) traded up 2.80% during trading on Friday, reaching $157.65. 160,949 shares of the company were exchanged. The company’s 50-day moving average is $135.28 and its 200 day moving average is $114.56. Lendingtree Inc has a 1-year low of $69.40 and a 1-year high of $159.75. The firm has a market capitalization of $1.88 billion, a PE ratio of 71.27 and a beta of 1.49.
Lendingtree (NASDAQ:TREE) last announced its earnings results on Thursday, April 27th. The financial services provider reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.27. The company had revenue of $132.50 million during the quarter, compared to the consensus estimate of $124.99 million. Lendingtree had a net margin of 14.43% and a return on equity of 26.82%. Lendingtree’s revenue was up 39.9% compared to the same quarter last year. During the same period last year, the firm earned $0.76 earnings per share. Equities research analysts expect that Lendingtree Inc will post $3.79 EPS for the current fiscal year.
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A number of equities analysts recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Lendingtree from $120.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, February 24th. Oppenheimer Holdings Inc. assumed coverage on shares of Lendingtree in a report on Tuesday, February 7th. They issued an “outperform” rating and a $129.00 price objective for the company. Mizuho boosted their price objective on shares of Lendingtree from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, February 24th. Needham & Company LLC boosted their price objective on shares of Lendingtree from $140.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Finally, Zacks Investment Research lowered shares of Lendingtree from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 8th. One equities research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $144.26.
In other Lendingtree news, CEO Douglas R. Lebda sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $113.11, for a total value of $452,440.00. Following the completion of the sale, the chief executive officer now directly owns 672,896 shares in the company, valued at $76,111,266.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Douglas R. Lebda sold 20,355 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $142.62, for a total transaction of $2,903,030.10. Following the completion of the sale, the chief executive officer now owns 627,489 shares of the company’s stock, valued at $89,492,481.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 176,065 shares of company stock valued at $23,827,109. 22.00% of the stock is owned by insiders.
LendingTree, Inc (LendingTree) is engaged in operating an online loan marketplace for consumers seeking loans and other credit-based offerings. The Company’s online marketplace provides consumers with access to product offerings from various lenders, which it refers to as Network Lenders, including mortgage loans, home equity loans and lines of credit, reverse mortgage loans, auto loans, credit cards, personal loans, student loans, small business loans and other related offerings.
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