Empowered Funds LLC acquired a new position in shares of LendingTree, Inc. (NASDAQ:TREE – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 25,105 shares of the financial services provider’s stock, valued at approximately $1,112,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of LendingTree by 1.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,899 shares of the financial services provider’s stock valued at $886,000 after purchasing an additional 301 shares in the last quarter. Swiss National Bank grew its holdings in shares of LendingTree by 2.2% in the fourth quarter. Swiss National Bank now owns 22,800 shares of the financial services provider’s stock valued at $1,210,000 after acquiring an additional 500 shares in the last quarter. Fifth Third Bancorp bought a new position in shares of LendingTree in the fourth quarter valued at approximately $32,000. Price T Rowe Associates Inc. MD increased its position in shares of LendingTree by 5.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,398 shares of the financial services provider’s stock valued at $606,000 after acquiring an additional 612 shares during the last quarter. Finally, Creative Planning lifted its holdings in LendingTree by 12.4% during the third quarter. Creative Planning now owns 6,450 shares of the financial services provider’s stock worth $418,000 after acquiring an additional 710 shares during the period. Hedge funds and other institutional investors own 68.26% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the company. Wall Street Zen raised LendingTree from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. Keefe, Bruyette & Woods decreased their price target on shares of LendingTree from $70.00 to $58.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LendingTree in a report on Wednesday, June 24th. Northland Securities set a $60.00 price objective on LendingTree in a research note on Thursday, July 30th. Finally, Truist Financial reduced their price objective on LendingTree from $78.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.33.
LendingTree Price Performance
TREE opened at $28.35 on Friday. The company has a market capitalization of $398.03 million, a price-to-earnings ratio of 2.20 and a beta of 2.05. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.20. The firm has a 50-day moving average price of $36.76 and a 200-day moving average price of $39.13. LendingTree, Inc. has a twelve month low of $27.07 and a twelve month high of $77.35.
LendingTree (NASDAQ:TREE – Get Free Report) last issued its earnings results on Wednesday, July 29th. The financial services provider reported $0.68 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.73). The company had revenue of $313.42 million during the quarter, compared to the consensus estimate of $315.56 million. LendingTree had a return on equity of 14.57% and a net margin of 14.33%.The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.13 EPS. Equities analysts expect that LendingTree, Inc. will post 3.49 EPS for the current year.
About LendingTree
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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