Victory Capital Management Inc. Trims Holdings in LendingTree, Inc. (NASDAQ:TREE)

Victory Capital Management Inc. trimmed its stake in shares of LendingTree, Inc. (NASDAQ:TREE) by 5.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,700 shares of the financial services provider’s stock after selling 3,090 shares during the quarter. Victory Capital Management Inc. owned 0.42% of LendingTree worth $2,317,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. CWM LLC increased its position in shares of LendingTree by 230.8% during 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 period. Headlands Technologies LLC increased its holdings in LendingTree by 16.8% during the 1st quarter. Headlands Technologies LLC now owns 1,881 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 270 shares during the period. Quest Partners LLC purchased a new stake in LendingTree in the 4th quarter worth approximately $103,000. Versor Investments LP purchased a new stake in LendingTree in the 2nd quarter worth approximately $204,000. Finally, Caxton Associates LP bought a new position in LendingTree in the 1st quarter valued at $327,000. Hedge funds and other institutional investors own 68.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Northland Securities increased their price objective on LendingTree from $50.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Oppenheimer raised their price target on LendingTree from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Susquehanna boosted their price objective on LendingTree from $42.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Needham & Company LLC upped their price objective on shares of LendingTree from $56.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Truist Financial lifted their target price on shares of LendingTree from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.13.

LendingTree Stock Performance

NASDAQ:TREE opened at $58.37 on Wednesday. LendingTree, Inc. has a 1-year low of $10.12 and a 1-year high of $62.27. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.82 and a quick ratio of 1.82. The business has a 50 day moving average of $51.94 and a 200 day moving average of $45.34. The company has a market capitalization of $771.94 million, a price-to-earnings ratio of -5.62 and a beta of 2.12.

LendingTree (NASDAQ:TREE) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.19). LendingTree had a negative net margin of 19.02% and a negative return on equity of 2.98%. The business had revenue of $210.10 million during the quarter, compared to analysts’ expectations of $187.41 million. During the same period last year, the company posted $0.43 EPS. LendingTree’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, sell-side analysts predict that LendingTree, Inc. will post -0.36 earnings per share for the current fiscal year.

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.