Mirae Asset Global Investments Co. Ltd. Acquires 553 Shares of LendingTree, Inc. (NASDAQ:TREE)

Mirae Asset Global Investments Co. Ltd. grew its stake in LendingTree, Inc. (NASDAQ:TREE) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,280 shares of the financial services provider’s stock after purchasing an additional 553 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in LendingTree were worth $979,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Cornerstone Wealth Management LLC bought a new position in LendingTree during the fourth quarter worth about $252,000. Acadian Asset Management LLC boosted its stake in LendingTree by 21.2% during the 3rd quarter. Acadian Asset Management LLC now owns 90,014 shares of the financial services provider’s stock worth $1,393,000 after acquiring an additional 15,765 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in LendingTree by 26.5% during the third quarter. Assenagon Asset Management S.A. now owns 189,846 shares of the financial services provider’s stock valued at $2,943,000 after purchasing an additional 39,745 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in LendingTree by 0.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 345,292 shares of the financial services provider’s stock valued at $5,352,000 after purchasing an additional 2,952 shares in the last quarter. Finally, Shenkman Capital Management Inc. acquired a new stake in LendingTree in the third quarter worth $1,860,000. 68.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TREE. StockNews.com lowered shares of LendingTree from a “buy” rating to a “hold” rating in a report on Monday, March 25th. Oppenheimer boosted their target price on LendingTree from $25.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, January 8th. Needham & Company LLC raised their price target on LendingTree from $17.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Keefe, Bruyette & Woods upgraded LendingTree from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $24.00 to $45.00 in a research report on Wednesday, February 28th. Finally, Susquehanna raised their target price on shares of LendingTree from $15.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, LendingTree has an average rating of “Moderate Buy” and a consensus price target of $36.57.

LendingTree Stock Performance

Shares of LendingTree stock opened at $37.39 on Wednesday. The company has a debt-to-equity ratio of 4.23, a current ratio of 2.60 and a quick ratio of 2.60. The firm has a market cap of $487.57 million, a price-to-earnings ratio of -3.97 and a beta of 2.19. The stock’s 50-day moving average is $38.29 and its 200-day moving average is $28.42. LendingTree, Inc. has a one year low of $10.12 and a one year high of $44.51.

LendingTree (NASDAQ:TREE) last released its earnings results on Tuesday, February 27th. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.14 by $0.14. The firm had revenue of $134.40 million for the quarter, compared to analysts’ expectations of $135.55 million. LendingTree had a negative return on equity of 4.22% and a negative net margin of 18.20%. During the same quarter in the previous year, the business posted ($0.53) EPS. Equities analysts predict that LendingTree, Inc. will post -0.36 earnings per share for the current fiscal year.

LendingTree Company Profile

LendingTree, Inc, through its subsidiary, operates online consumer platform in the United States. It operates through three segments: Home, Consumer, and Insurance. The Home segment offers purchase mortgage, refinance mortgage, and home equity loans and lines of credit; and real estate brokerage services.