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.
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.
TRADEMARK VIOLATION NOTICE: This article was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this article on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The correct version of this article can be accessed at https://www.dispatchtribunal.com/2018/04/07/bank-of-new-york-mellon-corp-trims-position-in-lendingtree-inc-tree.html.
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.
Receive News & Ratings for Lendingtree Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lendingtree and related companies with MarketBeat.com's FREE daily email newsletter.