Tree.com Inc. (TREE) Stock Price Down 2.8%
Tree.com Inc. (NASDAQ:TREE) was down 2.8% during mid-day trading on Wednesday . The stock traded as low as $101.73 and last traded at $103.24, with a volume of 150,803 shares traded. The stock had previously closed at $106.24.
Several equities research analysts have issued reports on TREE shares. TheStreet cut 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 set a $115.00 target price on shares of Tree.com in a research note on Friday, May 27th. Zacks Investment Research raised Tree.com from a “hold” rating to a “strong-buy” rating and set a $103.00 target price for the company in a research note on Wednesday, April 27th. Royal Bank Of Canada reissued a “buy” rating on shares of Tree.com in a research note on Thursday, June 16th. Finally, Compass Point started coverage on Tree.com in a research note on Thursday, June 2nd. They set a “buy” rating and a $100.00 target price for the company. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $129.30.
The stock’s 50-day moving average price is $100.98 and its 200-day moving average price is $87.13. The company has a market capitalization of $1.21 billion and a PE ratio of 25.56.
Tree.com (NASDAQ:TREE) last posted its earnings results on Thursday, July 28th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.20. During the same period in the previous year, the company posted $0.63 EPS. The company earned $94.30 million during the quarter, compared to analysts’ expectations of $95.48 million. Tree.com’s quarterly revenue was up 71.1% compared to the same quarter last year. Equities research analysts anticipate that Tree.com Inc. will post $3.29 EPS for the current year.
In related news, COO Nikul Patel sold 2,500 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 30,500 shares of the company’s stock, valued at approximately $2,689,185. The transaction was disclosed in a filing with the SEC, which is available through this link.
Other large investors recently bought and sold shares of the company. Wells Fargo & Company MN raised 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. Redwood Investments LLC raised its position in shares of Tree.com by 55.2% in the fourth quarter. Redwood Investments LLC now owns 17,056 shares of the company’s stock worth $1,523,000 after buying an additional 6,067 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Tree.com during the fourth quarter worth $1,713,000. Bank of Montreal Can acquired a new position in shares of Tree.com during the fourth quarter worth $14,896,000. Finally, RS Investment Management Co. LLC acquired a new position in shares of Tree.com during the fourth quarter worth $12,783,000.
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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