Rhumbline Advisers lifted its holdings in LendingTree, Inc. (NASDAQ:TREE) by 3.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,856 shares of the financial services provider’s stock after buying an additional 880 shares during the quarter. Rhumbline Advisers’ holdings in LendingTree were worth $6,114,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in TREE. Janus Henderson Group PLC raised its holdings in shares of LendingTree by 38.3% in the first quarter. Janus Henderson Group PLC now owns 510,851 shares of the financial services provider’s stock valued at $108,811,000 after buying an additional 141,403 shares during the last quarter. TimesSquare Capital Management LLC increased its position in LendingTree by 22.4% in the first quarter. TimesSquare Capital Management LLC now owns 407,774 shares of the financial services provider’s stock worth $86,856,000 after purchasing an additional 74,505 shares during the period. Baillie Gifford & Co. increased its position in LendingTree by 5.2% in the first quarter. Baillie Gifford & Co. now owns 1,418,251 shares of the financial services provider’s stock worth $302,088,000 after purchasing an additional 69,557 shares during the period. MUFG Securities EMEA plc acquired a new stake in LendingTree in the second quarter worth about $8,751,000. Finally, Holocene Advisors LP increased its position in LendingTree by 466.8% in the first quarter. Holocene Advisors LP now owns 34,736 shares of the financial services provider’s stock worth $7,399,000 after purchasing an additional 28,608 shares during the period. 94.29% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently commented on TREE shares. Northland Securities upgraded LendingTree from a “market perform” rating to an “outperform” rating and set a $225.00 price objective for the company in a research report on Thursday, May 20th. Oppenheimer lowered their price objective on LendingTree from $325.00 to $275.00 and set an “outperform” rating for the company in a research report on Friday, July 16th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, LendingTree has an average rating of “Buy” and a consensus target price of $319.29.
LendingTree (NASDAQ:TREE) last posted its earnings results on Thursday, July 29th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.89) by $1.65. The company had revenue of $270.01 million during the quarter, compared to analyst estimates of $271.01 million. LendingTree had a negative return on equity of 3.64% and a negative net margin of 0.74%. Research analysts anticipate that LendingTree, Inc. will post -2.16 EPS for the current fiscal year.
In other news, insider Neil Salvage sold 2,000 shares of LendingTree stock in a transaction dated Monday, August 9th. The stock was sold at an average price of $185.47, for a total transaction of $370,940.00. Following the transaction, the insider now owns 3,475 shares in the company, valued at approximately $644,508.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robin Henderson sold 735 shares of LendingTree stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $170.00, for a total value of $124,950.00. Following the transaction, the director now owns 469 shares in the company, valued at approximately $79,730. The disclosure for this sale can be found here. 16.70% of the stock is currently owned by insiders.
LendingTree, Inc engages in the operation of online loan marketplace for consumers seeking loans and other credit-based offerings. It operates through the following segments: Home, Consumer and Insurance. The Home segment consists of purchase mortgage, refinance mortgage, home equity loans and lines of credit and reverse mortgage loans and real estate.
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