Raymond James Financial Inc. Takes Position in LendingTree, Inc. (NASDAQ:TREE)

Raymond James Financial Inc. purchased a new position in shares of LendingTree, Inc. (NASDAQ:TREE) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 32,374 shares of the financial services provider’s stock, valued at approximately $1,254,000. Raymond James Financial Inc. owned approximately 0.24% of LendingTree as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. National Bank of Canada FI bought a new position in LendingTree in the third quarter valued at approximately $32,000. Point72 DIFC Ltd boosted its holdings in shares of LendingTree by 77.0% during the 3rd 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 in the last quarter. Asset Management One Co. Ltd. increased its holdings in LendingTree by 101.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,027 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 1,021 shares during the period. HighTower Advisors LLC bought a new position in shares of LendingTree in the 3rd quarter worth about $208,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of LendingTree in the 3rd quarter valued at about $223,000. Institutional investors own 68.26% of the company’s stock.

Insider Activity

In other news, COO Scott Peyree acquired 9,794 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $46.13 per share, for a total transaction of $451,797.22. Following the acquisition, the chief operating officer now owns 97,566 shares of the company’s stock, valued at $4,500,719.58. This represents a 11.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 23.40% of the company’s stock.

LendingTree Stock Up 1.3 %

TREE stock opened at $53.47 on Thursday. The stock has a market capitalization of $716.18 million, a P/E ratio of -19.80 and a beta of 1.90. LendingTree, Inc. has a 52 week low of $33.58 and a 52 week high of $62.49. The firm has a 50-day simple moving average of $46.25 and a 200-day simple moving average of $47.06. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.67.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TREE shares. Needham & Company LLC reduced their target price on shares of LendingTree from $78.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Northland Capmk raised shares of LendingTree from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their target price on shares of LendingTree from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. StockNews.com upgraded LendingTree from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 18th. Finally, Stephens restated an “overweight” rating and issued a $69.00 target price on shares of LendingTree in a research note on Thursday, March 6th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $65.75.

LendingTree 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.