Allianz Asset Management GmbH decreased its stake in shares of Lendingtree Inc (NASDAQ:TREE) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 218,150 shares of the financial services provider’s stock after selling 13,035 shares during the period. Allianz Asset Management GmbH’s holdings in Lendingtree were worth $74,269,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of TREE. Ark Investment Management LLC increased its position in Lendingtree by 18.6% during the second quarter. Ark Investment Management LLC now owns 34,747 shares of the financial services provider’s stock worth $5,983,000 after purchasing an additional 5,450 shares during the last quarter. Voya Investment Management LLC increased its position in Lendingtree by 20.1% during the second quarter. Voya Investment Management LLC now owns 3,011 shares of the financial services provider’s stock worth $518,000 after purchasing an additional 504 shares during the last quarter. State Street Corp increased its position in Lendingtree by 6.8% during the second quarter. State Street Corp now owns 165,642 shares of the financial services provider’s stock worth $28,527,000 after purchasing an additional 10,547 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Lendingtree by 1.4% during the second quarter. The Manufacturers Life Insurance Company now owns 5,059 shares of the financial services provider’s stock worth $871,000 after purchasing an additional 70 shares during the last quarter. Finally, Aperio Group LLC acquired a new position in Lendingtree during the third quarter worth approximately $201,000. 74.60% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently commented on TREE. Royal Bank of Canada reaffirmed a “buy” rating and set a $385.00 price target on shares of Lendingtree in a research report on Friday, February 23rd. SunTrust Banks reissued a “hold” rating and issued a $360.00 price objective on shares of Lendingtree in a research report on Thursday, February 22nd. BidaskClub lowered shares of Lendingtree from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 24th. Northland Securities reissued a “buy” rating and issued a $360.00 price objective on shares of Lendingtree in a research report on Friday, February 23rd. Finally, Oppenheimer increased their price objective on shares of Lendingtree from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. Lendingtree has an average rating of “Buy” and an average target price of $307.14.
Lendingtree (NASDAQ:TREE) last released its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.06). The business had revenue of $161.00 million during the quarter, compared to analyst estimates of $150.25 million. Lendingtree had a return on equity of 14.67% and a net margin of 2.52%. Lendingtree’s revenue was up 59.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.87 EPS. research analysts forecast that Lendingtree Inc will post 5.01 EPS for the current fiscal year.
Lendingtree declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 22nd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
In other news, Director Steven Ozonian sold 500 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $360.00, for a total value of $180,000.00. Following the completion of the transaction, the director now directly owns 8,879 shares in the company, valued at $3,196,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas R. Lebda sold 8,000 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $306.96, for a total transaction of $2,455,680.00. Following the completion of the transaction, the chief executive officer now owns 403,818 shares of the company’s stock, valued at $123,955,973.28. The disclosure for this sale can be found here. Insiders sold 120,376 shares of company stock valued at $40,262,319 over the last 90 days. Insiders own 21.90% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This story was originally posted by Ticker Report and is owned by of Ticker Report. If you are viewing this story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The original version of this story can be viewed at https://www.tickerreport.com/banking-finance/3229598/lendingtree-inc-tree-shares-sold-by-allianz-asset-management-gmbh.html.
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.
Want to see what other hedge funds are holding TREE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lendingtree Inc (NASDAQ:TREE).
Receive News & Ratings for Lendingtree Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lendingtree and related companies with MarketBeat.com's FREE daily email newsletter.