Rhumbline Advisers Increases Stock Holdings in LendingTree, Inc. (NASDAQ:TREE)

Rhumbline Advisers boosted its holdings in LendingTree, Inc. (NASDAQ:TREE) by 4.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,879 shares of the financial services provider’s stock after purchasing an additional 698 shares during the period. Rhumbline Advisers owned about 0.11% of LendingTree worth $748,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TREE. New Age Alpha Advisors LLC purchased a new position in LendingTree in the fourth quarter worth $36,000. Tower Research Capital LLC TRC boosted its position in LendingTree by 248.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,190 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 848 shares during the last quarter. Wealthfront Advisers LLC purchased a new position in LendingTree in the fourth quarter worth $54,000. CANADA LIFE ASSURANCE Co purchased a new position in LendingTree in the fourth quarter worth $56,000. Finally, KLP Kapitalforvaltning AS purchased a new position in LendingTree in the fourth quarter worth $70,000. Hedge funds and other institutional investors own 68.26% of the company’s stock.

LendingTree Stock Up 0.8%

Shares of NASDAQ TREE opened at $34.87 on Friday. The company has a debt-to-equity ratio of 3.74, a current ratio of 1.20 and a quick ratio of 1.20. LendingTree, Inc. has a one year low of $33.50 and a one year high of $62.49. The stock has a market capitalization of $471.79 million, a PE ratio of -8.44 and a beta of 1.61. The business’s fifty day moving average price is $39.73 and its 200-day moving average price is $42.19.

LendingTree (NASDAQ:TREE) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.25. LendingTree had a positive return on equity of 14.76% and a negative net margin of 5.67%. The company had revenue of $239.70 million for the quarter, compared to analyst estimates of $244.93 million. LendingTree’s revenue was up 42.8% on a year-over-year basis. On average, equities research analysts anticipate that LendingTree, Inc. will post 0.48 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Truist Financial cut their price objective on LendingTree from $72.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Wall Street Zen cut LendingTree from a “buy” rating to a “hold” rating in a research report on Sunday, May 11th. Keefe, Bruyette & Woods dropped their price target on LendingTree from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Needham & Company LLC dropped their price target on LendingTree from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Finally, Stephens reaffirmed an “overweight” rating and set a $69.00 price target on shares of LendingTree in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, LendingTree has an average rating of “Moderate Buy” and an average price target of $64.13.

Insiders Place Their Bets

In other LendingTree news, General Counsel Heather Enlow-Novitsky sold 1,250 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $36.24, for a total value of $45,300.00. Following the transaction, the general counsel now directly owns 2,028 shares in the company, valued at $73,494.72. This represents a 38.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 23.10% of the company’s stock.

LendingTree 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.