LendingTree, Inc. $TREE Shares Bought by Moody National Bank Trust Division

Moody National Bank Trust Division grew its stake in shares of LendingTree, Inc. (NASDAQ:TREE) by 311.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,823 shares of the financial services provider’s stock after buying an additional 21,823 shares during the period. Moody National Bank Trust Division’s holdings in LendingTree were worth $1,277,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its position in LendingTree by 33.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 274,366 shares of the financial services provider’s stock valued at $11,765,000 after acquiring an additional 68,466 shares during the period. Jennison Associates LLC acquired a new stake in LendingTree during the fourth quarter worth about $31,120,000. Punch & Associates Investment Management Inc. raised its holdings in shares of LendingTree by 37.8% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 647,038 shares of the financial services provider’s stock worth $27,745,000 after purchasing an additional 177,391 shares during the period. Jacobs Asset Management LLC purchased a new position in shares of LendingTree in the 1st quarter worth about $643,000. Finally, Evolve Private Wealth LLC acquired a new position in shares of LendingTree in the 1st quarter valued at about $619,000. 68.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TREE shares. Wall Street Zen downgraded shares of LendingTree from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 20th. Keefe, Bruyette & Woods reduced their price target on shares of LendingTree from $70.00 to $58.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Truist Financial reduced their price target on shares of LendingTree from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. JPMorgan Chase & Co. began coverage on shares of LendingTree in a research report on Tuesday, April 14th. They issued an “overweight” rating and a $50.00 price objective for the company. Finally, Needham & Company LLC cut their target price on shares of LendingTree from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.33.

LendingTree Stock Performance

LendingTree stock opened at $33.81 on Thursday. The firm has a market capitalization of $474.69 million, a PE ratio of 2.62 and a beta of 2.04. LendingTree, Inc. has a one year low of $29.77 and a one year high of $77.35. The stock’s 50 day moving average price is $39.88 and its 200 day moving average price is $42.74. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.89 and a current ratio of 1.85.

LendingTree Profile

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.