Lendingtree (NASDAQ:TREE)‘s stock had its “buy” rating reaffirmed by Northland Securities in a report issued on Friday, February 23rd. They presently have a $360.00 price objective on the financial services provider’s stock. Northland Securities’ price target would indicate a potential downside of 6.25% from the stock’s current price.
Several other research firms have also issued reports on TREE. Bank of America reissued a “buy” rating and issued a $425.00 price target on shares of Lendingtree in a research report on Tuesday, January 23rd. SunTrust Banks assumed coverage on shares of Lendingtree in a research note on Tuesday, January 23rd. They set a “hold” rating on the stock. BWS Financial set a $194.00 price objective on shares of Lendingtree and gave the stock a “sell” rating in a research note on Monday, February 5th. Stephens reaffirmed an “overweight” rating and set a $375.00 price objective (up from $300.00) on shares of Lendingtree in a research note on Monday, December 18th. Finally, Zacks Investment Research cut shares of Lendingtree from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 27th. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Lendingtree has a consensus rating of “Buy” and a consensus price target of $311.33.
Shares of Lendingtree (NASDAQ TREE) traded down $2.35 on Friday, hitting $384.00. 99,792 shares of the stock were exchanged, compared to its average volume of 230,413. The firm has a market capitalization of $4,683.85, a price-to-earnings ratio of 358.88, a P/E/G ratio of 2.29 and a beta of 1.66. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.97 and a quick ratio of 2.97. Lendingtree has a 1-year low of $115.50 and a 1-year high of $404.40.
Lendingtree declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 22nd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
In other Lendingtree news, Director Steven Ozonian sold 300 shares of the stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $351.17, for a total value of $105,351.00. Following the sale, the director now directly owns 8,303 shares in the company, valued at $2,915,764.51. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Douglas R. Lebda sold 8,000 shares of the stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $338.81, for a total transaction of $2,710,480.00. Following the completion of the sale, the chief executive officer now owns 379,327 shares in the company, valued at $128,519,780.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,654 shares of company stock worth $31,962,877. Insiders own 21.90% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. raised its holdings in Lendingtree by 7.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 2,969 shares of the financial services provider’s stock worth $1,011,000 after purchasing an additional 202 shares during the period. Xact Kapitalforvaltning AB acquired a new stake in shares of Lendingtree during the fourth quarter worth $234,000. Pier Capital LLC acquired a new stake in shares of Lendingtree during the fourth quarter worth $5,974,000. MetLife Investment Advisors LLC acquired a new stake in shares of Lendingtree during the fourth quarter worth $1,018,000. Finally, Jane Street Group LLC raised its holdings in shares of Lendingtree by 128.6% during the fourth quarter. Jane Street Group LLC now owns 1,166 shares of the financial services provider’s stock worth $397,000 after acquiring an additional 5,239 shares during the period. Institutional investors own 77.02% of the company’s stock.
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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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