Lendingtree (TREE) Shares Down 8.1% After Insider Selling

Shares of Lendingtree Inc (NASDAQ:TREE) were down 8.1% on Tuesday following insider selling activity. The company traded as low as $224.35 and last traded at $226.80. Approximately 651,118 shares traded hands during mid-day trading, an increase of 168% from the average daily volume of 242,983 shares. The stock had previously closed at $246.75.

Specifically, CEO Douglas R. Lebda sold 14,750 shares of the business’s stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $324.56, for a total value of $4,787,260.00. Following the sale, the chief executive officer now owns 532,076 shares of the company’s stock, valued at approximately $172,690,586.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robin Henderson sold 270 shares of the business’s stock in a transaction on Thursday, June 7th. The stock was sold at an average price of $269.00, for a total value of $72,630.00. Following the completion of the sale, the director now directly owns 1,005 shares in the company, valued at approximately $270,345. The disclosure for this sale can be found here. Insiders have sold a total of 355,289 shares of company stock valued at $100,055,993 in the last quarter. 20.50% of the stock is currently owned by insiders.

A number of analysts have recently commented on TREE shares. BidaskClub downgraded Lendingtree from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 30th. UBS Group started coverage on Lendingtree in a research note on Tuesday, March 27th. They issued a “neutral” rating and a $375.00 price objective on the stock. Stephens boosted their price objective on Lendingtree from $385.00 to $420.00 and gave the stock an “overweight” rating in a research note on Monday, March 19th. They noted that the move was a valuation call. Deutsche Bank started coverage on Lendingtree in a research note on Wednesday, May 30th. They issued a “hold” rating on the stock. Finally, Zacks Investment Research raised Lendingtree from a “sell” rating to a “buy” rating and set a $362.00 price objective on the stock in a research note on Wednesday, April 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. Lendingtree presently has an average rating of “Hold” and an average price target of $343.07.

The stock has a market capitalization of $3.21 billion, a PE ratio of 81.71, a price-to-earnings-growth ratio of 2.10 and a beta of 1.80. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.73.

Lendingtree (NASDAQ:TREE) last announced its earnings results on Thursday, April 26th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.02). The company had revenue of $181.00 million for the quarter, compared to analyst estimates of $174.13 million. Lendingtree had a return on equity of 11.81% and a net margin of 6.04%. The firm’s revenue for the quarter was up 36.6% on a year-over-year basis. During the same period last year, the firm earned $0.85 earnings per share. equities research analysts predict that Lendingtree Inc will post 3.37 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. raised its position in shares of Lendingtree by 81.1% during the first quarter. Baillie Gifford & Co. now owns 1,266,717 shares of the financial services provider’s stock worth $415,673,000 after purchasing an additional 567,195 shares during the period. BlackRock Inc. raised its position in shares of Lendingtree by 1.8% during the fourth quarter. BlackRock Inc. now owns 880,746 shares of the financial services provider’s stock worth $299,851,000 after purchasing an additional 15,596 shares during the period. Allianz Asset Management GmbH raised its position in Lendingtree by 38.1% during the first quarter. Allianz Asset Management GmbH now owns 301,365 shares of the financial services provider’s stock valued at $98,893,000 after buying an additional 83,215 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in Lendingtree by 18.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 273,098 shares of the financial services provider’s stock valued at $89,617,000 after buying an additional 41,798 shares during the period. Finally, Eagle Asset Management Inc. raised its position in Lendingtree by 57.4% during the first quarter. Eagle Asset Management Inc. now owns 226,407 shares of the financial services provider’s stock valued at $74,295,000 after buying an additional 82,557 shares during the period. 78.25% of the stock is currently owned by institutional investors.

About Lendingtree

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.

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