The Manufacturers Life Insurance Company Makes New $223,000 Investment in LendingTree, Inc. (NASDAQ:TREE)

The Manufacturers Life Insurance Company acquired a new stake in shares of LendingTree, Inc. (NASDAQ:TREE) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,850 shares of the financial services provider’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Hennessy Advisors Inc. purchased a new position in LendingTree during the second quarter valued at approximately $8,380,000. Lisanti Capital Growth LLC acquired a new position in LendingTree during the third quarter worth $3,651,000. Renaissance Technologies LLC lifted its holdings in LendingTree by 25.0% during the second quarter. Renaissance Technologies LLC now owns 292,900 shares of the financial services provider’s stock valued at $12,182,000 after purchasing an additional 58,500 shares in the last quarter. ClariVest Asset Management LLC acquired a new stake in shares of LendingTree in the second quarter valued at about $1,360,000. Finally, GSA Capital Partners LLP purchased a new stake in LendingTree during the 3rd quarter worth approximately $1,612,000. Institutional investors and hedge funds own 68.26% of the company’s stock.

Insider Activity at LendingTree

In related news, General Counsel Heather Enlow-Novitsky sold 564 shares of LendingTree stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $52.54, for a total value of $29,632.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Scott V. Totman acquired 3,750 shares of the company’s stock in a transaction on Friday, December 6th. The stock was purchased at an average cost of $38.59 per share, for a total transaction of $144,712.50. Following the completion of the transaction, the chief technology officer now owns 18,192 shares in the company, valued at approximately $702,029.28. The trade was a 25.97 % increase in their position. The disclosure for this purchase can be found here. 23.40% of the stock is currently owned by company insiders.

LendingTree Stock Performance

Shares of TREE stock opened at $40.12 on Tuesday. LendingTree, Inc. has a 52 week low of $24.55 and a 52 week high of $62.49. The firm has a 50 day moving average of $49.05 and a two-hundred day moving average of $49.37. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.67. The stock has a market capitalization of $536.08 million, a PE ratio of -14.82 and a beta of 2.03.

Wall Street Analysts Forecast Growth

TREE has been the topic of a number of research reports. Oppenheimer raised their price objective on LendingTree from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods lifted their target price on shares of LendingTree from $71.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Susquehanna increased their price objective on LendingTree from $50.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Truist Financial raised their target price on LendingTree from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, StockNews.com cut shares of LendingTree from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $64.00.

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.