Tree.com Inc. (TREE) Trading Up 3.5%
Tree.com Inc. (NASDAQ:TREE)’s share price was up 3.5% during mid-day trading on Wednesday . The company traded as high as $100.12 and last traded at $99.49, with a volume of 548,767 shares. The stock had previously closed at $96.15.
A number of equities analysts have recently issued reports on TREE shares. Royal Bank Of Canada restated a “buy” rating on shares of Tree.com in a research report on Thursday, June 16th. Compass Point assumed coverage on shares of Tree.com in a research report on Thursday, June 2nd. They issued a “buy” rating and a $100.00 price objective on the stock. Bank of America Corp. reiterated a “buy” rating and issued a $115.00 price objective on shares of Tree.com in a research report on Friday, May 27th. Vetr lowered shares of Tree.com from a “strong-buy” rating to a “buy” rating and set a $100.50 price objective on the stock. in a research report on Thursday, March 31st. Finally, Mizuho assumed coverage on shares of Tree.com in a research report on Tuesday, March 29th. They issued a “buy” rating and a $110.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $122.38.
The firm has a market capitalization of $1.17 billion and a P/E ratio of 25.86. The company’s 50 day moving average price is $84.17 and its 200-day moving average price is $82.41.
Tree.com (NASDAQ:TREE) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.05. During the same period in the prior year, the company posted $0.65 earnings per share. The firm had revenue of $94.70 million for the quarter, compared to analyst estimates of $86.58 million. The business’s revenue was up 86.1% on a year-over-year basis. On average, analysts expect that Tree.com Inc. will post $3.08 EPS 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 transaction of $220,425.00. Following the completion of the transaction, the chief operating officer now directly owns 30,500 shares in the company, valued at approximately $2,689,185. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Douglas R. Lebda acquired 5,000 shares of the stock in a transaction that occurred on Friday, May 13th. The shares were bought at an average price of $67.67 per share, with a total value of $338,350.00. Following the completion of the purchase, 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 hedge funds and institutional investors have added to or reduced their stakes in the company. Wells Fargo & Company MN boosted 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. Bank of Montreal Can acquired a new position in Tree.com during the fourth quarter valued at about $14,896,000. Columbus Circle Investors boosted its position in Tree.com by 15.0% in the fourth quarter. Columbus Circle Investors now owns 127,599 shares of the company’s stock valued at $11,392,000 after buying an additional 16,598 shares during the last quarter. OppenheimerFunds Inc. acquired a new position in Tree.com during the fourth quarter valued at about $7,605,000. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in Tree.com by 63.3% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 44,248 shares of the company’s stock valued at $3,950,000 after buying an additional 17,148 shares during the last quarter.
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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