Northern Trust Corp Buys 6,011 Shares of LendingTree, Inc. (NASDAQ:TREE)

Northern Trust Corp raised its stake in LendingTree, Inc. (NASDAQ:TREE) by 6.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 94,889 shares of the financial services provider’s stock after buying an additional 6,011 shares during the period. Northern Trust Corp owned about 0.71% of LendingTree worth $3,677,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TREE. Empowered Funds LLC grew its position in shares of LendingTree by 4.9% in the 4th quarter. Empowered Funds LLC now owns 36,946 shares of the financial services provider’s stock valued at $1,432,000 after buying an additional 1,728 shares during the last quarter. Asset Management One Co. Ltd. grew its position in shares of LendingTree by 101.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,027 shares of the financial services provider’s stock valued at $80,000 after buying an additional 1,021 shares during the last quarter. Congress Asset Management Co. grew its position in shares of LendingTree by 13.4% in the 4th quarter. Congress Asset Management Co. now owns 24,808 shares of the financial services provider’s stock valued at $961,000 after buying an additional 2,923 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of LendingTree by 75.0% in the 4th quarter. New York State Common Retirement Fund now owns 4,707 shares of the financial services provider’s stock valued at $182,000 after buying an additional 2,017 shares during the last quarter. Finally, Ieq Capital LLC bought a new stake in shares of LendingTree during the 4th quarter valued at about $248,000. Institutional investors own 68.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods cut their target price on LendingTree from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Wall Street Zen lowered LendingTree from a “buy” rating to a “hold” rating in a research report on Sunday, May 11th. Needham & Company LLC cut their target price on LendingTree from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. upped their target price on LendingTree from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Finally, Truist Financial cut their target price on LendingTree from $72.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.13.

Insiders Place Their Bets

In related news, COO Scott Peyree acquired 21,045 shares of the stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $41.69 per share, with a total value of $877,366.05. Following the completion of the purchase, the chief operating officer now directly owns 76,760 shares in the company, valued at $3,200,124.40. This trade represents a 37.77% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 23.10% of the company’s stock.

LendingTree Stock Down 0.2%

Shares of NASDAQ:TREE opened at $35.38 on Friday. The business’s 50 day simple moving average is $45.34 and its two-hundred day simple moving average is $43.71. The firm has a market cap of $478.87 million, a P/E ratio of -13.10 and a beta of 1.76. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.92 and a current ratio of 0.92. LendingTree, Inc. has a 52-week low of $34.55 and a 52-week high of $62.49.

LendingTree (NASDAQ:TREE) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.25. The business had revenue of $239.70 million for the quarter, compared to analyst estimates of $244.93 million. LendingTree had a positive return on equity of 0.51% and a negative net margin of 4.72%. The company’s revenue was up 42.8% on a year-over-year basis. As a group, research analysts forecast that LendingTree, Inc. will post 0.48 EPS 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.