Elk Creek Partners LLC Has $15.78 Million Position in LendingTree, Inc. (TREE)
Elk Creek Partners LLC reduced its position in shares of LendingTree, Inc. (NASDAQ:TREE) by 20.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,558 shares of the financial services provider’s stock after selling 16,220 shares during the period. Elk Creek Partners LLC owned approximately 0.54% of LendingTree worth $15,781,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its holdings in LendingTree by 5.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 33,435 shares of the financial services provider’s stock worth $8,174,000 after purchasing an additional 1,862 shares in the last quarter. WINTON GROUP Ltd purchased a new position in LendingTree during the third quarter worth about $2,403,000. Amalgamated Bank purchased a new position in LendingTree during the third quarter worth about $217,000. Legal & General Group Plc increased its holdings in LendingTree by 11.2% in the third quarter. Legal & General Group Plc now owns 14,442 shares of the financial services provider’s stock valued at $3,530,000 after buying an additional 1,450 shares in the last quarter. Finally, American International Group Inc. increased its holdings in LendingTree by 6.2% in the third quarter. American International Group Inc. now owns 5,189 shares of the financial services provider’s stock valued at $1,268,000 after buying an additional 301 shares in the last quarter. 72.09% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Douglas R. Lebda sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $258.68, for a total transaction of $1,034,720.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nikul Patel sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the sale, the insider now owns 4,953 shares in the company, valued at approximately $1,485,900. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,374 shares of company stock worth $22,447,606. 21.90% of the stock is owned by company insiders.
A number of research analysts have issued reports on TREE shares. Zacks Investment Research cut shares of LendingTree from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Bank of America increased their target price on shares of LendingTree from $250.00 to $285.00 and gave the company a “buy” rating in a report on Tuesday, October 10th. BWS Financial cut shares of LendingTree from a “buy” rating to a “sell” rating and set a $194.00 target price for the company. in a report on Thursday, October 12th. Stephens increased their target price on shares of LendingTree from $250.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 target price (up from $250.00) on shares of LendingTree in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. LendingTree presently has a consensus rating of “Buy” and a consensus price target of $251.25.
Shares of LendingTree, Inc. (TREE) traded up $4.15 on Friday, hitting $301.95. 191,400 shares of the stock were exchanged, compared to its average volume of 191,830. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.86 and a current ratio of 3.86. LendingTree, Inc. has a fifty-two week low of $96.20 and a fifty-two week high of $307.00. The stock has a market cap of $3,661.85, a PE ratio of 92.99, a price-to-earnings-growth ratio of 3.12 and a beta of 1.51.
LendingTree (NASDAQ:TREE) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.20. LendingTree had a net margin of 5.49% and a return on equity of 16.52%. The business had revenue of $171.50 million during the quarter, compared to analysts’ expectations of $157.97 million. During the same period last year, the company posted $0.80 EPS. The company’s revenue was up 81.3% on a year-over-year basis. equities analysts expect that LendingTree, Inc. will post 3.06 earnings per share for the current year.
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).
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.