Principal Financial Group Inc. Raises Position in LendingTree, Inc. (TREE)
Principal Financial Group Inc. raised its stake in LendingTree, Inc. (NASDAQ:TREE) by 4.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 54,895 shares of the financial services provider’s stock after buying an additional 2,153 shares during the period. Principal Financial Group Inc. owned approximately 0.46% of LendingTree worth $6,881,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in TREE. State of Alaska Department of Revenue boosted its stake in shares of LendingTree by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 800 shares of the financial services provider’s stock valued at $100,000 after buying an additional 20 shares during the last quarter. Prudential Financial Inc. raised its position in shares of LendingTree by 0.6% in the first quarter. Prudential Financial Inc. now owns 12,575 shares of the financial services provider’s stock valued at $1,576,000 after buying an additional 70 shares during the period. Arizona State Retirement System raised its position in shares of LendingTree by 2.7% in the first quarter. Arizona State Retirement System now owns 3,769 shares of the financial services provider’s stock valued at $472,000 after buying an additional 100 shares during the period. Mason Street Advisors LLC raised its position in shares of LendingTree by 7.4% in the first quarter. Mason Street Advisors LLC now owns 1,689 shares of the financial services provider’s stock valued at $212,000 after buying an additional 117 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in shares of LendingTree by 4.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,890 shares of the financial services provider’s stock valued at $394,000 after buying an additional 150 shares during the period. Institutional investors own 76.61% of the company’s stock.
LendingTree, Inc. (NASDAQ:TREE) traded up 0.567% on Friday, hitting $181.925. The company had a trading volume of 171,135 shares. The stock’s 50-day moving average price is $172.40 and its 200 day moving average price is $136.31. LendingTree, Inc. has a one year low of $75.05 and a one year high of $184.05. The company has a market capitalization of $2.17 billion, a P/E ratio of 82.245 and a beta of 1.54.
LendingTree (NASDAQ:TREE) last posted its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.27. The business had revenue of $132.50 million for the quarter, compared to the consensus estimate of $124.99 million. LendingTree had a return on equity of 18.12% and a net margin of 6.79%. The firm’s revenue for the quarter was up 39.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.76 EPS. On average, analysts expect that LendingTree, Inc. will post $3.82 EPS for the current fiscal year.
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Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered LendingTree from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 28th. William Blair assumed coverage on LendingTree in a research note on Wednesday, June 21st. They set an “outperform” rating and a $173.00 price target on the stock. Needham & Company LLC upped their price target on LendingTree from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, June 20th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $190.00 price target (up previously from $160.00) on shares of LendingTree in a research note on Sunday, June 18th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $190.00 target price (up previously from $160.00) on shares of LendingTree in a research note on Friday, June 9th. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. LendingTree has an average rating of “Buy” and a consensus target price of $157.91.
In other news, CEO Douglas R. Lebda sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $179.26, for a total value of $1,434,080.00. Following the completion of the transaction, the chief executive officer now directly owns 509,506 shares of the company’s stock, valued at $91,334,045.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Steven Ozonian sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $145.26, for a total value of $363,150.00. Following the completion of the transaction, the director now directly owns 15,446 shares of the company’s stock, valued at $2,243,685.96. The disclosure for this sale can be found here. Insiders have sold a total of 165,250 shares of company stock valued at $25,124,841 over the last three months. Corporate insiders own 21.90% of the company’s stock.
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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