Keybank National Association OH Takes Position in LendingTree, Inc. (TREE)
Keybank National Association OH purchased a new stake in shares of LendingTree, Inc. (NASDAQ:TREE) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,044 shares of the financial services provider’s stock, valued at approximately $500,000.
A number of other institutional investors have also added to or reduced their stakes in TREE. First Trust Advisors LP raised its holdings in LendingTree by 64.8% in the 2nd quarter. First Trust Advisors LP now owns 18,394 shares of the financial services provider’s stock valued at $3,167,000 after buying an additional 7,232 shares during the period. Municipal Employees Retirement System of Michigan raised its position in LendingTree by 5.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 1,710 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 90 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in LendingTree by 3.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 31,573 shares of the financial services provider’s stock worth $5,437,000 after acquiring an additional 918 shares in the last quarter. Great West Life Assurance Co. Can raised its position in LendingTree by 4.1% in the second quarter. Great West Life Assurance Co. Can now owns 10,572 shares of the financial services provider’s stock worth $1,819,000 after acquiring an additional 412 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in 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 purchasing an additional 752 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.
Several brokerages recently commented on TREE. Northland Securities reiterated a “buy” rating and set a $150.00 target price on shares of LendingTree in a report on Tuesday, July 25th. 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. Royal Bank Of Canada boosted their target price on LendingTree from $160.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Stephens reiterated an “overweight” rating and set a $250.00 price target (up previously from $200.00) on shares of LendingTree in a report on Sunday, July 30th. Finally, Zacks Investment Research downgraded LendingTree from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $247.08.
In related news, CEO Douglas R. Lebda sold 1,846 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $275.00, for a total value of $507,650.00. Following the sale, the chief executive officer now directly owns 453,418 shares in the company, valued at approximately $124,689,950. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Neil Salvage sold 1,500 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $267.08, for a total value of $400,620.00. Following the transaction, the president now directly owns 12,907 shares of the company’s stock, valued at $3,447,201.56. The disclosure for this sale can be found here. Insiders have sold 53,810 shares of company stock valued at $13,965,428 over the last three months. 21.90% of the stock is owned by corporate insiders.
Shares of LendingTree, Inc. (NASDAQ TREE) opened at $279.40 on Friday. LendingTree, Inc. has a 52-week low of $92.85 and a 52-week high of $281.80. The stock has a market cap of $3,251.92, a PE ratio of 82.58, a price-to-earnings-growth ratio of 2.77 and a beta of 1.51. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.86 and a quick ratio of 3.86.
LendingTree (NASDAQ:TREE) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.20. The firm had revenue of $171.50 million for the quarter, compared to analysts’ expectations of $157.97 million. LendingTree had a net margin of 5.49% and a return on equity of 16.52%. The business’s quarterly revenue was up 81.3% on a year-over-year basis. During the same quarter last year, the company posted $0.80 EPS. equities analysts predict that LendingTree, Inc. will post 3.06 earnings per share for the current fiscal year.
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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