Schwab Charles Investment Management Inc. lifted its position in Lendingtree Inc (NASDAQ:TREE) by 5.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,435 shares of the financial services provider’s stock after buying an additional 1,862 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.28% of Lendingtree worth $8,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Lendingtree by 45.6% in the second quarter. Vanguard Group Inc. now owns 536,197 shares of the financial services provider’s stock worth $92,333,000 after purchasing an additional 167,933 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of Lendingtree in the second quarter worth about $26,693,000. Baillie Gifford & Co. increased its holdings in shares of Lendingtree by 39.7% in the second quarter. Baillie Gifford & Co. now owns 336,171 shares of the financial services provider’s stock worth $57,889,000 after purchasing an additional 95,471 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of Lendingtree by 55.6% in the third quarter. Macquarie Group Ltd. now owns 221,383 shares of the financial services provider’s stock worth $54,117,000 after purchasing an additional 79,065 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Lendingtree by 38.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 179,800 shares of the financial services provider’s stock worth $43,952,000 after purchasing an additional 50,200 shares during the last quarter. 71.68% of the stock is currently owned by institutional investors.
Lendingtree Inc (NASDAQ TREE) opened at $372.75 on Thursday. The stock has a market capitalization of $4,460.00, a price-to-earnings ratio of 147.33, a PEG ratio of 2.16 and a beta of 1.54. The company has a current ratio of 3.86, a quick ratio of 3.86 and a debt-to-equity ratio of 0.78. Lendingtree Inc has a 12-month low of $103.80 and a 12-month high of $374.50.
Lendingtree (NASDAQ:TREE) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.20. The business had revenue of $171.50 million for 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 business’s quarterly revenue was up 81.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 earnings per share. equities research analysts anticipate that Lendingtree Inc will post 3.06 EPS for the current year.
In other Lendingtree news, CEO Douglas R. Lebda sold 16,000 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $275.00, for a total value of $4,400,000.00. Following the sale, the chief executive officer now directly owns 453,418 shares of the company’s stock, valued at $124,689,950. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nikul Patel sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the sale, the insider now directly owns 4,953 shares in the company, valued at $1,485,900. The disclosure for this sale can be found here. Insiders have sold 125,374 shares of company stock worth $37,115,606 over the last three months. Corporate insiders own 21.90% of the company’s stock.
TREE has been the subject of several recent analyst reports. Stephens restated an “overweight” rating and set a $375.00 target price (up previously from $300.00) on shares of Lendingtree in a research report on Monday, December 18th. Zacks Investment Research lowered Lendingtree from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Guggenheim set a $360.00 target price on Lendingtree and gave the company a “buy” rating in a research report on Thursday, December 14th. BidaskClub raised shares of Lendingtree from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 15th. Finally, Needham & Company LLC lifted their price target on shares of Lendingtree from $300.00 to $375.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $278.08.
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Lendingtree Company Profile
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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