Swiss National Bank Trims Stock Position in Lendingtree Inc (NASDAQ:TREE)

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Swiss National Bank lessened its position in shares of Lendingtree Inc (NASDAQ:TREE) by 5.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,350 shares of the financial services provider’s stock after selling 800 shares during the quarter. Swiss National Bank owned about 0.11% of Lendingtree worth $6,027,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Retirement Systems of Alabama raised its position in shares of Lendingtree by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 9,716 shares of the financial services provider’s stock valued at $4,081,000 after buying an additional 28 shares during the period. Crossmark Global Holdings Inc. raised its position in Lendingtree by 2.6% in the first quarter. Crossmark Global Holdings Inc. now owns 1,369 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 35 shares during the period. Oregon Public Employees Retirement Fund raised its position in Lendingtree by 1.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 2,983 shares of the financial services provider’s stock valued at $1,253,000 after purchasing an additional 43 shares during the period. Strs Ohio raised its position in Lendingtree by 10.8% in the second quarter. Strs Ohio now owns 443 shares of the financial services provider’s stock valued at $186,000 after purchasing an additional 43 shares during the period. Finally, Aperio Group LLC raised its position in Lendingtree by 2.8% in the second quarter. Aperio Group LLC now owns 2,071 shares of the financial services provider’s stock valued at $870,000 after purchasing an additional 57 shares during the period. 77.15% of the stock is currently owned by hedge funds and other institutional investors.

Lendingtree stock opened at $303.06 on Wednesday. Lendingtree Inc has a twelve month low of $183.25 and a twelve month high of $434.94. The stock’s fifty day simple moving average is $346.76 and its 200-day simple moving average is $359.90. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $3.88 billion, a P/E ratio of 34.13, a P/E/G ratio of 10.52 and a beta of 2.18.

Lendingtree (NASDAQ:TREE) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.50. Lendingtree had a return on equity of 12.54% and a net margin of 3.63%. The business had revenue of $278.40 million for the quarter, compared to analyst estimates of $267.46 million. During the same quarter in the prior year, the company earned $1.47 earnings per share. The company’s revenue was up 51.2% on a year-over-year basis. Sell-side analysts predict that Lendingtree Inc will post 1.22 earnings per share for the current year.

TREE has been the topic of a number of research analyst reports. Bank of America reissued a “buy” rating and issued a $390.00 target price (down previously from $420.00) on shares of Lendingtree in a research report on Friday, July 26th. Royal Bank of Canada lowered Lendingtree from an “outperform” rating to a “sector perform” rating and set a $415.00 target price on the stock. in a research report on Monday, July 1st. They noted that the move was a valuation call. TheStreet lowered Lendingtree from a “b” rating to a “c+” rating in a research report on Monday, July 29th. Susquehanna Bancshares raised Lendingtree from a “neutral” rating to a “positive” rating in a research report on Thursday, July 25th. Finally, ValuEngine lowered Lendingtree from a “buy” rating to a “hold” rating in a research report on Monday, June 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $358.67.

In related news, Director Peter Horan sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $312.65, for a total transaction of $312,650.00. Following the completion of the transaction, the director now owns 20,088 shares in the company, valued at $6,280,513.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Sushil Sharma sold 2,128 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $317.03, for a total transaction of $674,639.84. Following the transaction, the insider now owns 8,097 shares of the company’s stock, valued at approximately $2,566,991.91. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,383 shares of company stock valued at $18,368,103. Insiders own 17.90% of the company’s stock.

Lendingtree Company Profile

LendingTree, Inc, through its subsidiary, LendingTree, LLC, operates an online loan marketplace for consumers seeking loans 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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Institutional Ownership by Quarter for Lendingtree (NASDAQ:TREE)

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