Assenagon Asset Management S.A. Has $7.45 Million Stock Holdings in LendingTree, Inc. (NASDAQ:TREE)

Assenagon Asset Management S.A. grew its position in LendingTree, Inc. (NASDAQ:TREE) by 17.0% during the 1st quarter, Holdings Channel reports. The firm owned 148,271 shares of the financial services provider’s stock after purchasing an additional 21,539 shares during the quarter. Assenagon Asset Management S.A.’s holdings in LendingTree were worth $7,454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TREE. Empowered Funds LLC boosted its stake in shares of LendingTree by 4.9% in the 4th quarter. Empowered Funds LLC now owns 36,946 shares of the financial services provider’s stock valued at $1,432,000 after purchasing an additional 1,728 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in LendingTree by 101.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,027 shares of the financial services provider’s stock worth $80,000 after buying an additional 1,021 shares in the last quarter. Congress Asset Management Co. lifted its position in LendingTree by 13.4% during the 4th quarter. Congress Asset Management Co. now owns 24,808 shares of the financial services provider’s stock worth $961,000 after buying an additional 2,923 shares in the last quarter. New York State Common Retirement Fund lifted its position in LendingTree by 75.0% during the 4th quarter. New York State Common Retirement Fund now owns 4,707 shares of the financial services provider’s stock worth $182,000 after buying an additional 2,017 shares in the last quarter. Finally, Ieq Capital LLC acquired a new position in LendingTree during the 4th quarter worth about $248,000. Institutional investors and hedge funds own 68.26% of the company’s stock.

Insider Activity

In other news, General Counsel Heather Enlow-Novitsky sold 1,250 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $36.24, for a total value of $45,300.00. Following the completion of the sale, the general counsel now directly owns 2,028 shares of the company’s stock, valued at $73,494.72. This represents a 38.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 23.10% of the stock is currently owned by company insiders.

LendingTree Stock Performance

Shares of NASDAQ:TREE opened at $34.16 on Friday. The stock has a market capitalization of $462.36 million, a P/E ratio of -12.65 and a beta of 1.61. LendingTree, Inc. has a 1-year low of $33.82 and a 1-year high of $62.49. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.67. The business has a 50-day moving average price of $40.55 and a two-hundred day moving average price of $42.46.

LendingTree (NASDAQ:TREE) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.25. The company had revenue of $239.70 million during the quarter, compared to analysts’ expectations of $244.93 million. LendingTree had a positive return on equity of 0.51% and a negative net margin of 4.72%. The firm’s revenue for the quarter was up 42.8% on a year-over-year basis. Equities analysts predict that LendingTree, Inc. will post 0.48 earnings per share for the current year.

Analysts Set New Price Targets

TREE has been the topic of several research reports. Stephens reiterated an “overweight” rating and set a $69.00 price target on shares of LendingTree in a research report on Thursday, March 6th. Truist Financial reduced their price target on shares of LendingTree from $72.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Keefe, Bruyette & Woods reduced their price target on shares of LendingTree from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Wall Street Zen downgraded shares of LendingTree from a “buy” rating to a “hold” rating in a research report on Sunday, May 11th. Finally, Needham & Company LLC dropped their price objective on LendingTree from $65.00 to $62.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.13.

LendingTree Profile

LendingTree, Inc, through its subsidiary, operates online consumer platform in the United States. It operates through three segments: Home, Consumer, and Insurance. The Home segment offers purchase mortgage, refinance mortgage, and home equity loans and lines of credit; and real estate brokerage services.