LendingTree, Inc. (NASDAQ:TREE) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in LendingTree, Inc. (NASDAQ:TREE) by 25.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 292,900 shares of the financial services provider’s stock after purchasing an additional 58,500 shares during the quarter. Renaissance Technologies LLC owned about 2.20% of LendingTree worth $12,182,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TREE. CWM LLC raised its position in shares of LendingTree by 230.8% in the second quarter. CWM LLC now owns 602 shares of the financial services provider’s stock valued at $25,000 after buying an additional 420 shares during the last quarter. Headlands Technologies LLC grew its stake in LendingTree by 16.8% during the 1st quarter. Headlands Technologies LLC now owns 1,881 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 270 shares in the last quarter. Quest Partners LLC acquired a new position in shares of LendingTree during the 4th quarter worth approximately $103,000. Meeder Asset Management Inc. purchased a new stake in shares of LendingTree in the second quarter valued at approximately $139,000. Finally, Versor Investments LP acquired a new stake in shares of LendingTree in the second quarter valued at approximately $204,000. Hedge funds and other institutional investors own 68.26% of the company’s stock.

LendingTree Stock Performance

NASDAQ:TREE opened at $60.10 on Monday. LendingTree, Inc. has a fifty-two week low of $10.12 and a fifty-two week high of $62.27. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.82 and a current ratio of 1.82. The company has a 50 day moving average price of $52.83 and a 200 day moving average price of $45.75. The stock has a market capitalization of $794.82 million, a P/E ratio of -5.79 and a beta of 2.12.

LendingTree (NASDAQ:TREE) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.19). The firm had revenue of $210.10 million for the quarter, compared to analysts’ expectations of $187.41 million. LendingTree had a negative return on equity of 2.98% and a negative net margin of 19.02%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. Equities research analysts forecast that LendingTree, Inc. will post -0.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TREE. Susquehanna boosted their price objective on LendingTree from $42.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Northland Securities lifted their target price on shares of LendingTree from $50.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Truist Financial increased their price target on shares of LendingTree from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Needham & Company LLC lifted their price target on shares of LendingTree from $56.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Stephens increased their price objective on LendingTree from $55.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $58.13.

About LendingTree

LendingTree, Inc, through its subsidiary, 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, and home equity loans and lines of credit; and real estate brokerage services.