Bank of New York Mellon Corp Sells 8,900 Shares of Lendingtree Inc (TREE)

Bank of New York Mellon Corp lowered its stake in Lendingtree Inc (NASDAQ:TREE) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,917 shares of the financial services provider’s stock after selling 8,900 shares during the quarter. Bank of New York Mellon Corp owned about 0.76% of Lendingtree worth $30,954,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TREE. Eagle Asset Management Inc. lifted its holdings in Lendingtree by 738.0% in the 4th quarter. Eagle Asset Management Inc. now owns 143,850 shares of the financial services provider’s stock valued at $48,974,000 after acquiring an additional 126,684 shares during the last quarter. Davidson Kempner Capital Management LP acquired a new stake in Lendingtree during the 3rd quarter worth about $28,550,000. Macquarie Group Ltd. raised its holdings in Lendingtree by 55.6% during the 3rd quarter. Macquarie Group Ltd. now owns 221,383 shares of the financial services provider’s stock worth $54,117,000 after buying an additional 79,065 shares during the period. IFG Advisory LLC acquired a new stake in Lendingtree during the 4th quarter worth about $1,723,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Lendingtree by 38.7% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 179,800 shares of the financial services provider’s stock worth $43,952,000 after buying an additional 50,200 shares during the period. 77.02% of the stock is owned by institutional investors and hedge funds.

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In other Lendingtree news, Director Gabriel Dalporto sold 46,876 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $340.07, for a total transaction of $15,941,121.32. Following the completion of the sale, the director now owns 47,513 shares of the company’s stock, valued at $16,157,745.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas R. Lebda sold 14,750 shares of the stock in a transaction that occurred on Thursday, April 5th. The shares were sold at an average price of $323.22, for a total value of $4,767,495.00. Following the completion of the sale, the chief executive officer now directly owns 517,706 shares of the company’s stock, valued at $167,332,933.32. The disclosure for this sale can be found here. Insiders have sold 103,154 shares of company stock valued at $34,695,232 in the last ninety days. Company insiders own 21.90% of the company’s stock.

NASDAQ:TREE traded up $3.15 during mid-day trading on Friday, reaching $322.80. The stock had a trading volume of 240,687 shares, compared to its average volume of 171,712. The company has a market capitalization of $3,913.72, a P/E ratio of 106.89, a P/E/G ratio of 1.91 and a beta of 1.73. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.97 and a current ratio of 2.97. Lendingtree Inc has a fifty-two week low of $116.70 and a fifty-two week high of $404.40.

Lendingtree (NASDAQ:TREE) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.06). The company had revenue of $161.00 million for the quarter, compared to the consensus estimate of $150.25 million. Lendingtree had a return on equity of 14.67% and a net margin of 2.52%. The firm’s revenue for the quarter was up 59.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 EPS. sell-side analysts forecast that Lendingtree Inc will post 4.11 earnings per share for the current fiscal year.

Lendingtree announced that its board has authorized a stock repurchase plan on Thursday, February 22nd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Several analysts have issued reports on TREE shares. Oppenheimer boosted their price objective on Lendingtree from $340.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, December 14th. Needham & Company LLC boosted their price objective on Lendingtree from $300.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday, December 14th. Northland Securities reiterated a “buy” rating and issued a $340.00 target price on shares of Lendingtree in a report on Thursday, December 14th. BidaskClub upgraded Lendingtree from a “buy” rating to a “strong-buy” rating in a report on Friday, December 15th. Finally, Guggenheim set a $360.00 target price on Lendingtree and gave the company a “buy” rating in a report on Thursday, December 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $327.33.

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Lendingtree Profile

LendingTree, Inc, through its subsidiary, LendingTree, LLC, operates an online loan marketplace for consumers seeking loans and other credit-based offerings in the United States. Its mortgage products comprise purchase and refinance products. The company also provides information, tools, and access to various conditional loan offers for non-mortgage products, including auto loans, credit cards, home equity loans, personal loans, reverse mortgages, small business loans, and student loans.

Institutional Ownership by Quarter for Lendingtree (NASDAQ:TREE)

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