Lendingtree Inc (NASDAQ:TREE) Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System grew its stake in Lendingtree Inc (NASDAQ:TREE) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,600 shares of the financial services provider’s stock after buying an additional 400 shares during the quarter. New York State Teachers Retirement System owned 0.11% of Lendingtree worth $6,132,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of Lendingtree by 117.0% in the 1st quarter. Victory Capital Management Inc. now owns 343,010 shares of the financial services provider’s stock valued at $120,589,000 after buying an additional 184,965 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Lendingtree by 57.5% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 122,101 shares of the financial services provider’s stock valued at $42,925,000 after purchasing an additional 44,601 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Lendingtree by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 114,460 shares of the financial services provider’s stock valued at $25,131,000 after purchasing an additional 1,170 shares in the last quarter. Scout Investments Inc. increased its stake in shares of Lendingtree by 2.6% in the 2nd quarter. Scout Investments Inc. now owns 66,169 shares of the financial services provider’s stock valued at $27,793,000 after purchasing an additional 1,695 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Lendingtree in the 4th quarter valued at about $12,737,000. 84.64% of the stock is owned by institutional investors and hedge funds.

In other news, CFO J D. Moriarty sold 8,899 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $390.23, for a total transaction of $3,472,656.77. Following the transaction, the chief financial officer now directly owns 11,735 shares in the company, valued at approximately $4,579,349.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Neil Salvage sold 9,468 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $374.33, for a total value of $3,544,156.44. Following the transaction, the president now owns 13,569 shares in the company, valued at $5,079,283.77. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,093 shares of company stock worth $19,608,350. Insiders own 17.90% of the company’s stock.

TREE has been the subject of several research reports. Susquehanna Bancshares upgraded Lendingtree from a “neutral” rating to a “positive” rating in a research note on Thursday, July 25th. Oppenheimer boosted their price objective on Lendingtree from $440.00 to $465.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. SunTrust Banks reiterated a “hold” rating and set a $326.00 price objective on shares of Lendingtree in a research note on Thursday, July 25th. Bank of America reiterated a “buy” rating and set a $390.00 price objective (down from $420.00) on shares of Lendingtree in a research note on Friday, July 26th. Finally, Northland Securities reiterated a “hold” rating on shares of Lendingtree in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Lendingtree presently has an average rating of “Hold” and a consensus price target of $356.00.

Shares of Lendingtree stock traded down $3.49 on Friday, hitting $320.48. 159,668 shares of the company were exchanged, compared to its average volume of 226,428. The stock has a market cap of $4.19 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 11.25 and a beta of 2.19. The stock’s 50-day moving average is $399.55. Lendingtree Inc has a 1-year low of $183.25 and a 1-year high of $434.94. The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 0.69.

Lendingtree (NASDAQ:TREE) last issued its earnings results on Thursday, July 25th. The financial services provider reported $1.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.50. The business had revenue of $278.40 million for the quarter, compared to analysts’ expectations of $267.46 million. Lendingtree had a return on equity of 12.54% and a net margin of 3.63%. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.47 EPS. As a group, sell-side analysts predict that Lendingtree Inc will post 1.22 earnings per share for the current fiscal year.

Lendingtree Company Profile

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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Institutional Ownership by Quarter for Lendingtree (NASDAQ:TREE)

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