Lendingtree (NASDAQ:TREE) had its price objective raised by investment analysts at Stephens from $385.00 to $420.00 in a report issued on Monday. The firm presently has an “overweight” rating on the financial services provider’s stock. Stephens’ price target points to a potential upside of 8.71% from the stock’s previous close. The analysts noted that the move was a valuation call.
Other equities research analysts have also recently issued reports about the company. Guggenheim set a $360.00 target price on Lendingtree and gave the company a “buy” rating in a report on Thursday, December 14th. Northland Securities restated a “buy” rating and set a $340.00 target price on shares of Lendingtree in a report on Thursday, December 14th. Needham & Company LLC increased their target price on Lendingtree from $300.00 to $375.00 and gave the company a “buy” rating in a report on Thursday, December 14th. Bank of America reaffirmed a “buy” rating and set a $425.00 price target on shares of Lendingtree in a research report on Tuesday, January 23rd. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $385.00 price target on shares of Lendingtree in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $311.33.
Shares of Lendingtree stock opened at $386.35 on Monday. The firm has a market capitalization of $4,650.79, a PE ratio of 361.07, a P/E/G ratio of 2.27 and a beta of 1.66. Lendingtree has a fifty-two week low of $115.50 and a fifty-two week high of $404.40. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 0.81.
Lendingtree (NASDAQ:TREE) last issued its earnings results on Thursday, February 22nd. The financial services provider reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.06). The company had revenue of $161.00 million for the quarter, compared to analysts’ expectations of $150.25 million. Lendingtree had a net margin of 2.52% and a return on equity of 14.67%. The company’s revenue was up 59.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 earnings per share. equities analysts predict that Lendingtree will post 4.11 earnings per share for the current fiscal year.
Lendingtree declared that its board has approved a share repurchase plan on Thursday, February 22nd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other news, President Neil Salvage sold 3,702 shares of the stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $357.16, for a total value of $1,322,206.32. Following the completion of the transaction, the president now owns 7,227 shares of the company’s stock, valued at approximately $2,581,195.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven Ozonian sold 300 shares of the stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $351.17, for a total value of $105,351.00. Following the completion of the transaction, the director now directly owns 8,303 shares of the company’s stock, valued at approximately $2,915,764.51. The disclosure for this sale can be found here. Insiders have sold a total of 93,654 shares of company stock valued at $31,962,877 in the last ninety days. 21.90% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in TREE. Ark Investment Management LLC raised its position in shares of Lendingtree by 18.6% in the 2nd quarter. Ark Investment Management LLC now owns 34,747 shares of the financial services provider’s stock worth $5,983,000 after acquiring an additional 5,450 shares in the last quarter. Aperio Group LLC bought a new position in shares of Lendingtree in the 3rd quarter worth approximately $201,000. American Century Companies Inc. bought a new position in shares of Lendingtree in the 3rd quarter worth approximately $2,666,000. Prudential Financial Inc. raised its position in shares of Lendingtree by 2.6% in the 3rd quarter. Prudential Financial Inc. now owns 12,820 shares of the financial services provider’s stock worth $3,134,000 after acquiring an additional 328 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Lendingtree by 2.9% in the 3rd quarter. Principal Financial Group Inc. now owns 57,007 shares of the financial services provider’s stock worth $13,935,000 after acquiring an additional 1,595 shares in the last quarter. 77.02% of the stock is owned by hedge funds and other institutional investors.
Lendingtree Company Profile
LendingTree, Inc (LendingTree) is engaged in operating an online loan marketplace for consumers seeking loans and other credit-based offerings. The Company’s online marketplace provides consumers with access to product offerings from various lenders, which it refers to as Network Lenders, including mortgage loans, home equity loans and lines of credit, reverse mortgage loans, auto loans, credit cards, personal loans, student loans, small business loans and other related offerings.
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