LendingTree, Inc. (TREE) Downgraded to Sell at BWS Financial
LendingTree, Inc. (NASDAQ:TREE) was downgraded by equities research analysts at BWS Financial from a “buy” rating to a “sell” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $194.00 target price on the financial services provider’s stock. BWS Financial’s price objective would indicate a potential downside of 22.46% from the stock’s current price.
A number of other analysts have also recently issued reports on the company. Needham & Company LLC boosted their price objective on LendingTree from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, June 20th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $190.00 price objective (up from $160.00) on shares of LendingTree in a research report on Sunday, June 18th. Zacks Investment Research cut LendingTree from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Stephens restated an “overweight” rating and set a $250.00 price objective (up from $200.00) on shares of LendingTree in a research report on Sunday, July 30th. Finally, Northland Securities restated a “buy” rating and set a $150.00 price objective on shares of LendingTree in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company’s stock. LendingTree has an average rating of “Buy” and a consensus target price of $198.36.
LendingTree (TREE) traded down 2.91% during mid-day trading on Thursday, hitting $250.20. 296,682 shares of the stock were exchanged. LendingTree has a one year low of $75.05 and a one year high of $262.55. The company has a 50-day moving average price of $240.03 and a 200-day moving average price of $185.72. The company has a market cap of $3.00 billion, a P/E ratio of 116.81 and a beta of 1.56.
LendingTree (NASDAQ:TREE) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.17. The company had revenue of $152.80 million for the quarter, compared to the consensus estimate of $135.48 million. LendingTree had a return on equity of 17.01% and a net margin of 5.85%. The company’s revenue for the quarter was up 62.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 EPS. On average, analysts predict that LendingTree will post $3.82 earnings per share for the current fiscal year.
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In related news, Director G Kennedy Thompson purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were acquired at an average price of $230.91 per share, with a total value of $1,154,550.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at $1,154,550. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven Ozonian sold 2,850 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $223.05, for a total value of $635,692.50. Following the completion of the sale, the director now directly owns 14,029 shares in the company, valued at approximately $3,129,168.45. The disclosure for this sale can be found here. 21.90% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in LendingTree by 117,777.8% in the 1st quarter. BlackRock Inc. now owns 823,966 shares of the financial services provider’s stock valued at $103,284,000 after buying an additional 823,267 shares in the last quarter. Vanguard Group Inc. boosted its stake in LendingTree by 45.6% in the 2nd quarter. Vanguard Group Inc. now owns 536,197 shares of the financial services provider’s stock valued at $92,333,000 after buying an additional 167,933 shares in the last quarter. Baillie Gifford & Co. boosted its stake in LendingTree by 39.7% in the 2nd quarter. Baillie Gifford & Co. now owns 336,171 shares of the financial services provider’s stock valued at $57,889,000 after buying an additional 95,471 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in LendingTree by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 316,069 shares of the financial services provider’s stock valued at $54,428,000 after buying an additional 18,678 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its stake in LendingTree by 6.0% in the 1st quarter. Macquarie Group Ltd. now owns 292,004 shares of the financial services provider’s stock valued at $36,603,000 after buying an additional 16,425 shares in the last quarter. 71.69% of the stock is currently owned by institutional investors and hedge funds.
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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