Northland Securities reaffirmed their buy rating on shares of Lendingtree (NASDAQ:TREE) in a research report report published on Friday. The brokerage currently has a $360.00 price objective on the financial services provider’s stock.
A number of other research firms have also recently weighed in on TREE. Zacks Investment Research cut Lendingtree from a hold rating to a sell rating in a report on Thursday, October 26th. Oppenheimer raised their price target on Lendingtree from $245.00 to $290.00 and gave the company an outperform rating in a report on Friday, October 27th. Bank of America reaffirmed a buy rating and set a $425.00 price target on shares of Lendingtree in a report on Tuesday, January 23rd. Stephens raised their price target on Lendingtree from $250.00 to $300.00 and gave the company an overweight rating in a report on Thursday, October 26th. Finally, Citigroup reaffirmed an outperform rating and set a $290.00 price target on shares of Lendingtree in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $307.14.
Shares of Lendingtree (TREE) opened at $359.25 on Friday. Lendingtree has a twelve month low of $115.20 and a twelve month high of $404.40. The firm has a market capitalization of $4,300.00, a price-to-earnings ratio of 170.26, a P/E/G ratio of 1.82 and a beta of 1.62. The company has a current ratio of 2.97, a quick ratio of 3.86 and a debt-to-equity ratio of 0.81.
Lendingtree declared that its Board of Directors has approved a share buyback plan on Thursday, February 22nd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other Lendingtree news, CEO Douglas R. Lebda sold 8,000 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $299.13, for a total value of $2,393,040.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas R. Lebda sold 4,000 shares of the stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $350.36, for a total value of $1,401,440.00. Following the completion of the transaction, the chief executive officer now owns 536,878 shares in the company, valued at $188,100,576.08. The disclosure for this sale can be found here. Insiders sold a total of 123,876 shares of company stock worth $41,025,359 over the last quarter. Corporate insiders own 21.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. boosted its position in Lendingtree by 7.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 2,969 shares of the financial services provider’s stock valued at $1,011,000 after buying an additional 202 shares during the last quarter. Xact Kapitalforvaltning AB bought a new position in Lendingtree in the 4th quarter valued at $234,000. Pier Capital LLC bought a new position in shares of Lendingtree in the 4th quarter worth $5,974,000. MetLife Investment Advisors LLC bought a new position in shares of Lendingtree in the 4th quarter worth $1,018,000. Finally, Jane Street Group LLC boosted its position in shares of Lendingtree by 128.6% in the 4th quarter. Jane Street Group LLC now owns 1,166 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 5,239 shares during the last quarter. Hedge funds and other institutional investors own 74.60% of the company’s stock.
Lendingtree Company Profile
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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