Peregrine Asset Advisers Inc. purchased a new position in shares of Lendingtree Inc (NASDAQ:TREE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,000 shares of the financial services provider’s stock, valued at approximately $420,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meridian Wealth Management LLC bought a new position in Lendingtree during the 1st quarter worth $35,000. FNY Investment Advisers LLC acquired a new stake in Lendingtree during the 2nd quarter worth about $79,000. Strs Ohio acquired a new stake in Lendingtree during the 1st quarter worth about $140,000. Tocqueville Asset Management L.P. acquired a new stake in Lendingtree during the 2nd quarter worth about $210,000. Finally, Sompo Japan Nipponkoa Asset Management CO. LTD. acquired a new stake in Lendingtree during the 2nd quarter worth about $231,000. Hedge funds and other institutional investors own 77.15% of the company’s stock.
In related news, insider Sushil Sharma sold 2,128 shares of Lendingtree stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $317.03, for a total value of $674,639.84. Following the completion of the transaction, the insider now directly owns 8,097 shares in the company, valued at approximately $2,566,991.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter Horan sold 1,000 shares of Lendingtree stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $312.65, for a total transaction of $312,650.00. Following the completion of the transaction, the director now owns 20,088 shares of the company’s stock, valued at $6,280,513.20. The disclosure for this sale can be found here. Insiders sold a total of 49,851 shares of company stock worth $20,057,230 in the last ninety days. 17.90% of the stock is currently owned by insiders.
A number of brokerages have weighed in on TREE. Susquehanna Bancshares upgraded Lendingtree from a “neutral” rating to a “positive” rating in a report on Thursday, July 25th. TheStreet downgraded Lendingtree from a “b” rating to a “c+” rating in a research note on Monday, July 29th. Compass Point reaffirmed a “buy” rating and issued a $345.00 price target (up previously from $305.00) on shares of Lendingtree in a research report on Tuesday, April 30th. SunTrust Banks set a $350.00 price target on shares of Lendingtree and gave the company a “hold” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada cut shares of Lendingtree from an “outperform” rating to a “sector perform” rating and set a $415.00 price target on the stock. in a research report on Monday, July 1st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $358.67.
Shares of NASDAQ:TREE traded down $10.97 during mid-day trading on Friday, reaching $298.66. The company had a trading volume of 140,447 shares, compared to its average volume of 257,952. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.69. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 33.63, a PEG ratio of 10.63 and a beta of 2.18. The company’s 50-day moving average price is $355.86 and its 200-day moving average price is $359.98. Lendingtree Inc has a one year low of $183.25 and a one year high of $434.94.
Lendingtree (NASDAQ:TREE) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.50. The company had revenue of $278.40 million for the quarter, compared to analysts’ expectations of $267.46 million. Lendingtree had a net margin of 3.63% and a return on equity of 12.54%. Lendingtree’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.47 EPS. On average, research analysts anticipate that Lendingtree Inc will post 1.22 EPS for the current fiscal year.
LendingTree, Inc, through its subsidiary, LendingTree, LLC, operates an online loan marketplace for consumers seeking loans 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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