BidaskClub lowered shares of Lendingtree (NASDAQ:TREE) from a buy rating to a hold rating in a report issued on Thursday morning.
Several other equities research analysts have also recently commented on the company. UBS began coverage on Lendingtree in a report on Tuesday, March 27th. They issued a neutral rating and a $375.00 price target for the company. Stephens increased their price target on Lendingtree from $385.00 to $420.00 and gave the company an overweight rating in a report on Monday, March 19th. They noted that the move was a valuation call. Susquehanna Bancshares began coverage on Lendingtree in a report on Wednesday, March 7th. They issued a neutral rating and a $325.00 price target for the company. ValuEngine cut Lendingtree from a buy rating to a hold rating in a report on Wednesday, March 7th. Finally, Northland Securities reaffirmed a buy rating and issued a $360.00 price target on shares of Lendingtree in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $327.33.
Shares of NASDAQ:TREE traded up $0.60 during midday trading on Thursday, hitting $320.25. The company had a trading volume of 173,269 shares, compared to its average volume of 220,247. Lendingtree has a twelve month low of $116.70 and a twelve month high of $404.40. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.97 and a current ratio of 2.97. The stock has a market cap of $4,014.11, a PE ratio of 105.84, a P/E/G ratio of 1.96 and a beta of 1.73.
Lendingtree announced that its board has initiated a stock repurchase program on Thursday, February 22nd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other Lendingtree news, CEO Douglas R. Lebda sold 14,750 shares of the firm’s stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $324.56, for a total transaction of $4,787,260.00. Following the completion of the sale, the chief executive officer now owns 532,076 shares of the company’s stock, valued at $172,690,586.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Carla Shumate sold 4,800 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $343.72, for a total value of $1,649,856.00. Following the sale, the insider now directly owns 7,227 shares of the company’s stock, valued at approximately $2,484,064.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,404 shares of company stock valued at $29,927,737. 21.90% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Invictus RG acquired a new stake in shares of Lendingtree in the third quarter valued at $104,000. Public Employees Retirement Association of Colorado acquired a new stake in shares of Lendingtree in the fourth quarter valued at $153,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Lendingtree by 34.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 639 shares of the financial services provider’s stock valued at $218,000 after buying an additional 165 shares in the last quarter. Polen Capital Management LLC acquired a new stake in shares of Lendingtree in the fourth quarter valued at $227,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of Lendingtree in the fourth quarter valued at $234,000. 77.02% of the stock is owned by institutional investors and hedge funds.
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LendingTree, Inc, through its subsidiary, LendingTree, LLC, operates an online loan marketplace for consumers seeking loans and other credit-based offerings in the United States. Its mortgage products comprise purchase and refinance products. The company also provides information, tools, and access to various conditional loan offers for non-mortgage products, including auto loans, credit cards, home equity loans, personal loans, reverse mortgages, small business loans, and student loans.
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