Bank of Montreal Can Has $1.25 Million Stake in LendingTree, Inc. (TREE)
Bank of Montreal Can reduced its position in LendingTree, Inc. (NASDAQ:TREE) by 8.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 7,225 shares of the financial services provider’s stock after selling 684 shares during the period. Bank of Montreal Can’s holdings in LendingTree were worth $1,245,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of LendingTree by 117,777.8% in the first quarter. BlackRock Inc. now owns 823,966 shares of the financial services provider’s stock worth $103,284,000 after buying an additional 823,267 shares during the last quarter. Victory Capital Management Inc. boosted its position in LendingTree by 19.1% in the first quarter. Victory Capital Management Inc. now owns 607,253 shares of the financial services provider’s stock valued at $76,119,000 after buying an additional 97,351 shares in the last quarter. Vanguard Group Inc. boosted its position in LendingTree by 5.8% in the first quarter. Vanguard Group Inc. now owns 368,264 shares of the financial services provider’s stock valued at $46,161,000 after buying an additional 20,330 shares in the last quarter. Macquarie Group Ltd. boosted its position in LendingTree by 6.0% in the first quarter. Macquarie Group Ltd. now owns 292,004 shares of the financial services provider’s stock valued at $36,603,000 after buying an additional 16,425 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its position in LendingTree by 7.0% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 270,675 shares of the financial services provider’s stock valued at $33,929,000 after buying an additional 17,765 shares in the last quarter. Institutional investors own 75.65% of the company’s stock.
Shares of LendingTree, Inc. (TREE) traded up 1.24% during mid-day trading on Friday, reaching $224.85. The company had a trading volume of 123,447 shares. The company has a market capitalization of $2.70 billion, a PE ratio of 104.97 and a beta of 1.58. LendingTree, Inc. has a 1-year low of $75.05 and a 1-year high of $235.30. The stock’s 50-day moving average price is $199.80 and its 200 day moving average price is $152.72.
LendingTree (NASDAQ:TREE) last issued its earnings results on Thursday, July 27th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.17. The company had revenue of $152.80 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the business earned $0.92 EPS. Equities analysts expect that LendingTree, Inc. will post $3.82 EPS for the current year.
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Several equities analysts have issued reports on TREE shares. BWS Financial upped their target price on shares of LendingTree from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Zacks Investment Research upgraded shares of LendingTree from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. Royal Bank Of Canada upped their target price on shares of LendingTree from $160.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Northland Securities restated a “buy” rating and set a $150.00 target price on shares of LendingTree in a research note on Tuesday, July 25th. Finally, Stephens restated 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. One equities research analyst has rated the stock with a sell rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $178.07.
In other LendingTree news, CEO Douglas R. Lebda sold 18,929 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $155.66, for a total value of $2,946,488.14. Following the completion of the sale, the chief executive officer now directly owns 550,728 shares in the company, valued at approximately $85,726,320.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Douglas R. Lebda sold 8,000 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $156.52, for a total value of $1,252,160.00. Following the completion of the transaction, the chief executive officer now directly owns 529,746 shares in the company, valued at approximately $82,915,843.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,929 shares of company stock valued at $9,732,568. 21.90% of the stock is owned by company insiders.
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.
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