The Manufacturers Life Insurance Company reduced its stake in the shares of LendingTree, Inc. (NASDAQ: TREE – Get a rating) by 2.9% in the third quarter, according to the company in its latest filing with the Securities and Exchange Commission (SEC). The fund held 268,725 shares of the financial services provider after selling 7,983 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 2.10% of LendingTree worth $6,412,000 at the end of the last quarter.
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A number of other institutional investors and hedge funds have also recently changed their stock holdings. Captrust Financial Advisors increased its holdings of LendingTree shares by 59.1% in Q2. Captrust Financial Advisors now owns 719 shares of the financial services provider worth $32,000 after buying an additional 267 shares during the period. Acadian Asset Management LLC bought a new position in LendingTree in Q1 worth approximately $99,000. Sageworth Trust Co bought a new position in LendingTree in Q2 worth around $41,000. Asset Management One Co. Ltd. increased its holdings in LendingTree by 80.0% in the 2nd quarter. Asset Management One Co. Ltd. now owns 1,037 shares of the financial services provider worth $45,000 after acquiring an additional 461 shares during the period. Finally, KBC Group NV bought a new position in LendingTree in the 2nd quarter for a value of approximately $46,000. Institutional investors and hedge funds hold 83.16% of the company’s shares.
Insider Activity at LendingTree
In related news, insider Jill Olmstead sold 3,500 shares of the company in a trade that took place on Thursday, November 10. The stock was sold at an average price of $26.07, for a total transaction of $91,245.00. Following the sale, the insider now directly owns 1,551 shares of the company, valued at approximately $40,434.57. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. In other LendingTree news, insider Jill Olmstead sold 3,500 shares in a trade on Thursday, November 10. The stock was sold at an average price of $26.07, for a total value of $91,245.00. Following the sale, the insider now directly owns 1,551 shares of the company, valued at $40,434.57. The sale was disclosed in a filing with the Securities & Exchange Commission, available via this link. Additionally, CEO Douglas R. Lebda purchased 65,062 shares of the company in a transaction on Monday, January 23. The stock was purchased at an average price of $32.03 per share, for a total transaction of $2,083,935.86. Following completion of the transaction, the CEO now directly owns 65,062 shares of the company, valued at $2,083,935.86. Disclosure of this purchase can be found here. Company insiders hold 17.90% of the company’s stock.
LendingTree stock up 6.0%
TREE wood opened at $38.32 on Monday. The company has a debt ratio of 3.94, a current ratio of 4.48 and a quick ratio of 4.48. LendingTree, Inc. has a 12-month low of $17.59 and a 12-month high of $130.66. The stock’s 50-day simple moving average is $24.26 and its 200-day simple moving average is $29.63.
Loan Tree (NASDAQ: TREE – Get a rating) last released its quarterly results on Thursday, November 3. The financial services provider reported ($1.58) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.06) by $0.48. The company posted revenue of $237.80 million for the quarter, versus analyst estimates of $240.68 million. LendingTree had a negative return on equity of 14.85% and a negative net margin of 12.45%. On average, equity research analysts expect LendingTree, Inc. to post -4.34 earnings per share for the current year.
Analysts set new price targets
A number of research companies have weighed in on TREE. Oppenheimer cut his price target on LendingTree from $55.00 to $35.00 and set an “outperform” rating for the company in a Tuesday, November 8 report. Needham & Company LLC cut its price target on LendingTree from $54.00 to $32.00 and set a “buy” rating for the company in a Friday, November 4 report. StockNews.com began coverage on LendingTree in a report on Wednesday, October 12. They issued a “hold” rating for the company. Finally, TheStreet upgraded LendingTree from a “c-” rating to a “d+” rating in a Monday, October 3 research note. Three equity research analysts gave the stock a hold rating and four gave the stock a buy rating. According to MarketBeat, LendingTree currently has an average rating of “Moderate Buy” and an average target price of $106.57.
LendingTree Company Profile
LendingTree, Inc engages in the operation of an online lending marketplace for consumers seeking loans and other credit-based offerings. It operates through the following segments: Home, Consumer and Insurance. The Home segment includes mortgage purchase, mortgage refinance, home equity loans and lines of credit and reverse mortgages and real estate.
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