LendingTree, Inc. (NASDAQ:TREE) announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.17, Bloomberg Earnings reports. LendingTree had a net margin of 5.85% and a return on equity of 17.01%. The company had revenue of $152.80 million for the quarter, compared to analysts’ expectations of $135.48 million. During the same quarter in the previous year, the company posted $0.92 EPS. The business’s revenue was up 62.0% compared to the same quarter last year.
Shares of LendingTree (NASDAQ:TREE) opened at 229.25 on Monday. The company’s 50 day moving average is $180.38 and its 200 day moving average is $142.34. The firm has a market capitalization of $2.75 billion, a PE ratio of 107.03 and a beta of 1.58. LendingTree has a 12-month low of $75.05 and a 12-month high of $231.30.
Several research analysts have commented on TREE shares. Needham & Company LLC raised their target price on shares of LendingTree from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, June 20th. Bank of America Corporation reiterated a “buy” rating and issued a $190.00 target price (up from $160.00) on shares of LendingTree in a report on Friday, June 9th. Royal Bank Of Canada reiterated a “buy” rating on shares of LendingTree in a report on Friday, June 9th. BWS Financial raised their target price on shares of LendingTree from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Finally, Northland Securities reiterated a “buy” rating and issued a $150.00 target price on shares of LendingTree in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating and thirteen have given a buy rating to the company. LendingTree currently has a consensus rating of “Buy” and a consensus price target of $178.07.
In other LendingTree news, Director Interactive Corp Liberty bought 450,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was acquired at an average cost of $170.70 per share, with a total value of $76,815,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Douglas R. Lebda sold 8,000 shares of the stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $178.49, for a total value of $1,427,920.00. Following the sale, the chief executive officer now directly owns 501,218 shares of the company’s stock, valued at $89,462,400.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 118,145 shares of company stock valued at $18,548,851. 21.90% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in TREE. Redwood Investments LLC increased its position in LendingTree by 9.6% in the second quarter. Redwood Investments LLC now owns 69,443 shares of the financial services provider’s stock worth $11,958,000 after buying an additional 6,089 shares during the period. Nikko Asset Management Americas Inc. increased its position in LendingTree by 1,314.7% in the second quarter. Nikko Asset Management Americas Inc. now owns 134,400 shares of the financial services provider’s stock worth $23,144,000 after buying an additional 124,900 shares during the period. BNP Paribas Arbitrage SA increased its position in LendingTree by 147.3% in the second quarter. BNP Paribas Arbitrage SA now owns 3,312 shares of the financial services provider’s stock worth $570,000 after buying an additional 1,973 shares during the period. Legal & General Group Plc increased its position in LendingTree by 10.6% in the second quarter. Legal & General Group Plc now owns 12,992 shares of the financial services provider’s stock worth $2,239,000 after buying an additional 1,240 shares during the period. Finally, Bank of New York Mellon Corp increased its position in LendingTree by 20.0% in the second quarter. Bank of New York Mellon Corp now owns 104,227 shares of the financial services provider’s stock worth $17,948,000 after buying an additional 17,338 shares during the period. 75.33% of the stock is owned by hedge funds and other institutional investors.
LendingTree Company Profile
LendingTree, Inc (LendingTree) is engaged in operating an online loan marketplace for consumers seeking loans and other credit-based offerings. The Company’s online marketplace provides consumers with access to product offerings from various lenders, which it refers to as Network Lenders, including mortgage loans, home equity loans and lines of credit, reverse mortgage loans, auto loans, credit cards, personal loans, student loans, small business loans and other related offerings.
Receive News & Ratings for LendingTree Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LendingTree Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
