Meeder Asset Management Inc. Sells 1,004 Shares of LendingTree, Inc. (NASDAQ:TREE)

Meeder Asset Management Inc. lowered its position in LendingTree, Inc. (NASDAQ:TREE) by 23.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,347 shares of the financial services provider’s stock after selling 1,004 shares during the quarter. Meeder Asset Management Inc.’s holdings in LendingTree were worth $168,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TREE. Raymond James Financial Inc. acquired a new position in shares of LendingTree in the 4th quarter worth approximately $1,254,000. American Century Companies Inc. raised its holdings in shares of LendingTree by 9.5% in the 4th quarter. American Century Companies Inc. now owns 22,318 shares of the financial services provider’s stock worth $865,000 after buying an additional 1,937 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of LendingTree in the 4th quarter worth approximately $70,000. New Age Alpha Advisors LLC acquired a new position in shares of LendingTree in the 4th quarter worth approximately $36,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of LendingTree in the 4th quarter worth approximately $518,000. Institutional investors own 68.26% of the company’s stock.

Analysts Set New Price Targets

TREE has been the subject of a number of recent research reports. Wall Street Zen cut LendingTree from a “buy” rating to a “hold” rating in a report on Sunday, May 11th. Truist Financial dropped their target price on LendingTree from $72.00 to $60.00 and set a “buy” rating for the company in a report on Monday, May 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 price target on shares of LendingTree in a report on Thursday, July 24th. Two 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.13.

Insider Activity at LendingTree

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

LendingTree Trading Down 1.9%

TREE stock opened at $46.55 on Thursday. The business has a fifty day moving average price of $37.91 and a 200 day moving average price of $42.30. LendingTree, Inc. has a fifty-two week low of $33.50 and a fifty-two week high of $62.49. The stock has a market capitalization of $629.82 million, a price-to-earnings ratio of -11.27 and a beta of 1.61. 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 (NASDAQ:TREE) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.25. The firm had revenue of $239.70 million during the quarter, compared to analysts’ expectations of $244.93 million. LendingTree had a positive return on equity of 14.76% and a negative net margin of 5.67%. LendingTree’s quarterly revenue was up 42.8% compared to the same quarter last year. Analysts expect 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.