Global X MANAGEMENT CO LLC increased its stake in LendingTree, Inc. (NASDAQ:TREE) by 55.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,813 shares of the financial services provider’s stock after buying an additional 1,000 shares during the quarter. Global X MANAGEMENT CO LLC’s holdings in LendingTree were worth $688,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its position in LendingTree by 2,685.7% in the second quarter. Meeder Asset Management Inc. now owns 780 shares of the financial services provider’s stock worth $135,000 after buying an additional 752 shares during the last quarter. SG Americas Securities LLC bought a new stake in LendingTree in the second quarter worth $148,000. Aperio Group LLC bought a new stake in LendingTree in the third quarter worth $201,000. Seven Eight Capital LP bought a new stake in LendingTree in the second quarter worth $207,000. Finally, Profund Advisors LLC bought a new stake in LendingTree in the second quarter worth $210,000. Institutional investors own 71.20% of the company’s stock.
In related news, CEO Douglas R. Lebda sold 16,000 shares of LendingTree stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $275.00, for a total value of $4,400,000.00. Following the completion of the sale, the chief executive officer now directly owns 453,418 shares in the company, valued at $124,689,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Neil Salvage sold 1,500 shares of LendingTree stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $267.08, for a total value of $400,620.00. Following the completion of the sale, the president now owns 12,907 shares of the company’s stock, valued at $3,447,201.56. The disclosure for this sale can be found here. Insiders sold 53,810 shares of company stock valued at $13,965,428 over the last 90 days. 21.90% of the stock is currently owned by corporate insiders.
Shares of LendingTree, Inc. (NASDAQ:TREE) opened at $279.40 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.86 and a current ratio of 3.86. The firm has a market capitalization of $3,251.92, a price-to-earnings ratio of 82.58, a PEG ratio of 2.77 and a beta of 1.51. LendingTree, Inc. has a 52-week low of $92.85 and a 52-week high of $281.80.
LendingTree (NASDAQ:TREE) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.20. The firm had revenue of $171.50 million during the quarter, compared to the consensus estimate of $157.97 million. LendingTree had a return on equity of 16.52% and a net margin of 5.49%. The firm’s quarterly revenue was up 81.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 earnings per share. equities research analysts predict that LendingTree, Inc. will post 3.06 EPS for the current year.
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TREE has been the subject of a number of analyst reports. Zacks Investment Research downgraded LendingTree from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Oppenheimer Holdings, Inc. raised their price target on LendingTree from $245.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Royal Bank Of Canada raised their price target on LendingTree from $160.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Northland Securities restated a “buy” rating and issued a $150.00 price target on shares of LendingTree in a research report on Tuesday, July 25th. Finally, Stephens restated an “overweight” rating and issued a $250.00 price target (up from $200.00) on shares of LendingTree in a research report on Sunday, July 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $247.08.
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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