Rhumbline Advisers Lowers Stake in LendingTree, Inc. (NASDAQ:TREE)

Rhumbline Advisers decreased its holdings in LendingTree, Inc. (NASDAQ:TREE) by 10.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,810 shares of the financial services provider’s stock after selling 1,689 shares during the period. Rhumbline Advisers owned approximately 0.11% of LendingTree worth $616,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TREE. Versor Investments LP bought a new stake in shares of LendingTree in the 2nd quarter worth approximately $204,000. Bank of New York Mellon Corp raised its stake in shares of LendingTree by 7.6% in the second quarter. Bank of New York Mellon Corp now owns 40,268 shares of the financial services provider’s stock worth $1,675,000 after purchasing an additional 2,830 shares during the last quarter. Hennessy Advisors Inc. bought a new position in LendingTree during the 2nd quarter valued at about $8,380,000. SG Americas Securities LLC grew its position in LendingTree by 297.2% in the 2nd quarter. SG Americas Securities LLC now owns 11,797 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 8,827 shares during the period. Finally, CWM LLC increased its position in 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 acquiring an additional 420 shares during the last quarter. Hedge funds and other institutional investors own 68.26% of the company’s stock.

LendingTree Stock Performance

Shares of TREE stock opened at $57.98 on Wednesday. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 3.21. The company has a market cap of $766.79 million, a PE ratio of -5.59 and a beta of 2.12. The business’s fifty day simple moving average is $53.10 and its 200-day simple moving average is $46.00. LendingTree, Inc. has a 12-month low of $10.12 and a 12-month high of $62.27.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial boosted their price objective 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. StockNews.com raised shares of LendingTree from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Northland Securities raised their price target on LendingTree from $50.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Susquehanna increased their target price on LendingTree from $42.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Stephens raised their price objective on LendingTree from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, LendingTree presently has a consensus rating of “Moderate Buy” and an average price target of $58.13.

LendingTree Company Profile

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.