Evolve Private Wealth LLC Acquires New Shares in LendingTree, Inc. $TREE

Evolve Private Wealth LLC acquired a new position in shares of LendingTree, Inc. (NASDAQ:TREE) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 14,434 shares of the financial services provider’s stock, valued at approximately $619,000. Evolve Private Wealth LLC owned 0.10% of LendingTree at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. acquired a new stake in shares of LendingTree during the fourth quarter worth about $25,000. Fifth Third Bancorp bought a new position in shares of LendingTree during the 4th quarter valued at about $32,000. Tower Research Capital LLC TRC grew its position in shares of LendingTree by 281.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,120 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 826 shares during the period. New York State Teachers Retirement System bought a new stake in LendingTree during the 4th quarter worth approximately $54,000. Finally, McIlrath & Eck LLC bought a new stake in LendingTree during the 4th quarter worth approximately $59,000. 68.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TREE. JPMorgan Chase & Co. assumed coverage on shares of LendingTree in a research report on Tuesday, April 14th. They set an “overweight” rating and a $50.00 price objective for the company. Wall Street Zen lowered shares of LendingTree from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Truist Financial set a $78.00 target price on LendingTree in a report on Friday, May 1st. Zacks Research raised LendingTree from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 8th. Finally, Keefe, Bruyette & Woods dropped their price target on LendingTree from $83.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $68.60.

LendingTree Stock Performance

Shares of TREE stock opened at $38.21 on Thursday. LendingTree, Inc. has a 12 month low of $32.65 and a 12 month high of $77.35. The company’s fifty day simple moving average is $40.07 and its 200-day simple moving average is $45.60. The firm has a market cap of $533.03 million, a PE ratio of 2.97 and a beta of 2.04. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 1.27.

LendingTree (NASDAQ:TREE) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $1.38 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.11). LendingTree had a return on equity of 17.01% and a net margin of 15.02%.The business had revenue of $319.07 million for the quarter, compared to the consensus estimate of $321.32 million. During the same period last year, the firm earned $0.99 earnings per share. The company’s quarterly revenue was up 36.5% compared to the same quarter last year. Equities research analysts expect that LendingTree, Inc. will post 3.64 EPS for the current fiscal year.

LendingTree Profile

LendingTree, Inc operates an online marketplace that connects consumers with a network of lenders and financial service providers. Through its platform, borrowers can compare loan offers for mortgages, home equity loans, personal loans, student loans, auto loans and small business financing. The company also offers tools for comparing credit cards and deposit accounts, allowing users to research rates and terms from a range of providers in one place.

Founded in 1996 by Doug Lebda, LendingTree pioneered the comparison-shopping model for consumer credit products.