Tree.com Inc. (TREE) Sees Large Volume Increase
Tree.com Inc. (NASDAQ:TREE) saw unusually-strong trading volume on Thursday . Approximately 351,718 shares traded hands during mid-day 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 equities analysts have recently issued reports on TREE shares. TheStreet downgraded shares of Tree.com from a “buy” rating to a “hold” rating in a report on Monday, May 9th. Bank of America Corp. reiterated a “buy” rating and issued a $115.00 price target on shares of Tree.com in a report on Friday, May 27th. Royal Bank Of Canada reiterated a “buy” rating on shares of Tree.com in a report on Thursday, June 16th. Compass Point assumed coverage on shares of Tree.com in a report on Thursday, June 2nd. They set a “buy” rating and a $100.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating on shares of Tree.com in a report on Monday, June 27th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Tree.com presently has a consensus rating of “Buy” and an average target price of $129.30.
The firm has a market cap of $1.19 billion and a PE ratio of 25.00. The company’s 50-day moving average is $102.52 and its 200-day moving average is $88.78.
Tree.com (NASDAQ:TREE) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.72 by $0.20. During the same quarter last year, the firm posted $0.63 earnings per share. The business earned $94.30 million during the quarter, compared to the consensus estimate of $95.48 million. Tree.com’s revenue was up 71.1% compared to the same quarter last year. Equities research analysts expect that Tree.com Inc. will post $3.29 EPS for the current fiscal year.
In other Tree.com news, COO Nikul Patel sold 2,500 shares of the business’s stock in a transaction dated 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 in the company, valued at $2,689,185. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
A number of large investors have modified their holdings of the company. Schwab Charles Investment Management Inc. boosted 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 valued at $2,098,000 after buying an additional 1,974 shares during the period. RS Investment Management Co. LLC bought a new stake in Tree.com during the fourth quarter valued at about $12,783,000. Marshall Wace LLP bought a new stake in Tree.com during the fourth quarter valued at about $1,713,000. Finally, Bank of Montreal Can bought a new stake in Tree.com during the fourth quarter valued at about $14,896,000.
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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