Evolve Private Wealth LLC Purchases Shares of 14,434 LendingTree, Inc. $TREE

Evolve Private Wealth LLC acquired a new stake in LendingTree, Inc. (NASDAQ:TREE) in the first quarter, HoldingsChannel reports. The fund acquired 14,434 shares of the financial services provider’s stock, valued at approximately $619,000.

Other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of LendingTree by 1.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,899 shares of the financial services provider’s stock valued at $886,000 after purchasing an additional 301 shares during the period. Financial Management Professionals Inc. bought a new position in LendingTree during the fourth quarter worth about $25,000. Swiss National Bank grew its holdings in LendingTree by 2.2% during the fourth quarter. Swiss National Bank now owns 22,800 shares of the financial services provider’s stock worth $1,210,000 after purchasing an additional 500 shares during the period. RPg Family Wealth Advisory LLC increased its position in LendingTree by 0.6% during the third quarter. RPg Family Wealth Advisory LLC now owns 91,119 shares of the financial services provider’s stock worth $5,898,000 after buying an additional 501 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in LendingTree during the fourth quarter worth approximately $32,000. 68.26% of the stock is currently owned by institutional investors and hedge funds.

LendingTree Trading Up 4.0%

Shares of NASDAQ:TREE opened at $38.21 on Thursday. LendingTree, Inc. has a 12-month low of $32.65 and a 12-month high of $77.35. The business has a 50 day moving average of $40.07 and a 200-day moving average of $45.60. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 1.27. The stock has a market cap of $533.03 million, a PE ratio of 2.97 and a beta of 2.04.

LendingTree (NASDAQ:TREE) last announced its earnings results on Thursday, April 30th. The financial services provider reported $1.38 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.11). The firm had revenue of $319.07 million for the quarter, compared to the consensus estimate of $321.32 million. LendingTree had a return on equity of 17.01% and a net margin of 15.02%.LendingTree’s revenue for the quarter was up 36.5% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. As a group, equities research analysts forecast that LendingTree, Inc. will post 3.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

TREE has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of LendingTree in a research report on Friday, May 1st. Keefe, Bruyette & Woods decreased their target price on LendingTree from $83.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Truist Financial set a $78.00 price target on LendingTree in a research note on Friday, May 1st. Wall Street Zen downgraded LendingTree from a “strong-buy” rating to a “buy” rating in a report on Sunday. Finally, Zacks Research raised LendingTree from a “hold” rating to a “strong-buy” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $68.60.

LendingTree Profile

LendingTree, Inc operates an online marketplace that connects consumers with a network of lenders and financial service providers. Through its platform, borrowers can compare loan offers for mortgages, home equity loans, personal loans, student loans, auto loans and small business financing. The company also offers tools for comparing credit cards and deposit accounts, allowing users to research rates and terms from a range of providers in one place.

Founded in 1996 by Doug Lebda, LendingTree pioneered the comparison-shopping model for consumer credit products.