LendingTree, Inc. (NASDAQ:TREE)‘s stock had its “outperform” rating reaffirmed by investment analysts at Citigroup Inc. in a report released on Friday, October 27th, The Fly reports. They currently have a $290.00 price objective on the financial services provider’s stock. Citigroup Inc.’s price target points to a potential upside of 12.51% from the company’s previous close.
A number of other research firms have also weighed in on TREE. Zacks Investment Research lowered LendingTree from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Royal Bank of Canada boosted their target price on shares of LendingTree from $160.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Northland Securities restated a “buy” rating and issued a $150.00 price objective on shares of LendingTree in a research note on Tuesday, July 25th. Stephens reiterated an “overweight” rating and set a $250.00 target price (up previously from $200.00) on shares of LendingTree in a research note on Sunday, July 30th. Finally, Bank of America Corporation increased their target price on shares of LendingTree from $250.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $247.08.
Shares of LendingTree (NASDAQ TREE) traded down $0.50 during trading on Friday, hitting $257.75. The stock had a trading volume of 94,600 shares, compared to its average volume of 189,644. The firm has a market cap of $3,090.94, a PE ratio of 78.50, a P/E/G ratio of 2.63 and a beta of 1.51. LendingTree has a fifty-two week low of $87.16 and a fifty-two week high of $280.80. 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 (NASDAQ:TREE) last announced its earnings results on Thursday, October 26th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.20. The company had revenue of $171.50 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.80 earnings per share. research analysts forecast that LendingTree will post 3.06 earnings per share for the current fiscal year.
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In other LendingTree news, Director Peter Horan sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $226.90, for a total transaction of $453,800.00. Following the sale, the director now directly owns 31,624 shares in the company, valued at approximately $7,175,485.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven Ozonian sold 2,850 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $223.05, for a total transaction of $635,692.50. Following the sale, the director now owns 14,029 shares in the company, valued at $3,129,168.45. The disclosure for this sale can be found here. Insiders have sold a total of 51,810 shares of company stock worth $13,425,828 in the last ninety days. 21.90% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. raised its holdings in shares of LendingTree by 61.7% during the third quarter. Advisor Group Inc. now owns 527 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 201 shares during the period. Meeder Asset Management Inc. grew its position in LendingTree by 2,685.7% during the second quarter. Meeder Asset Management Inc. now owns 780 shares of the financial services provider’s stock valued at $135,000 after purchasing an additional 752 shares in the last quarter. Aperio Group LLC purchased a new position in LendingTree during the third quarter valued at approximately $201,000. SG Americas Securities LLC purchased a new position in LendingTree during the second quarter valued at approximately $148,000. Finally, Amalgamated Bank bought a new stake in LendingTree in the third quarter worth approximately $217,000. Institutional investors and hedge funds own 70.55% of the company’s stock.
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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