Jennison Associates LLC Increases Holdings in LendingTree, Inc. $TREE

Jennison Associates LLC raised its stake in LendingTree, Inc. (NASDAQ:TREE) by 74.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,020,211 shares of the financial services provider’s stock after purchasing an additional 434,038 shares during the quarter. Jennison Associates LLC owned about 7.31% of LendingTree worth $43,747,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of LendingTree by 1.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,899 shares of the financial services provider’s stock valued at $886,000 after buying an additional 301 shares during the period. Financial Management Professionals Inc. purchased a new position in LendingTree in the 4th quarter worth approximately $25,000. Swiss National Bank boosted its holdings in LendingTree by 2.2% in the 4th quarter. Swiss National Bank now owns 22,800 shares of the financial services provider’s stock worth $1,210,000 after acquiring an additional 500 shares during the period. Fifth Third Bancorp acquired a new stake in LendingTree in the fourth quarter valued at approximately $32,000. Finally, Price T Rowe Associates Inc. MD grew its position in LendingTree by 5.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,398 shares of the financial services provider’s stock valued at $606,000 after acquiring an additional 612 shares in the last quarter. Hedge funds and other institutional investors own 68.26% of the company’s stock.

LendingTree Price Performance

Shares of TREE stock opened at $44.13 on Tuesday. The firm has a fifty day moving average of $39.71 and a two-hundred day moving average of $44.45. The firm has a market cap of $615.61 million, a P/E ratio of 3.43 and a beta of 2.00. LendingTree, Inc. has a 1-year low of $32.65 and a 1-year high of $77.35. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.89 and a quick ratio of 1.89.

LendingTree (NASDAQ:TREE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.11). LendingTree had a net margin of 15.02% and a return on equity of 17.01%. The company had revenue of $319.07 million during the quarter, compared to analyst estimates of $321.32 million. During the same quarter last year, the company posted $0.99 EPS. The business’s revenue for the quarter was up 36.5% compared to the same quarter last year. As a group, research analysts anticipate that LendingTree, Inc. will post 3.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TREE has been the topic of a number of recent research reports. Wall Street Zen cut shares of LendingTree from a “strong-buy” rating to a “buy” rating in a research report on Monday. Truist Financial set a $78.00 price target on shares of LendingTree in a report on Friday, May 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of LendingTree in a research note on Friday, May 1st. Zacks Research lowered shares of LendingTree from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of LendingTree in a research report on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, LendingTree has an average rating of “Moderate Buy” and a consensus target price of $66.20.

About LendingTree

LendingTree, Inc operates an online marketplace that connects consumers with a network of lenders and financial service providers. Through its platform, borrowers can compare loan offers for mortgages, home equity loans, personal loans, student loans, auto loans and small business financing. The company also offers tools for comparing credit cards and deposit accounts, allowing users to research rates and terms from a range of providers in one place.

Founded in 1996 by Doug Lebda, LendingTree pioneered the comparison-shopping model for consumer credit products.