Geode Capital Management LLC Purchases 2,595 Shares of LendingTree, Inc. (NASDAQ:TREE)

Geode Capital Management LLC increased its position in LendingTree, Inc. (NASDAQ:TREE) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 253,208 shares of the financial services provider’s stock after purchasing an additional 2,595 shares during the quarter. Geode Capital Management LLC owned approximately 1.90% of LendingTree worth $14,697,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TREE. National Bank of Canada FI bought a new position in LendingTree in the third quarter worth $32,000. Point72 DIFC Ltd lifted its holdings in shares of LendingTree by 77.0% during the third quarter. Point72 DIFC Ltd now owns 1,147 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 499 shares during the period. nVerses Capital LLC lifted its holdings in shares of LendingTree by 200.0% during the third quarter. nVerses Capital LLC now owns 1,200 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 800 shares during the period. CWM LLC lifted its holdings in shares of LendingTree by 262.1% during the third quarter. CWM LLC now owns 2,180 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 1,578 shares during the period. Finally, Quest Partners LLC bought a new position in shares of LendingTree during the second quarter valued at $132,000. 68.26% of the stock is owned by institutional investors.

LendingTree Price Performance

Shares of TREE stock opened at $38.76 on Tuesday. The stock has a 50-day moving average price of $44.84 and a 200 day moving average price of $49.07. 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 firm has a market cap of $517.91 million, a price-to-earnings ratio of -14.36 and a beta of 2.03. LendingTree, Inc. has a 12 month low of $24.55 and a 12 month high of $62.49.

Analyst Ratings Changes

TREE has been the subject of a number of analyst reports. Oppenheimer lifted 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. Needham & Company LLC lifted their price objective on LendingTree from $67.00 to $78.00 and gave the company a “buy” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods lifted their price objective on LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Truist Financial lifted their price target on LendingTree from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, StockNews.com cut LendingTree from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Insider Buying and Selling

In other news, CEO Douglas R. Lebda acquired 13,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average cost of $39.72 per share, for a total transaction of $516,360.00. Following the completion of the transaction, the chief executive officer now directly owns 121,599 shares in the company, valued at $4,829,912.28. This trade represents a 11.97 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Heather Enlow-Novitsky sold 564 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $52.54, for a total value of $29,632.56. The disclosure for this sale can be found here. Corporate insiders own 23.40% of the company’s stock.

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.