Seven Eight Capital LP Purchases New Holdings in LendingTree, Inc. (TREE)
Seven Eight Capital LP purchased a new stake in LendingTree, Inc. (NASDAQ:TREE) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,200 shares of the financial services provider’s stock, valued at approximately $207,000.
Several other large investors have also recently added to or reduced their stakes in TREE. Meeder Asset Management Inc. boosted its holdings in shares of LendingTree by 2,685.7% in the 2nd 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 in the last quarter. SG Americas Securities LLC bought a new stake in shares of LendingTree in the 2nd quarter valued at about $148,000. BNP Paribas Arbitrage SA boosted its holdings in shares of LendingTree by 14.3% in the 1st 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 in the last quarter. Invictus RG bought a new stake in shares of LendingTree in the 1st quarter valued at about $179,000. Finally, LS Investment Advisors LLC boosted its holdings in shares of LendingTree by 482.9% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 71.69% of the company’s stock.
LendingTree, Inc. (NASDAQ TREE) opened at 246.05 on Wednesday. The company has a 50 day moving average of $228.88 and a 200 day moving average of $170.67. LendingTree, Inc. has a 12 month low of $75.05 and a 12 month high of $251.75. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 114.87 and a beta of 1.55.
LendingTree (NASDAQ:TREE) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.17. The firm had revenue of $152.80 million during 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 earnings per share. On average, equities analysts predict that LendingTree, Inc. will post $3.82 EPS for the current year.
In related news, CEO Douglas R. Lebda sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was 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 of the company’s stock, valued at $89,462,400.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director G Kennedy Thompson purchased 5,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was acquired at an average cost of $230.91 per share, with a total value of $1,154,550.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $1,154,550. The disclosure for this purchase can be found here. Insiders sold 12,850 shares of company stock valued at $2,517,413 over the last ninety days. 21.90% of the stock is currently owned by corporate insiders.
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TREE has been the topic of a number of recent analyst reports. Royal Bank Of Canada restated a “buy” rating on shares of LendingTree in a report on Friday, June 9th. Bank of America Corporation restated a “buy” rating and issued a $190.00 price target (up from $160.00) on shares of LendingTree in a report on Friday, June 9th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $190.00 price target (up from $160.00) on shares of LendingTree in a report on Sunday, June 18th. Needham & Company LLC raised their price target on shares of LendingTree from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, June 20th. Finally, William Blair initiated coverage on shares of LendingTree in a report on Wednesday, June 21st. They issued an “outperform” rating and a $173.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $183.00.
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.
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