First Trust Advisors LP raised its holdings in shares of Lendingtree Inc (NASDAQ:TREE) by 110.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,351 shares of the financial services provider’s stock after acquiring an additional 7,543 shares during the quarter. First Trust Advisors LP’s holdings in Lendingtree were worth $5,045,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Crossmark Global Holdings Inc. grew its position in shares of Lendingtree by 2.6% during the first quarter. Crossmark Global Holdings Inc. now owns 1,369 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 35 shares in the last quarter. Retirement Systems of Alabama grew its position in Lendingtree by 0.4% in the first quarter. Retirement Systems of Alabama now owns 9,688 shares of the financial services provider’s stock worth $3,406,000 after acquiring an additional 41 shares in the last quarter. Mason Street Advisors LLC grew its position in Lendingtree by 1.5% in the first quarter. Mason Street Advisors LLC now owns 3,957 shares of the financial services provider’s stock worth $1,391,000 after acquiring an additional 60 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Lendingtree by 1.2% during the fourth quarter. Arizona State Retirement System now owns 5,340 shares of the financial services provider’s stock valued at $1,173,000 after buying an additional 62 shares during the period. Finally, Comerica Bank boosted its position in shares of Lendingtree by 1.9% during the fourth quarter. Comerica Bank now owns 5,079 shares of the financial services provider’s stock valued at $1,460,000 after buying an additional 96 shares during the period. 85.05% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO J D. Moriarty sold 8,899 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $390.23, for a total transaction of $3,472,656.77. Following the completion of the transaction, the chief financial officer now owns 11,735 shares of the company’s stock, valued at approximately $4,579,349.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gabriel Dalporto sold 637 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $386.34, for a total transaction of $246,098.58. Following the completion of the transaction, the director now directly owns 187 shares of the company’s stock, valued at approximately $72,245.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,492 shares of company stock valued at $17,105,998. Insiders own 17.90% of the company’s stock.
Lendingtree (NASDAQ:TREE) last issued its quarterly earnings data on Friday, April 26th. The financial services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.56. Lendingtree had a net margin of 7.62% and a return on equity of 13.71%. The business had revenue of $262.40 million during the quarter, compared to the consensus estimate of $239.73 million. During the same quarter in the prior year, the firm posted $1.10 earnings per share. The company’s revenue was up 45.0% compared to the same quarter last year. On average, sell-side analysts predict that Lendingtree Inc will post 3.85 earnings per share for the current year.
TREE has been the subject of several recent analyst reports. Northland Securities restated a “hold” rating on shares of Lendingtree in a research report on Friday, April 26th. Compass Point reaffirmed a “buy” rating and set a $345.00 price target (up from $305.00) on shares of Lendingtree in a research report on Tuesday, April 30th. SunTrust Banks reissued a “hold” rating and set a $260.00 price objective on shares of Lendingtree in a report on Tuesday, February 26th. Oppenheimer boosted their price objective on shares of Lendingtree from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, February 22nd. Finally, Deutsche Bank upped their price target on shares of Lendingtree from $270.00 to $330.00 and gave the company a “hold” rating in a report on Wednesday, February 27th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Lendingtree currently has a consensus rating of “Buy” and an average price target of $346.00.
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LendingTree, Inc, through its subsidiary, LendingTree, LLC, operates an online loan marketplace for consumers seeking loans in the United States. Its mortgage products comprise purchase and refinance products. The company also provides information, tools, and access to various conditional loan offers for non-mortgage products, including auto loans, credit cards, home equity loans, personal loans, reverse mortgages, small business loans, and student loans.
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