LendingTree, Inc. (TREE) Upgraded at Zacks Investment Research
LendingTree, Inc. (NASDAQ:TREE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “LendingTree is the nation’s leading online loan marketplace, empowering consumers as they comparison-shop across a full suite of loan and credit-based offerings. LendingTree provides an online marketplace which connects consumers with multiple lenders that compete for their business, as well as an array of online tools and information to help consumers find the best loan. Since inception, LendingTree has facilitated more than 55 million loan requests. LendingTree provides free monthly credit scores through My LendingTree and access to its network of over 350 lenders offering home loans, personal loans, credit cards, student loans, business loans, home equity loans/lines of credit, auto loans and more. LendingTree, LLC is a subsidiary of LendingTree, Inc. “
TREE has been the topic of a number of other reports. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $190.00 price target (up from $160.00) on shares of LendingTree in a research note on Sunday, June 18th. Royal Bank Of Canada reissued a “buy” rating on shares of LendingTree in a research note on Friday, June 9th. Needham & Company LLC boosted their price target on shares of LendingTree from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, June 20th. Bank of America Corporation reissued a “buy” rating and issued a $190.00 price target (up from $160.00) on shares of LendingTree in a research note on Friday, June 9th. Finally, William Blair assumed coverage on shares of LendingTree in a research note on Wednesday, June 21st. They issued an “outperform” rating and a $173.00 price target on the stock. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $183.00.
Shares of LendingTree (NASDAQ:TREE) opened at 240.20 on Thursday. The firm’s 50-day moving average price is $228.88 and its 200 day moving average price is $170.67. The company has a market capitalization of $2.88 billion, a PE ratio of 112.14 and a beta of 1.55. LendingTree has a 52-week low of $75.05 and a 52-week high of $255.00.
LendingTree (NASDAQ:TREE) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.17. The business had revenue of $152.80 million for the quarter, compared to the consensus estimate of $135.48 million. LendingTree had a net margin of 5.85% and a return on equity of 17.01%. The business’s revenue was up 62.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 EPS. On average, equities analysts forecast that LendingTree will post $3.82 earnings per share for the current year.
In other LendingTree news, Director Steven Ozonian sold 2,850 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $223.05, for a total value of $635,692.50. Following the sale, the director now directly owns 14,029 shares of the company’s stock, valued at approximately $3,129,168.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director G Kennedy Thompson acquired 5,000 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was purchased at an average cost of $230.91 per share, for a total transaction of $1,154,550.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $1,154,550. The disclosure for this purchase can be found here. 21.90% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd purchased a new stake in shares of LendingTree in the 2nd quarter valued at approximately $1,100,000. Verition Fund Management LLC purchased a new stake in shares of LendingTree in the 2nd quarter valued at approximately $210,000. Piedmont Investment Advisors LLC purchased a new stake in shares of LendingTree in the 2nd quarter valued at approximately $271,000. The Manufacturers Life Insurance Company increased its position in shares of LendingTree by 1.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,059 shares of the financial services provider’s stock valued at $871,000 after purchasing an additional 70 shares during the last quarter. Finally, State Street Corp increased its position in shares of LendingTree by 6.8% in the 2nd quarter. State Street Corp now owns 165,642 shares of the financial services provider’s stock valued at $28,527,000 after purchasing an additional 10,547 shares during the last quarter. 71.69% of the stock is currently owned by institutional investors.
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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