SG Americas Securities LLC acquired a new stake in LendingTree (NASDAQ:TREE) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,902 shares of the financial services provider’s stock, valued at approximately $952,000.
A number of other institutional investors also recently added to or reduced their stakes in TREE. Schwab Charles Investment Management Inc. increased its stake in LendingTree by 1.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 34,069 shares of the financial services provider’s stock valued at $11,599,000 after buying an additional 634 shares during the period. IFP Advisors Inc increased its stake in LendingTree by 123,700.0% in the 4th quarter. IFP Advisors Inc now owns 1,238 shares of the financial services provider’s stock valued at $421,000 after buying an additional 1,237 shares during the period. APG Asset Management N.V. acquired a new position in LendingTree in the 4th quarter valued at approximately $1,616,000. IFG Advisory LLC acquired a new position in LendingTree in the 4th quarter valued at approximately $1,723,000. Finally, Private Advisory Group LLC acquired a new position in LendingTree in the 4th quarter valued at approximately $844,000. Hedge funds and other institutional investors own 78.55% of the company’s stock.
LendingTree opened at $259.85 on Friday, according to MarketBeat. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.73. The firm has a market cap of $3.40 billion, a P/E ratio of 86.04, a PEG ratio of 2.09 and a beta of 1.77. LendingTree has a 1 year low of $154.60 and a 1 year high of $404.40.
LendingTree announced that its board has initiated a stock buyback program on Thursday, February 22nd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
Several brokerages have recently commented on TREE. Stephens increased their price target on shares of LendingTree from $385.00 to $420.00 and gave the stock an “overweight” rating in a research note on Monday, March 19th. They noted that the move was a valuation call. BidaskClub upgraded shares of LendingTree from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 17th. SunTrust Banks restated a “hold” rating and set a $360.00 price target on shares of LendingTree in a research note on Thursday, February 22nd. Susquehanna Bancshares began coverage on shares of LendingTree in a research note on Wednesday, March 7th. They set a “neutral” rating and a $325.00 price target on the stock. Finally, ValuEngine lowered shares of LendingTree from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $339.57.
In related news, insider Carla Shumate sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $350.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the insider now directly owns 7,427 shares of the company’s stock, valued at approximately $2,599,450. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas R. Lebda sold 14,750 shares of the company’s stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $324.56, for a total transaction of $4,787,260.00. Following the sale, the chief executive officer now directly owns 532,076 shares of the company’s stock, valued at $172,690,586.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 232,047 shares of company stock valued at $68,655,060. 20.50% of the stock is owned by insiders.
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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