Tree.com Inc. (TREE) Sees Strong Trading Volume
Shares of Tree.com Inc. (NASDAQ:TREE) saw unusually-high trading volume on Wednesday . Approximately 1,061,582 shares were traded during trading, an increase of 65% from the previous session’s volume of 644,476 shares.The stock last traded at $97.98 and had previously closed at $92.11.
Several research analysts have weighed in on the company. Zacks Investment Research cut Tree.com from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 29th. Mizuho began coverage on Tree.com in a research report on Tuesday, March 29th. They set a “buy” rating and a $110.00 price target on the stock. Northland Securities reaffirmed an “outperform” rating and set a $120.00 price target (up previously from $100.00) on shares of Tree.com in a research report on Monday, April 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Tree.com in a research report on Monday, May 2nd. Finally, Compass Point began coverage on Tree.com in a research report on Thursday, June 2nd. They set a “buy” rating and a $100.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $122.38.
The stock has a 50-day moving average price of $81.28 and a 200-day moving average price of $82.29. The stock has a market cap of $1.13 billion and a PE ratio of 24.89.
Tree.com (NASDAQ:TREE) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. During the same period in the previous year, the company posted $0.65 earnings per share. The business had revenue of $94.70 million for the quarter, compared to analyst estimates of $86.58 million. The business’s revenue for the quarter was up 86.1% on a year-over-year basis. Analysts predict that Tree.com Inc. will post $3.08 earnings per share for the current year.
In related news, COO Nikul Patel sold 2,500 shares of the company’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $88.17, for a total value of $220,425.00. Following the transaction, the chief operating officer now directly owns 30,500 shares of the company’s stock, valued at approximately $2,689,185. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Douglas R. Lebda bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 13th. The stock was purchased at an average cost of $67.67 per share, for a total transaction of $338,350.00. Following the completion of the transaction, the chief executive officer now owns 1,710,069 shares in the company, valued at $115,720,369.23. The disclosure for this purchase can be found here.
Other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in Tree.com by 42.7% in the fourth quarter. Wells Fargo & Company MN now owns 260,023 shares of the company’s stock valued at $23,215,000 after buying an additional 77,863 shares during the last quarter. Trexquant Investment LP purchased a new position in Tree.com during the fourth quarter valued at about $3,585,000. EAM Investors LLC increased its position in Tree.com by 15.3% in the fourth quarter. EAM Investors LLC now owns 37,861 shares of the company’s stock valued at $3,380,000 after buying an additional 5,038 shares during the last quarter. California State Teachers Retirement System increased its position in Tree.com by 9.8% in the fourth quarter. California State Teachers Retirement System now owns 11,616 shares of the company’s stock valued at $1,037,000 after buying an additional 1,038 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in Tree.com during the fourth quarter valued at about $2,811,000.
LendingTree, Inc (LendingTree), formerly Tree.com, Inc, is engaged in operating an online loan marketplace for consumers. The Company offers a range of loan types and other credit-based offerings for its consumers. The Company operates through Lending activities segment. The Company’s online marketplace provides consumers with access to product offerings from various lenders, which it refers to as Network Lenders, including mortgage loans, home equity, reverse mortgage, auto loans, credit cards, personal loans, student loans and small business loans, and other related offerings.
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