Kornitzer Capital Management Inc. KS decreased its stake in shares of LendingTree, Inc. (NASDAQ:TREE) by 72.9% during the second quarter, Holdings Channel reports. The fund owned 2,600 shares of the financial services provider’s stock after selling 7,000 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in LendingTree were worth $448,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Meeder Asset Management Inc. increased its stake in shares of LendingTree by 2,685.7% in the second quarter. Meeder Asset Management Inc. now owns 780 shares of the financial services provider’s stock valued at $135,000 after buying an additional 752 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of LendingTree by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 800 shares of the financial services provider’s stock valued at $100,000 after buying an additional 20 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of LendingTree by 14.3% in the first quarter. BNP Paribas Arbitrage SA now owns 1,339 shares of the financial services provider’s stock valued at $168,000 after buying an additional 168 shares during the last quarter. Invictus RG acquired a new stake in shares of LendingTree during the first quarter valued at $179,000. Finally, LS Investment Advisors LLC increased its stake in shares of LendingTree by 482.9% in the first quarter. LS Investment Advisors LLC now owns 1,533 shares of the financial services provider’s stock valued at $192,000 after buying an additional 1,270 shares during the last quarter. 75.33% of the stock is currently owned by hedge funds and other institutional investors.

LendingTree, Inc. (TREE) opened at 229.30 on Wednesday. The firm has a market capitalization of $2.75 billion, a PE ratio of 107.05 and a beta of 1.58. The company has a 50 day moving average price of $185.81 and a 200-day moving average price of $144.20. LendingTree, Inc. has a one year low of $75.05 and a one year high of $235.30.

LendingTree (NASDAQ:TREE) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.17. The company had revenue of $152.80 million for the quarter, compared to the consensus estimate of $135.48 million. LendingTree had a return on equity of 17.01% and a net margin of 5.85%. The firm’s quarterly revenue was up 62.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 EPS. On average, equities analysts predict that LendingTree, Inc. will post $3.82 EPS for the current year.

TRADEMARK VIOLATION WARNING: “LendingTree, Inc. (NASDAQ:TREE) Position Reduced by Kornitzer Capital Management Inc. KS” was originally published by Daily Political and is the sole property of of Daily Political. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The original version of this piece can be accessed at https://www.dailypolitical.com/2017/08/09/lendingtree-inc-nasdaqtree-position-reduced-by-kornitzer-capital-management-inc-ks.html.

Several brokerages have weighed in on TREE. Zacks Investment Research downgraded LendingTree from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada lifted their target price on LendingTree from $160.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Stephens reaffirmed an “overweight” rating and set a $250.00 target price (up previously from $200.00) on shares of LendingTree in a research note on Sunday, July 30th. Bank of America Corporation reaffirmed a “buy” rating and set a $190.00 target price (up previously from $160.00) on shares of LendingTree in a research note on Friday, June 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $250.00 target price (up previously from $200.00) on shares of LendingTree in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $178.07.

In related news, Director Interactive Corp Liberty purchased 450,000 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were bought at an average price of $170.70 per share, with a total value of $76,815,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas R. Lebda sold 8,000 shares of the stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $178.49, for a total value of $1,427,920.00. Following the completion of the transaction, the chief executive officer now directly owns 501,218 shares in the company, valued at approximately $89,462,400.82. The disclosure for this sale can be found here. In the last three months, insiders sold 82,795 shares of company stock worth $13,403,398. 21.90% of the stock is currently owned by company insiders.

LendingTree Company Profile

LendingTree, Inc (LendingTree) is engaged in operating an online loan marketplace for consumers seeking loans and other credit-based offerings. 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 loans and lines of credit, reverse mortgage loans, auto loans, credit cards, personal loans, student loans, small business loans and other related offerings.

Want to see what other hedge funds are holding TREE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LendingTree, Inc. (NASDAQ:TREE).

Institutional Ownership by Quarter for LendingTree (NASDAQ:TREE)

Receive News & Ratings for LendingTree Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LendingTree Inc. and related companies with MarketBeat.com's FREE daily email newsletter.