State of New Jersey Common Pension Fund D Cuts Stock Holdings in Lendingtree Inc (NASDAQ:TREE)

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State of New Jersey Common Pension Fund D reduced its position in shares of Lendingtree Inc (NASDAQ:TREE) by 78.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,500 shares of the financial services provider’s stock after selling 23,500 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.05% of Lendingtree worth $2,018,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TREE. First Trust Advisors LP raised its holdings in Lendingtree by 110.8% during the first quarter. First Trust Advisors LP now owns 14,351 shares of the financial services provider’s stock worth $5,045,000 after purchasing an additional 7,543 shares in the last quarter. Dorsey Wright & Associates purchased a new position in Lendingtree during the second quarter worth about $2,022,000. Retirement Systems of Alabama raised its holdings in Lendingtree by 0.3% during the second quarter. Retirement Systems of Alabama now owns 9,716 shares of the financial services provider’s stock worth $4,081,000 after purchasing an additional 28 shares in the last quarter. Scout Investments Inc. raised its holdings in Lendingtree by 2.6% during the second quarter. Scout Investments Inc. now owns 66,169 shares of the financial services provider’s stock worth $27,793,000 after purchasing an additional 1,695 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in Lendingtree by 1.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 2,983 shares of the financial services provider’s stock worth $1,253,000 after purchasing an additional 43 shares in the last quarter. 78.67% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Peter Horan sold 300 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $386.48, for a total value of $115,944.00. Following the transaction, the director now owns 19,423 shares of the company’s stock, valued at approximately $7,506,601.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 17.90% of the company’s stock.

Shares of Lendingtree stock opened at $363.90 on Friday. The stock has a market cap of $4.80 billion, a PE ratio of 40.98, a price-to-earnings-growth ratio of 6.08 and a beta of 2.19. The company has a 50-day moving average of $324.65 and a two-hundred day moving average of $354.92. Lendingtree Inc has a 12-month low of $199.15 and a 12-month high of $434.94. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.67.

Lendingtree (NASDAQ:TREE) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $2.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $1.62. Lendingtree had a net margin of 1.20% and a return on equity of 14.58%. The company had revenue of $310.60 million for the quarter, compared to analyst estimates of $295.26 million. During the same quarter last year, the business earned $1.92 EPS. Lendingtree’s revenue for the quarter was up 57.6% on a year-over-year basis. On average, sell-side analysts forecast that Lendingtree Inc will post 2.22 EPS for the current fiscal year.

Several research analysts recently issued reports on the stock. TheStreet cut shares of Lendingtree from a “b” rating to a “c+” rating in a report on Monday, July 29th. SunTrust Banks dropped their target price on shares of Lendingtree to $335.00 and set a “hold” rating for the company in a report on Tuesday, October 29th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Lendingtree from a “strong sell” rating to a “hold” rating and set a $264.00 target price for the company in a report on Friday, September 27th. Bank of America reaffirmed a “buy” rating and issued a $390.00 target price (down from $420.00) on shares of Lendingtree in a report on Friday, July 26th. Finally, Oppenheimer dropped their target price on shares of Lendingtree from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $359.33.

Lendingtree Company Profile

LendingTree, Inc, through its subsidiary, LendingTree, LLC, operates an online loan marketplace for consumers seeking loans in the United States. Its mortgage products comprise purchase and refinance products. The company also provides information, tools, and access to various conditional loan offers for non-mortgage products, including auto loans, credit cards, home equity loans, personal loans, reverse mortgages, small business loans, and student loans.

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Institutional Ownership by Quarter for Lendingtree (NASDAQ:TREE)

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