Blue Grotto Capital LLC boosted its position in LendingTree, Inc. (NASDAQ:TREE – Free Report) by 64.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 584,931 shares of the financial services provider’s stock after acquiring an additional 228,858 shares during the period. LendingTree accounts for 3.2% of Blue Grotto Capital LLC’s holdings, making the stock its 16th largest holding. Blue Grotto Capital LLC’s holdings in LendingTree were worth $31,054,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. Panagora Asset Management Inc. grew its holdings in LendingTree by 447.4% in the 4th quarter. Panagora Asset Management Inc. now owns 45,057 shares of the financial services provider’s stock worth $2,392,000 after acquiring an additional 36,826 shares during the last quarter. Mariner LLC lifted its position in shares of LendingTree by 31.5% in the 4th quarter. Mariner LLC now owns 1,760,407 shares of the financial services provider’s stock worth $93,461,000 after purchasing an additional 421,826 shares during the period. Barclays PLC lifted its position in shares of LendingTree by 39.7% in the 4th quarter. Barclays PLC now owns 26,025 shares of the financial services provider’s stock worth $1,382,000 after purchasing an additional 7,395 shares during the period. Marshall Wace LLP lifted its position in shares of LendingTree by 9.5% in the 4th quarter. Marshall Wace LLP now owns 67,206 shares of the financial services provider’s stock worth $3,568,000 after purchasing an additional 5,846 shares during the period. Finally, State Street Corp lifted its position in shares of LendingTree by 4.4% in the 4th quarter. State Street Corp now owns 244,954 shares of the financial services provider’s stock worth $13,005,000 after purchasing an additional 10,304 shares during the period. Institutional investors own 68.26% of the company’s stock.
LendingTree Trading Up 1.7%
NASDAQ:TREE opened at $37.17 on Tuesday. LendingTree, Inc. has a one year low of $32.65 and a one year high of $77.35. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.89 and a quick ratio of 1.89. The company’s 50-day simple moving average is $40.64 and its 200 day simple moving average is $46.54. The firm has a market capitalization of $518.52 million, a P/E ratio of 2.89 and a beta of 2.04.
Analysts Set New Price Targets
Several equities research analysts have recently commented on TREE shares. JPMorgan Chase & Co. started coverage on shares of LendingTree in a research report on Tuesday, April 14th. They issued an “overweight” rating and a $50.00 target price for the company. Zacks Research raised shares of LendingTree from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. Truist Financial set a $78.00 target price on shares of LendingTree in a research report on Friday, May 1st. Wall Street Zen raised shares of LendingTree from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of LendingTree in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $68.60.
View Our Latest Stock Analysis on LendingTree
LendingTree Company Profile
LendingTree, Inc operates an online marketplace that connects consumers with a network of lenders and financial service providers. Through its platform, borrowers can compare loan offers for mortgages, home equity loans, personal loans, student loans, auto loans and small business financing. The company also offers tools for comparing credit cards and deposit accounts, allowing users to research rates and terms from a range of providers in one place.
Founded in 1996 by Doug Lebda, LendingTree pioneered the comparison-shopping model for consumer credit products.
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