LendingTree (NASDAQ:TREE) Stock Price Down 4.3% After Insider Selling


Share on StockTwits

LendingTree, Inc. (NASDAQ:TREE) shares dropped 4.3% during mid-day trading on Thursday following insider selling activity. The company traded as low as $217.77 and last traded at $219.37. Approximately 4,443 shares changed hands during trading, a decline of 98% from the average daily volume of 281,387 shares. The stock had previously closed at $229.26.

Specifically, President Neil Salvage sold 1,100 shares of the company’s stock in a transaction dated Friday, March 5th. The shares were sold at an average price of $239.00, for a total value of $262,900.00. Following the sale, the president now owns 5,004 shares of the company’s stock, valued at $1,195,956. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director G Kennedy Thompson purchased 3,500 shares of LendingTree stock in a transaction on Friday, February 26th. The stock was acquired at an average cost of $276.21 per share, for a total transaction of $966,735.00. Following the acquisition, the director now directly owns 4,845 shares of the company’s stock, valued at $1,338,237.45. The disclosure for this purchase can be found here. Insiders own 17.90% of the company’s stock.

Several brokerages have issued reports on TREE. Truist reduced their price target on shares of LendingTree from $335.00 to $350.00 in a report on Thursday, February 25th. JPMorgan Chase & Co. upped their price objective on shares of LendingTree from $330.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, March 1st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of LendingTree from $360.00 to $365.00 and gave the company a “buy” rating in a research note on Wednesday, January 13th. Finally, Northland Securities reissued an “underperform” rating and set a $200.00 price objective (down previously from $225.00) on shares of LendingTree in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $311.31.

The firm’s 50-day moving average price is $250.87 and its 200-day moving average price is $289.33. The company has a market cap of $2.88 billion, a price-to-earnings ratio of -75.66 and a beta of 1.75. The company has a debt-to-equity ratio of 1.67, a current ratio of 2.29 and a quick ratio of 2.29.

LendingTree (NASDAQ:TREE) last announced its earnings results on Thursday, February 25th. The financial services provider reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.69. The business had revenue of $222.33 million during the quarter, compared to the consensus estimate of $221.30 million. LendingTree had a negative net margin of 4.05% and a negative return on equity of 1.85%. On average, sell-side analysts anticipate that LendingTree, Inc. will post -2.65 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Treasurer of the State of North Carolina boosted its stake in LendingTree by 38.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 3,992 shares of the financial services provider’s stock valued at $1,093,000 after acquiring an additional 1,100 shares during the last quarter. Principal Financial Group Inc. boosted its stake in LendingTree by 38.6% during the 4th quarter. Principal Financial Group Inc. now owns 32,902 shares of the financial services provider’s stock valued at $9,008,000 after acquiring an additional 9,165 shares during the last quarter. BlackRock Inc. boosted its stake in LendingTree by 45.3% during the 4th quarter. BlackRock Inc. now owns 1,016,389 shares of the financial services provider’s stock valued at $278,276,000 after acquiring an additional 316,744 shares during the last quarter. SG Americas Securities LLC boosted its stake in LendingTree by 698.5% during the 4th quarter. SG Americas Securities LLC now owns 3,282 shares of the financial services provider’s stock valued at $899,000 after acquiring an additional 2,871 shares during the last quarter. Finally, Twinbeech Capital LP bought a new position in LendingTree during the 3rd quarter valued at $232,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

LendingTree Company Profile (NASDAQ:TREE)

LendingTree, Inc, through its subsidiary, LT Intermediate Company, LLC, operates online consumer platform in the United States. It operates through three segments: Home, Consumer, and Insurance. The Home segment offers purchase mortgage, refinance mortgage, reverse mortgage, and home equity loans; lines of credit; and real estate brokerage services.

See Also: Inverted Yield Curve

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.