Lendingtree (NASDAQ:TREE)‘s stock had its “buy” rating reissued by Northland Securities in a report issued on Friday, February 23rd. They currently have a $360.00 target price on the financial services provider’s stock. Northland Securities’ target price points to a potential upside of 3.21% from the stock’s current price.
TREE has been the topic of a number of other research reports. Bank of America restated a “buy” rating and set a $425.00 target price on shares of Lendingtree in a research report on Tuesday, January 23rd. Needham & Company LLC reiterated a “buy” rating and set a $300.00 price target (up previously from $250.00) on shares of Lendingtree in a research report on Thursday, October 26th. SunTrust Banks started coverage on shares of Lendingtree in a research report on Tuesday, January 23rd. They set a “hold” rating on the stock. Oppenheimer increased their price target on shares of Lendingtree from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, December 14th. Finally, Guggenheim set a $360.00 price objective on shares of Lendingtree and gave the company a “buy” rating in a research note on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $308.33.
Shares of Lendingtree (NASDAQ:TREE) opened at $348.80 on Friday. Lendingtree has a fifty-two week low of $115.50 and a fifty-two week high of $404.40. The company has a market cap of $4,310.00, a price-to-earnings ratio of 165.31, a price-to-earnings-growth ratio of 2.10 and a beta of 1.66. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 0.81.
Lendingtree declared that its board has authorized a stock repurchase program on Thursday, February 22nd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In other Lendingtree news, CEO Douglas R. Lebda sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $338.81, for a total value of $2,710,480.00. Following the completion of the transaction, the chief executive officer now owns 379,327 shares of the company’s stock, valued at approximately $128,519,780.87. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven Ozonian sold 300 shares of the company’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $351.17, for a total transaction of $105,351.00. Following the completion of the sale, the director now directly owns 8,303 shares of the company’s stock, valued at approximately $2,915,764.51. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,654 shares of company stock worth $34,611,677. 21.90% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Northern Trust Corp raised its holdings in Lendingtree by 0.3% during the 2nd quarter. Northern Trust Corp now owns 90,140 shares of the financial services provider’s stock valued at $15,521,000 after buying an additional 238 shares during the last quarter. Vanguard Group Inc. raised its holdings in Lendingtree by 45.6% during the 2nd quarter. Vanguard Group Inc. now owns 536,197 shares of the financial services provider’s stock valued at $92,333,000 after buying an additional 167,933 shares during the last quarter. Ark Investment Management LLC raised its holdings in Lendingtree by 18.6% during the 2nd quarter. Ark Investment Management LLC now owns 34,747 shares of the financial services provider’s stock valued at $5,983,000 after buying an additional 5,450 shares during the last quarter. Voya Investment Management LLC raised its holdings in Lendingtree by 20.1% during the 2nd quarter. Voya Investment Management LLC now owns 3,011 shares of the financial services provider’s stock valued at $518,000 after buying an additional 504 shares during the last quarter. Finally, State Street Corp raised its holdings in Lendingtree by 6.8% during the 2nd quarter. State Street Corp now owns 165,642 shares of the financial services provider’s stock valued at $28,527,000 after buying an additional 10,547 shares during the last quarter. 77.36% of the stock is owned by institutional investors.
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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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