Lendingtree Inc (TREE) Position Reduced by Advisory Services Network LLC

Advisory Services Network LLC trimmed its position in shares of Lendingtree Inc (NASDAQ:TREE) by 5.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,825 shares of the financial services provider’s stock after selling 415 shares during the quarter. Advisory Services Network LLC owned about 0.05% of Lendingtree worth $1,570,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Macquarie Group Ltd. grew its position in Lendingtree by 84.2% during the 2nd quarter. Macquarie Group Ltd. now owns 353,187 shares of the financial services provider’s stock valued at $75,511,000 after purchasing an additional 161,407 shares during the last quarter. Keybank National Association OH grew its position in Lendingtree by 45.3% during the 2nd quarter. Keybank National Association OH now owns 4,510 shares of the financial services provider’s stock valued at $964,000 after purchasing an additional 1,407 shares during the last quarter. Granahan Investment Management Inc. MA grew its position in Lendingtree by 337.4% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 41,171 shares of the financial services provider’s stock valued at $8,802,000 after purchasing an additional 31,758 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its position in Lendingtree by 13.4% during the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 288,020 shares of the financial services provider’s stock valued at $61,578,000 after purchasing an additional 33,935 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in Lendingtree by 35.4% during the 2nd quarter. Schroder Investment Management Group now owns 2,134 shares of the financial services provider’s stock valued at $448,000 after purchasing an additional 558 shares during the last quarter. 84.72% of the stock is currently owned by institutional investors.

Shares of NASDAQ TREE opened at $255.78 on Wednesday. The company has a current ratio of 3.33, a quick ratio of 3.59 and a debt-to-equity ratio of 0.66. The stock has a market cap of $3.36 billion, a PE ratio of 84.70, a P/E/G ratio of 1.73 and a beta of 2.10. Lendingtree Inc has a 52-week low of $183.25 and a 52-week high of $404.40.

Lendingtree (NASDAQ:TREE) last announced its quarterly earnings results on Thursday, November 1st. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.61. The firm had revenue of $197.10 million for the quarter, compared to the consensus estimate of $199.28 million. Lendingtree had a net margin of 12.73% and a return on equity of 12.86%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.17 EPS. On average, equities research analysts forecast that Lendingtree Inc will post 3.62 earnings per share for the current fiscal year.

TREE has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Lendingtree from a “hold” rating to a “buy” rating and set a $253.00 price objective on the stock in a research report on Tuesday, September 25th. BidaskClub raised shares of Lendingtree from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. Deutsche Bank cut their price objective on shares of Lendingtree from $290.00 to $270.00 and set a “hold” rating on the stock in a research report on Thursday, August 16th. Northland Securities downgraded shares of Lendingtree from an “outperform” rating to a “market perform” rating in a research report on Friday, July 27th. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Lendingtree in a research report on Friday, July 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $330.13.

In other news, Director Steven Ozonian sold 975 shares of the firm’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $247.83, for a total transaction of $241,634.25. Following the sale, the director now owns 7,344 shares of the company’s stock, valued at approximately $1,820,063.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 20.50% of the company’s stock.

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About Lendingtree

LendingTree, Inc engages in the operation of online loan marketplace for consumers seeking loans and other credit-based offerings. It provides mortgage loans, home equity, reverse mortgage, auto loans, credit cards, personal loans, student loans, and small business loans. The company was founded Douglas Lebda in April 2008 and is headquartered in Charlotte, NC.

Further Reading: Technical Analysis of Stocks, How Can It Help

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Institutional Ownership by Quarter for Lendingtree (NASDAQ:TREE)

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