Tree.com Inc. (TREE) Shares Up 3.4%
Tree.com Inc. (NASDAQ:TREE) shares shot up 3.4% on Friday . The stock traded as high as $98.76 and last traded at $98.17, with a volume of 260,717 shares. The stock had previously closed at $94.93.
Several research firms have recently weighed in on TREE. Needham & Company LLC restated a “buy” rating on shares of Tree.com in a research note on Monday, June 27th. Royal Bank Of Canada restated a “buy” rating on shares of Tree.com in a research note on Thursday, June 16th. Compass Point initiated coverage on Tree.com in a research note on Thursday, June 2nd. They issued a “buy” rating and a $100.00 price target for the company. Bank of America Corp. reiterated a “buy” rating and set a $115.00 price objective on shares of Tree.com in a research report on Friday, May 27th. Finally, Zacks Investment Research cut Tree.com from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $122.38.
The company has a 50 day moving average price of $87.81 and a 200 day moving average price of $83.06. The company has a market capitalization of $1.16 billion and a price-to-earnings ratio of 25.47.
Tree.com (NASDAQ:TREE) last posted its quarterly earnings data on Wednesday, May 4th. The company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.05. During the same period in the previous year, the business earned $0.65 EPS. The business earned $94.70 million during the quarter, compared to analyst estimates of $86.58 million. The firm’s revenue for the quarter was up 86.1% compared to the same quarter last year. On average, equities analysts expect that Tree.com Inc. will post $3.08 EPS for the current year.
In other Tree.com news, CEO Douglas R. Lebda acquired 5,000 shares of the stock in a transaction dated Friday, May 13th. The stock was purchased at an average price of $67.67 per share, with a total value of $338,350.00. Following the transaction, the chief executive officer now directly owns 1,710,069 shares of the company’s stock, valued at $115,720,369.23. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Nikul Patel sold 2,500 shares of the firm’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 completion of the sale, the chief operating officer now directly owns 30,500 shares of the company’s stock, valued at approximately $2,689,185. The disclosure for this sale can be found here.
Several hedge funds have bought and sold shares of TREE. Bank of Montreal Can acquired a new stake in Tree.com during the fourth quarter worth $14,896,000. OppenheimerFunds Inc. acquired a new stake in Tree.com during the fourth quarter worth $7,605,000. Wells Fargo & Company MN boosted its stake in Tree.com by 42.7% in the fourth quarter. Wells Fargo & Company MN now owns 260,023 shares of the company’s stock worth $23,215,000 after buying an additional 77,863 shares during the last quarter. Trexquant Investment LP acquired a new stake in Tree.com during the fourth quarter worth $3,585,000. Finally, First Trust Advisors LP acquired a new stake in Tree.com during the fourth quarter worth $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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