Geode Capital Management LLC Buys 18,207 Shares of LendingTree, Inc. $TREE

Geode Capital Management LLC boosted its stake in shares of LendingTree, Inc. (NASDAQ:TREE) by 7.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 267,264 shares of the financial services provider’s stock after purchasing an additional 18,207 shares during the quarter. Geode Capital Management LLC’s holdings in LendingTree were worth $9,909,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Nuveen LLC bought a new position in shares of LendingTree during the 1st quarter worth about $11,603,000. Harbor Capital Advisors Inc. acquired a new stake in LendingTree during the second quarter worth about $7,337,000. Y Intercept Hong Kong Ltd acquired a new stake in LendingTree during the second quarter worth about $3,254,000. Acadian Asset Management LLC increased its stake in LendingTree by 53.4% during the second quarter. Acadian Asset Management LLC now owns 224,169 shares of the financial services provider’s stock valued at $8,305,000 after acquiring an additional 78,012 shares during the period. Finally, Trexquant Investment LP raised its holdings in LendingTree by 45.7% in the 1st quarter. Trexquant Investment LP now owns 118,430 shares of the financial services provider’s stock valued at $5,953,000 after acquiring an additional 37,122 shares in the last quarter. 68.26% of the stock is owned by institutional investors.

LendingTree Stock Up 1.8%

Shares of NASDAQ TREE opened at $56.72 on Thursday. LendingTree, Inc. has a 52-week low of $33.50 and a 52-week high of $77.35. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.43 and a current ratio of 1.43. The business has a fifty day moving average of $57.94 and a two-hundred day moving average of $52.64. The stock has a market cap of $775.42 million, a PE ratio of 56.16 and a beta of 2.08.

LendingTree (NASDAQ:TREE) last announced its earnings results on Thursday, October 30th. The financial services provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.47. LendingTree had a net margin of 1.34% and a return on equity of 36.30%. The business had revenue of $290.62 million during the quarter, compared to analysts’ expectations of $278.36 million. During the same quarter last year, the company posted $0.80 EPS. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, equities research analysts expect that LendingTree, Inc. will post 0.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TREE has been the topic of several recent research reports. Truist Financial lifted their price objective on LendingTree from $62.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Keefe, Bruyette & Woods raised LendingTree from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, August 22nd. Zacks Research raised shares of LendingTree from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Wall Street Zen cut shares of LendingTree from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 10th. Finally, Needham & Company LLC lifted their target price on shares of LendingTree from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $74.29.

LendingTree Company 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.