Shares of Lendingtree Inc (NASDAQ:TREE) have been assigned a consensus recommendation of “Buy” from the seventeen research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $308.36.
Several equities research analysts have commented on TREE shares. Bank of America reissued a “buy” rating and set a $425.00 price target on shares of Lendingtree in a research report on Tuesday, January 23rd. SunTrust Banks started coverage on shares of Lendingtree in a research report on Tuesday, January 23rd. They set a “hold” rating on the stock. Oppenheimer boosted their price target on shares of Lendingtree from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, December 14th. Guggenheim set a $360.00 target price on shares of Lendingtree and gave the company a “buy” rating in a report on Thursday, December 14th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $340.00 target price on shares of Lendingtree in a report on Thursday, December 14th.
Shares of Lendingtree (TREE) traded down $3.45 during trading hours on Friday, reaching $350.20. 89,906 shares of the company’s stock traded hands, compared to its average volume of 232,227. The company has a quick ratio of 2.97, a current ratio of 2.97 and a debt-to-equity ratio of 0.81. Lendingtree has a 52-week low of $115.50 and a 52-week high of $404.40. The company has a market cap of $4,292.66, a PE ratio of 325.93, a PEG ratio of 2.10 and a beta of 1.66.
Lendingtree announced that its Board of Directors has initiated 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. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
In related news, Director Steven Ozonian sold 500 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $360.00, for a total value of $180,000.00. Following the transaction, the director now owns 8,879 shares in the company, valued at approximately $3,196,440. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Douglas R. Lebda sold 8,000 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $320.11, for a total transaction of $2,560,880.00. Following the completion of the transaction, the chief executive officer now owns 397,218 shares in the company, valued at approximately $127,153,453.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,654 shares of company stock worth $37,172,557. 21.90% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in shares of Lendingtree by 1.8% during the 4th quarter. BlackRock Inc. now owns 880,746 shares of the financial services provider’s stock worth $299,851,000 after purchasing an additional 15,596 shares in the last quarter. Jackson Square Partners LLC boosted its position in shares of Lendingtree by 0.3% during the 3rd quarter. Jackson Square Partners LLC now owns 549,600 shares of the financial services provider’s stock worth $134,349,000 after acquiring an additional 1,853 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Lendingtree by 55.6% during the 3rd quarter. Macquarie Group Ltd. now owns 221,383 shares of the financial services provider’s stock worth $54,117,000 after acquiring an additional 79,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Lendingtree by 38.7% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 179,800 shares of the financial services provider’s stock worth $43,952,000 after acquiring an additional 50,200 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Lendingtree by 6.8% during the 2nd quarter. State Street Corp now owns 165,642 shares of the financial services provider’s stock worth $28,527,000 after acquiring an additional 10,547 shares in the last quarter. Institutional investors and hedge funds own 77.36% of the company’s stock.
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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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