LendingTree, Inc. (NASDAQ:TREE) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday.
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. “
Several other research analysts have also recently issued reports on the stock. Loop Capital decreased their price objective on shares of LendingTree from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, October 12th. RBC Capital Markets set a $145.00 target price on shares of LendingTree and gave the stock a “buy” rating in a report on Monday, October 24th. Mizuho reduced their price target on shares of LendingTree from $116.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, October 28th. Royal Bank Of Canada upped their price target on shares of LendingTree from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, November 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $140.00 price target on shares of LendingTree in a research report on Sunday, December 4th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. LendingTree has an average rating of “Buy” and an average price target of $122.13.
LendingTree (NASDAQ:TREE) traded up 2.16% during midday trading on Wednesday, hitting $115.95. 123,106 shares of the stock were exchanged. The firm’s 50-day moving average is $106.12 and its 200 day moving average is $99.30. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 28.53 and a beta of 1.49. LendingTree has a 52 week low of $55.00 and a 52 week high of $117.85.
In related news, CFO Gabriel Dalporto sold 31,250 shares of the firm’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $113.56, for a total value of $3,548,750.00. Following the transaction, the chief financial officer now directly owns 13,692 shares in the company, valued at approximately $1,554,863.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas R. Lebda sold 4,000 shares of the firm’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $111.61, for a total transaction of $446,440.00. Following the completion of the transaction, the chief executive officer now owns 684,896 shares in the company, valued at $76,441,242.56. The disclosure for this sale can be found here. Insiders sold a total of 71,675 shares of company stock worth $7,707,717 over the last quarter. 22.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of TREE. Comerica Bank raised its stake in LendingTree by 5.3% in the fourth quarter. Comerica Bank now owns 7,609 shares of the company’s stock valued at $796,000 after buying an additional 385 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in LendingTree during the fourth quarter valued at about $10,179,000. Chartwell Investment Partners LLC bought a new stake in LendingTree during the third quarter valued at about $8,597,000. Mackenzie Financial Corp raised its stake in LendingTree by 30.2% in the third quarter. Mackenzie Financial Corp now owns 26,142 shares of the company’s stock valued at $2,533,000 after buying an additional 6,071 shares in the last quarter. Finally, Jackson Square Partners LLC raised its stake in LendingTree by 9.0% in the third quarter. Jackson Square Partners LLC now owns 360,299 shares of the company’s stock valued at $34,916,000 after buying an additional 29,629 shares in the last quarter. Institutional investors own 84.07% of the company’s stock.
LendingTree Company Profile
LendingTree, Inc (LendingTree), formerly Tree.com, Inc, is engaged in operating an online loan marketplace for consumers. The Company offers a range of loan types and other credit-based offerings for its consumers. The Company operates through Lending activities segment. 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, reverse mortgage, auto loans, credit cards, personal loans, student loans and small business loans, and other related offerings.
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