Tree.com Inc. (TREE) Shares Up 5.6%
Shares of Tree.com Inc. (NASDAQ:TREE) shot up 5.6% during trading on Tuesday . The stock traded as high as $109.30 and last traded at $108.11, with a volume of 631,538 shares trading hands. The stock had previously closed at $102.33.
Several brokerages have recently commented on TREE. Needham & Company LLC restated a “buy” rating on shares of Tree.com in a research report on Monday, June 27th. Zacks Investment Research downgraded shares of Tree.com from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Royal Bank Of Canada restated a “buy” rating and set a $150.00 price objective on shares of Tree.com in a research report on Wednesday, May 4th. TheStreet downgraded shares of Tree.com from a “buy” rating to a “hold” rating in a research report on Monday, May 9th. Finally, Mizuho raised their price objective on shares of Tree.com from $110.00 to $122.00 and gave the company a “buy” rating in a research report on Friday, July 29th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $129.30.
The company has a 50-day moving average price of $102.11 and a 200 day moving average price of $88.36. The firm has a market capitalization of $1.21 billion and a price-to-earnings ratio of 25.47.
Tree.com (NASDAQ:TREE) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.72 by $0.20. The business earned $94.30 million during the quarter, compared to analysts’ expectations of $95.48 million. During the same period last year, the company earned $0.63 earnings per share. The firm’s revenue was up 71.1% on a year-over-year basis. Equities analysts anticipate that Tree.com Inc. will post $3.29 earnings per share for the current fiscal year.
In other news, COO Nikul Patel sold 2,500 shares of the company’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $88.17, for a total value of $220,425.00. Following the sale, the chief operating officer now directly owns 30,500 shares of the company’s stock, valued at approximately $2,689,185. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of hedge funds have recently made changes to their positions in the company. Bank of Montreal Can purchased a new stake in shares of Tree.com during the fourth quarter worth about $14,896,000. RS Investment Management Co. LLC purchased a new stake in shares of Tree.com during the fourth quarter worth about $12,783,000. Schwab Charles Investment Management Inc. increased its stake in shares of 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. Finally, Marshall Wace LLP purchased a new stake in shares of Tree.com during the fourth quarter worth about $1,713,000.
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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