LendingTree, Inc. (NASDAQ:TREE) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in LendingTree, Inc. (NASDAQ:TREE) by 28.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,966 shares of the financial services provider’s stock after purchasing an additional 1,535 shares during the quarter. Envestnet Asset Management Inc. owned about 0.05% of LendingTree worth $1,476,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Asset Management One Co. Ltd. raised its stake in shares of LendingTree by 15.6% during the second quarter. Asset Management One Co. Ltd. now owns 467 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 63 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in LendingTree by 2.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,055 shares of the financial services provider’s stock worth $651,000 after buying an additional 70 shares in the last quarter. American International Group Inc. boosted its position in LendingTree by 0.4% in the 1st quarter. American International Group Inc. now owns 19,855 shares of the financial services provider’s stock valued at $4,229,000 after buying an additional 77 shares during the last quarter. Bank of Montreal Can grew its stake in shares of LendingTree by 13.2% during the first quarter. Bank of Montreal Can now owns 781 shares of the financial services provider’s stock valued at $176,000 after acquiring an additional 91 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in shares of LendingTree by 2.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 3,740 shares of the financial services provider’s stock worth $792,000 after acquiring an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 94.29% of the company’s stock.

Separately, Oppenheimer lowered their price objective on LendingTree from $325.00 to $275.00 and set an “outperform” rating for the company in a research note on Friday, July 16th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $319.29.

In related news, insider Neil Salvage sold 2,000 shares of LendingTree stock in a transaction dated Monday, August 9th. The shares were sold at an average price of $185.47, for a total value of $370,940.00. Following the sale, the insider now directly owns 3,475 shares in the company, valued at approximately $644,508.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robin Henderson sold 735 shares of the company’s stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $170.00, for a total transaction of $124,950.00. Following the completion of the transaction, the director now owns 469 shares of the company’s stock, valued at approximately $79,730. The disclosure for this sale can be found here. 16.70% of the stock is currently owned by corporate insiders.

Shares of NASDAQ TREE opened at $151.87 on Wednesday. The business has a 50 day simple moving average of $173.93 and a 200-day simple moving average of $198.88. LendingTree, Inc. has a twelve month low of $150.29 and a twelve month high of $372.64. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -220.10 and a beta of 1.48. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.11.

LendingTree (NASDAQ:TREE) last posted its quarterly earnings results on Thursday, July 29th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.89) by $1.65. LendingTree had a negative net margin of 0.74% and a negative return on equity of 3.64%. The company had revenue of $270.01 million for the quarter, compared to the consensus estimate of $271.01 million. As a group, equities analysts predict that LendingTree, Inc. will post -2.16 earnings per share for the current year.

LendingTree Profile

LendingTree, Inc engages in the operation of online loan marketplace for consumers seeking loans and other credit-based offerings. It operates through the following segments: Home, Consumer and Insurance. The Home segment consists of purchase mortgage, refinance mortgage, home equity loans and lines of credit and reverse mortgage loans and real estate.

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Institutional Ownership by Quarter for LendingTree (NASDAQ:TREE)

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