Tree.com Inc. (TREE) Sees Strong Trading Volume
Tree.com Inc. (NASDAQ:TREE) saw an uptick in trading volume on Thursday . 351,718 shares were traded during trading, an increase of 18% from the previous session’s volume of 298,445 shares.The stock last traded at $103.51 and had previously closed at $102.56.
A number of analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Tree.com in a research report on Monday, May 2nd. Compass Point increased their price objective on shares of Tree.com from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Mizuho increased their price objective on shares of Tree.com from $110.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Vetr raised shares of Tree.com from a “hold” rating to a “buy” rating and set a $118.86 price objective on the stock in a research report on Monday, August 8th. Finally, RBC Capital Markets reissued a “buy” rating and issued a $150.00 price objective on shares of Tree.com in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $129.30.
The stock’s 50-day moving average price is $102.31 and its 200-day moving average price is $88.46. The firm has a market cap of $1.21 billion and a PE ratio of 25.43.
Tree.com (NASDAQ:TREE) last issued its earnings results on Thursday, July 28th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.20. The firm had revenue of $94.30 million for the quarter, compared to analysts’ expectations of $95.48 million. During the same period last year, the firm earned $0.63 earnings per share. Tree.com’s revenue for the quarter was up 71.1% on a year-over-year basis. Analysts predict that Tree.com Inc. will post $3.29 EPS for the current year.
In other Tree.com news, COO Nikul Patel sold 2,500 shares of Tree.com 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 transaction, the chief operating officer now directly owns 30,500 shares of the company’s stock, valued at $2,689,185. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Several large investors recently added to or reduced their stakes in the stock. Marshall Wace LLP bought a new stake in Tree.com during the fourth quarter worth about $1,713,000. Schwab Charles Investment Management Inc. increased its stake in Tree.com by 9.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 23,498 shares of the company’s stock worth $2,098,000 after buying an additional 1,974 shares during the period. Bank of Montreal Can bought a new stake in Tree.com during the fourth quarter worth about $14,896,000. Finally, RS Investment Management Co. LLC bought a new stake in Tree.com during the fourth quarter worth about $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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