Osterweis Capital Management Inc. reduced its holdings in shares of LendingTree, Inc. (NASDAQ:TREE) by 33.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,302 shares of the financial services provider’s stock after selling 14,250 shares during the period. Osterweis Capital Management Inc. owned about 0.24% of LendingTree worth $4,874,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its stake in LendingTree by 2,685.7% in the second quarter. Meeder Asset Management Inc. now owns 780 shares of the financial services provider’s stock worth $135,000 after acquiring an additional 752 shares during the period. SG Americas Securities LLC purchased a new stake in LendingTree in the second quarter worth $148,000. BNP Paribas Arbitrage SA lifted its stake in LendingTree by 14.3% in the first quarter. BNP Paribas Arbitrage SA now owns 1,339 shares of the financial services provider’s stock worth $168,000 after acquiring an additional 168 shares during the period. Invictus RG purchased a new stake in LendingTree in the first quarter worth $179,000. Finally, Seven Eight Capital LP purchased a new stake in LendingTree in the second quarter worth $207,000. Hedge funds and other institutional investors own 72.07% of the company’s stock.
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TREE has been the subject of several recent research reports. Needham & Company LLC lifted their price objective on LendingTree from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, June 20th. William Blair started coverage on LendingTree in a report on Wednesday, June 21st. They issued an “outperform” rating and a $173.00 price objective for the company. Northland Securities restated a “buy” rating and set a $150.00 price target on shares of LendingTree in a research note on Tuesday, July 25th. Royal Bank Of Canada boosted their price target on LendingTree from $160.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Finally, Stephens restated an “overweight” rating and set a $250.00 price target (up from $200.00) on shares of LendingTree in a research note on Sunday, July 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. LendingTree currently has an average rating of “Buy” and a consensus price target of $203.70.
Shares of LendingTree, Inc. (NASDAQ:TREE) traded down 0.797% during trading on Tuesday, reaching $239.675. The company’s stock had a trading volume of 48,260 shares. The company has a market capitalization of $2.88 billion, a PE ratio of 111.893 and a beta of 1.56. The stock has a 50 day moving average of $240.91 and a 200-day moving average of $187.48. LendingTree, Inc. has a 1-year low of $75.05 and a 1-year high of $262.55.
LendingTree (NASDAQ:TREE) last issued its earnings results on Thursday, July 27th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.17. LendingTree had a return on equity of 17.01% and a net margin of 5.85%. The business had revenue of $152.80 million for the quarter, compared to analyst estimates of $135.48 million. During the same period last year, the company posted $0.92 EPS. The business’s quarterly revenue was up 62.0% on a year-over-year basis. On average, analysts expect that LendingTree, Inc. will post $3.82 earnings per share for the current year.
In other news, Director Peter Horan sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $226.90, for a total transaction of $453,800.00. Following the completion of the sale, the director now directly owns 31,624 shares in the company, valued at $7,175,485.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas R. Lebda sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $258.68, for a total value of $1,034,720.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,850 shares of company stock valued at $2,124,213. 21.90% of the stock is owned by insiders.
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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