LendingTree, Inc. (NASDAQ:TREE) Holdings Cut by Hennessy Advisors Inc.

Hennessy Advisors Inc. lowered its holdings in shares of LendingTree, Inc. (NASDAQ:TREE) by 10.2% during the first quarter, Holdings Channel reports. The firm owned 217,600 shares of the financial services provider’s stock after selling 24,800 shares during the period. Hennessy Advisors Inc.’s holdings in LendingTree were worth $10,939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its position in LendingTree by 68.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,921 shares of the financial services provider’s stock valued at $298,000 after buying an additional 2,397 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in LendingTree by 17.0% during the first quarter. Assenagon Asset Management S.A. now owns 148,271 shares of the financial services provider’s stock worth $7,454,000 after purchasing an additional 21,539 shares during the last quarter. SG Americas Securities LLC boosted its holdings in LendingTree by 51.6% during the first quarter. SG Americas Securities LLC now owns 9,678 shares of the financial services provider’s stock worth $487,000 after purchasing an additional 3,292 shares during the last quarter. Intellectus Partners LLC boosted its holdings in LendingTree by 18.5% during the first quarter. Intellectus Partners LLC now owns 30,750 shares of the financial services provider’s stock worth $1,546,000 after purchasing an additional 4,800 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in LendingTree by 4.9% during the first quarter. Rhumbline Advisers now owns 14,879 shares of the financial services provider’s stock worth $748,000 after purchasing an additional 698 shares during the last quarter. Institutional investors own 68.26% of the company’s stock.

Insider Activity at LendingTree

In related news, General Counsel Heather Enlow-Novitsky sold 1,250 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $36.24, for a total value of $45,300.00. Following the transaction, the general counsel now directly owns 2,028 shares of the company’s stock, valued at approximately $73,494.72. The trade was a 38.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on TREE. Needham & Company LLC dropped their price target on shares of LendingTree from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Stephens reissued an “overweight” rating and issued a $69.00 price objective on shares of LendingTree in a research report on Thursday, March 6th. Truist Financial dropped their price objective on shares of LendingTree from $72.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. JPMorgan Chase & Co. increased their price objective on shares of LendingTree from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Finally, Wall Street Zen lowered shares of LendingTree from a “buy” rating to a “hold” rating in a research report on Sunday, May 11th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.13.

LendingTree Stock Down 3.1%

NASDAQ:TREE opened at $34.16 on Friday. The firm’s 50 day simple moving average is $40.70 and its 200 day simple moving average is $42.53. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.92 and a quick ratio of 0.92. LendingTree, Inc. has a one year low of $33.82 and a one year high of $62.49. The company has a market cap of $462.36 million, a PE ratio of -12.65 and a beta of 1.61.

LendingTree (NASDAQ:TREE) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.25. The company had revenue of $239.70 million during the quarter, compared to analyst estimates of $244.93 million. LendingTree had a negative net margin of 4.72% and a positive return on equity of 0.51%. The company’s quarterly revenue was up 42.8% compared to the same quarter last year. On average, research analysts anticipate that LendingTree, Inc. will post 0.48 earnings per share for the current year.

LendingTree Company Profile

LendingTree, Inc, through its subsidiary, operates online consumer platform in the United States. It operates through three segments: Home, Consumer, and Insurance. The Home segment offers purchase mortgage, refinance mortgage, and home equity loans and lines of credit; and real estate brokerage services.