Tree.com Inc. (TREE) Stock Price Up 3.4%
Tree.com Inc. (NASDAQ:TREE) shares rose 3.4% during trading on Friday . The company traded as high as $98.76 and last traded at $98.17, with a volume of 260,717 shares changing hands. The stock had previously closed at $94.93.
Several analysts have issued reports on the stock. Mizuho assumed coverage on shares of Tree.com in a research note on Tuesday, March 29th. They issued a “buy” rating and a $110.00 price objective for the company. Northland Securities reissued an “outperform” rating and issued a $120.00 price objective (up previously from $100.00) on shares of Tree.com in a research note on Monday, April 4th. TheStreet downgraded shares of Tree.com from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. Bank of America Corp. reissued a “buy” rating and issued a $115.00 price objective on shares of Tree.com in a research note on Friday, May 27th. Finally, Zacks Investment Research raised shares of Tree.com from a “hold” rating to a “strong-buy” rating and set a $103.00 price objective for the company in a research note on Wednesday, April 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. Tree.com presently has a consensus rating of “Buy” and an average target price of $122.38.
The stock’s 50-day moving average is $88.09 and its 200 day moving average is $83.13. The firm has a market cap of $1.16 billion and a P/E ratio of 25.47.
Tree.com (NASDAQ:TREE) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. The business had revenue of $94.70 million for the quarter, compared to analysts’ expectations of $86.58 million. During the same period in the prior year, the company posted $0.65 EPS. The firm’s revenue was up 86.1% on a year-over-year basis. On average, equities research analysts predict 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 dated Tuesday, June 7th. The shares were sold at an average price of $88.17, for a total transaction of $220,425.00. Following the completion of the sale, the chief operating officer now owns 30,500 shares of the company’s stock, valued at approximately $2,689,185. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas R. Lebda acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The shares were acquired at an average cost of $67.67 per share, with a total value of $338,350.00. Following the purchase, the chief executive officer now owns 1,710,069 shares in the company, valued at approximately $115,720,369.23. The disclosure for this purchase can be found here.
Other hedge funds have made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in shares of 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 in the last quarter. Bank of Montreal Can purchased a new stake in Tree.com during the fourth quarter valued at $14,896,000. OppenheimerFunds Inc. purchased a new stake in Tree.com during the fourth quarter valued at $7,605,000. Cornerstone Capital Management Holdings LLC. boosted its stake 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 period. Finally, Trexquant Investment LP purchased a new stake in Tree.com during the fourth quarter valued at $3,585,000.
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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