Oppenheimer Increases LendingTree (TREE) Price Target to $340.00
LendingTree (NASDAQ:TREE) had its price objective lifted by equities research analysts at Oppenheimer to $340.00 in a research note issued on Friday. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s target price would indicate a potential upside of 12.60% from the stock’s previous close.
A number of other equities analysts have also commented on the stock. Northland Securities reaffirmed a “buy” rating and set a $280.00 target price on shares of LendingTree in a research report on Thursday, October 26th. Zacks Investment Research raised shares of LendingTree from a “sell” rating to a “strong-buy” rating and set a $308.00 target price on the stock in a research report on Thursday, November 2nd. Citigroup reaffirmed an “outperform” rating and set a $290.00 target price on shares of LendingTree in a research report on Friday, October 27th. Stephens raised their target price on shares of LendingTree from $250.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. Finally, BWS Financial downgraded shares of LendingTree from a “buy” rating to a “sell” rating and set a $194.00 price objective for the company. in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $251.25.
LendingTree (TREE) traded up $4.15 during mid-day trading on Friday, hitting $301.95. The company’s stock had a trading volume of 191,400 shares, compared to its average volume of 191,830. The stock has a market cap of $3,661.85, a P/E ratio of 92.99, a price-to-earnings-growth ratio of 3.12 and a beta of 1.51. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.86 and a quick ratio of 3.86. LendingTree has a 1 year low of $96.20 and a 1 year high of $307.00.
In other news, CEO Douglas R. Lebda sold 4,000 shares of LendingTree stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $258.68, for a total transaction of $1,034,720.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Carla Shumate sold 2,414 shares of LendingTree stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $275.00, for a total transaction of $663,850.00. Following the sale, the chief accounting officer now owns 4,841 shares of the company’s stock, valued at $1,331,275. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,374 shares of company stock worth $22,447,606. Company insiders own 21.90% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Teachers Advisors LLC increased its stake in LendingTree by 7.7% during the first quarter. Teachers Advisors LLC now owns 11,399 shares of the financial services provider’s stock valued at $1,429,000 after purchasing an additional 811 shares during the last quarter. Vanguard Group Inc. raised its holdings in LendingTree by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 368,264 shares of the financial services provider’s stock worth $46,161,000 after buying an additional 20,330 shares during the period. Geode Capital Management LLC raised its holdings in LendingTree by 6.6% during the 1st quarter. Geode Capital Management LLC now owns 58,884 shares of the financial services provider’s stock worth $7,381,000 after buying an additional 3,623 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in LendingTree by 5.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 30,655 shares of the financial services provider’s stock worth $3,843,000 after buying an additional 1,704 shares during the period. Finally, State Street Corp increased its holdings in shares of LendingTree by 10.3% in the 1st quarter. State Street Corp now owns 155,095 shares of the financial services provider’s stock valued at $19,443,000 after purchasing an additional 14,443 shares during the period. Institutional investors and hedge funds own 72.09% of the company’s stock.
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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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