American International Group Inc. reduced its holdings in Lendingtree Inc (NASDAQ:TREE) by 2.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,263 shares of the financial services provider’s stock after selling 488 shares during the period. American International Group Inc. owned about 0.16% of Lendingtree worth $4,663,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Nikko Asset Management Americas Inc. boosted its stake in shares of Lendingtree by 47.4% in the third quarter. Nikko Asset Management Americas Inc. now owns 561,873 shares of the financial services provider’s stock worth $129,231,000 after acquiring an additional 180,718 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Lendingtree by 48.0% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 559,424 shares of the financial services provider’s stock worth $128,723,000 after acquiring an additional 181,491 shares during the last quarter. Jackson Square Partners LLC boosted its stake in shares of Lendingtree by 18.5% in the third quarter. Jackson Square Partners LLC now owns 492,932 shares of the financial services provider’s stock worth $113,423,000 after acquiring an additional 76,892 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Lendingtree by 84.2% in the second quarter. Macquarie Group Ltd. now owns 353,187 shares of the financial services provider’s stock worth $75,511,000 after acquiring an additional 161,407 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Lendingtree by 14.8% in the third quarter. Janus Henderson Group PLC now owns 324,856 shares of the financial services provider’s stock worth $74,749,000 after acquiring an additional 41,948 shares during the last quarter. 86.43% of the stock is currently owned by institutional investors.
In other news, Director Steven Ozonian sold 975 shares of Lendingtree stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $247.83, for a total value of $241,634.25. Following the completion of the sale, the director now directly owns 7,344 shares of the company’s stock, valued at $1,820,063.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 20.50% of the company’s stock.
Shares of NASDAQ TREE opened at $242.74 on Friday. Lendingtree Inc has a twelve month low of $183.25 and a twelve month high of $404.40. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $3.21 billion, a PE ratio of 80.38, a PEG ratio of 1.91 and a beta of 2.18.
Lendingtree (NASDAQ:TREE) last issued its quarterly earnings data on Thursday, November 1st. The financial services provider reported $1.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.61. Lendingtree had a return on equity of 12.86% and a net margin of 12.73%. The business had revenue of $197.10 million during the quarter, compared to analysts’ expectations of $199.28 million. During the same period in the previous year, the firm posted $1.17 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. As a group, research analysts anticipate that Lendingtree Inc will post 3.69 EPS for the current year.
A number of analysts have recently issued reports on the company. ValuEngine raised Lendingtree from a “sell” rating to a “hold” rating in a research note on Saturday, September 1st. Zacks Investment Research lowered Lendingtree from a “buy” rating to a “hold” rating in a research note on Wednesday, September 26th. BidaskClub raised Lendingtree from a “sell” rating to a “hold” rating in a research note on Wednesday, September 5th. Northland Securities downgraded Lendingtree from an “outperform” rating to a “market perform” rating in a research report on Monday, November 12th. Finally, Oppenheimer set a $300.00 target price on Lendingtree and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $323.88.
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LendingTree, Inc, through its subsidiary, LendingTree, LLC, operates an online loan marketplace for consumers seeking loans and other credit-based offerings in the United States. Its mortgage products comprise purchase and refinance products. The company also provides information, tools, and access to various conditional loan offers for non-mortgage products, including auto loans, credit cards, home equity loans, personal loans, reverse mortgages, small business loans, and student loans.
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