Shares of Lendingtree Inc (NASDAQ:TREE) have been assigned an average recommendation of “Buy” from the seventeen analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $328.71.
TREE has been the subject of several recent research reports. Bank of America reaffirmed a “buy” rating and set a $425.00 target price on shares of Lendingtree in a report on Tuesday, January 23rd. SunTrust Banks assumed coverage on shares of Lendingtree in a research note on Tuesday, January 23rd. They issued a “hold” rating on the stock. BidaskClub cut shares of Lendingtree from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 30th. Oppenheimer lifted their price target on shares of Lendingtree from $340.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, December 14th. Finally, Guggenheim set a $360.00 price target on shares of Lendingtree and gave the company a “buy” rating in a research note on Thursday, December 14th.
Shares of NASDAQ:TREE traded up $3.15 during trading on Wednesday, hitting $322.80. 240,687 shares of the stock traded hands, compared to its average volume of 171,712. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.97 and a quick ratio of 2.97. The firm has a market cap of $3,913.72, a price-to-earnings ratio of 106.89, a price-to-earnings-growth ratio of 1.91 and a beta of 1.73. Lendingtree has a 52-week low of $116.70 and a 52-week high of $404.40.
Lendingtree announced that its Board of Directors has initiated a stock repurchase program on Thursday, February 22nd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other Lendingtree news, Director Gabriel Dalporto sold 46,876 shares of Lendingtree stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $340.07, for a total transaction of $15,941,121.32. Following the sale, the director now owns 47,513 shares of the company’s stock, valued at approximately $16,157,745.91. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Carla Shumate sold 4,800 shares of Lendingtree stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $343.72, for a total transaction of $1,649,856.00. Following the sale, the insider now directly owns 7,227 shares in the company, valued at approximately $2,484,064.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 103,154 shares of company stock worth $34,695,232. 21.90% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Invictus RG acquired a new position in shares of Lendingtree during the 3rd quarter valued at about $104,000. Public Employees Retirement Association of Colorado acquired a new position in shares of Lendingtree during the 4th quarter valued at about $153,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Lendingtree by 34.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 639 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 165 shares during the last quarter. Polen Capital Management LLC acquired a new position in shares of Lendingtree during the 4th quarter valued at about $227,000. Finally, Xact Kapitalforvaltning AB acquired a new position in shares of Lendingtree during the 4th quarter valued at about $234,000. 77.02% of the stock is currently owned by institutional investors.
Lendingtree Company Profile
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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