Royal Bank of Canada Sells 53,295 Shares of LendingTree, Inc. $TREE

Royal Bank of Canada decreased its position in shares of LendingTree, Inc. (NASDAQ:TREE) by 95.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,370 shares of the financial services provider’s stock after selling 53,295 shares during the period. Royal Bank of Canada’s holdings in LendingTree were worth $102,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp purchased a new position in shares of LendingTree in the 4th quarter valued at approximately $32,000. OP Asset Management Ltd purchased a new position in LendingTree during the first quarter valued at $34,000. New York State Teachers Retirement System purchased a new position in LendingTree during the fourth quarter valued at $54,000. McIlrath & Eck LLC bought a new stake in shares of LendingTree during the 4th quarter valued at $59,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of LendingTree by 281.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,120 shares of the financial services provider’s stock valued at $42,000 after buying an additional 826 shares in the last quarter. Institutional investors own 68.26% of the company’s stock.

LendingTree Stock Down 3.2%

NASDAQ:TREE opened at $28.04 on Tuesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market cap of $393.68 million, a P/E ratio of 2.17 and a beta of 2.04. LendingTree, Inc. has a fifty-two week low of $27.51 and a fifty-two week high of $77.35. The firm has a 50-day simple moving average of $37.60 and a two-hundred day simple moving average of $39.47.

LendingTree (NASDAQ:TREE) last issued its earnings results on Wednesday, July 29th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by ($0.73). LendingTree had a return on equity of 14.57% and a net margin of 14.33%.The firm had revenue of $313.42 million during the quarter, compared to the consensus estimate of $315.56 million. During the same quarter in the prior year, the company posted $1.13 EPS. The company’s quarterly revenue was up 25.3% on a year-over-year basis. Analysts predict that LendingTree, Inc. will post 3.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TREE shares. Truist Financial decreased their price target on shares of LendingTree from $78.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Keefe, Bruyette & Woods dropped their price objective on shares of LendingTree from $70.00 to $58.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Zacks Research cut shares of LendingTree from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Wall Street Zen raised shares of LendingTree from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Needham & Company LLC reduced their price objective on LendingTree from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, LendingTree currently has a consensus rating of “Moderate Buy” and an average price target of $61.33.

About LendingTree

LendingTree, Inc operates an online marketplace that connects consumers with a network of lenders and financial service providers. Through its platform, borrowers can compare loan offers for mortgages, home equity loans, personal loans, student loans, auto loans and small business financing. The company also offers tools for comparing credit cards and deposit accounts, allowing users to research rates and terms from a range of providers in one place.

Founded in 1996 by Doug Lebda, LendingTree pioneered the comparison-shopping model for consumer credit products.