Punch & Associates Investment Management Inc. Buys New Stake in LendingTree, Inc. $TREE

Punch & Associates Investment Management Inc. purchased a new position in shares of LendingTree, Inc. (NASDAQ:TREE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 725,675 shares of the financial services provider’s stock, valued at approximately $32,140,000. LendingTree makes up 1.6% of Punch & Associates Investment Management Inc.’s portfolio, making the stock its 17th biggest holding. Punch & Associates Investment Management Inc. owned about 0.05% of LendingTree at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bank of America Corp DE purchased a new position in shares of LendingTree during the second quarter worth about $1,825,000. Man Group plc purchased a new stake in shares of LendingTree in the 2nd quarter valued at about $414,000. Jupiter Topco LLC purchased a new stake in shares of LendingTree in the 2nd quarter valued at about $204,000. Hsbc Holdings PLC acquired a new stake in shares of LendingTree in the 2nd quarter valued at about $310,000. Finally, Legal & General Group Plc acquired a new stake in shares of LendingTree in the 2nd quarter valued at about $521,000. 68.26% of the stock is owned by hedge funds and other institutional investors.

LendingTree Price Performance

Shares of TREE opened at $29.80 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.85 and a current ratio of 1.85. LendingTree, Inc. has a fifty-two week low of $29.70 and a fifty-two week high of $77.35. The firm has a 50-day simple moving average of $38.19 and a 200-day simple moving average of $39.85. The company has a market capitalization of $418.39 million, a price-to-earnings ratio of 2.31 and a beta of 2.04.

LendingTree (NASDAQ:TREE) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by ($0.73). The company had revenue of $313.42 million during the quarter, compared to analyst estimates of $315.56 million. LendingTree had a net margin of 14.33% and a return on equity of 14.57%. The business’s revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.13 EPS. On average, equities research analysts anticipate that LendingTree, Inc. will post 3.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TREE shares. Truist Financial dropped their price target on LendingTree from $78.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Needham & Company LLC reduced their price objective on LendingTree from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Northland Securities set a $60.00 price objective on LendingTree in a report on Thursday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of LendingTree in a research report on Wednesday, June 24th. Finally, Zacks Research cut shares of LendingTree from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.33.

About LendingTree

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.