Evolve Private Wealth LLC Acquires New Holdings in LendingTree, Inc. $TREE

Evolve Private Wealth LLC bought a new stake in shares of LendingTree, Inc. (NASDAQ:TREE) in the second quarter, Holdings Channel.com reports. The firm bought 20,528 shares of the financial services provider’s stock, valued at approximately $909,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of TREE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of LendingTree by 5.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,598 shares of the financial services provider’s stock valued at $1,188,000 after purchasing an additional 1,222 shares during the period. Cetera Investment Advisers boosted its position in shares of LendingTree by 43.6% during the second quarter. Cetera Investment Advisers now owns 16,039 shares of the financial services provider’s stock worth $595,000 after buying an additional 4,871 shares during the period. Legal & General Group Plc boosted its position in shares of LendingTree by 12.7% during the second quarter. Legal & General Group Plc now owns 10,840 shares of the financial services provider’s stock worth $402,000 after buying an additional 1,223 shares during the period. Rhumbline Advisers grew its holdings in LendingTree by 12.6% in the 2nd quarter. Rhumbline Advisers now owns 16,754 shares of the financial services provider’s stock worth $621,000 after buying an additional 1,875 shares in the last quarter. Finally, American Century Companies Inc. increased its position in LendingTree by 9.3% in the 2nd quarter. American Century Companies Inc. now owns 26,010 shares of the financial services provider’s stock valued at $964,000 after acquiring an additional 2,217 shares during the period. Institutional investors own 68.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TREE shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LendingTree in a research note on Wednesday, June 24th. Northland Securities set a $60.00 price target on LendingTree in a research note on Thursday, July 30th. Keefe, Bruyette & Woods lowered their price target on LendingTree from $70.00 to $58.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Wall Street Zen cut shares of LendingTree from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Needham & Company LLC reduced their price objective on shares of LendingTree from $60.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.33.

LendingTree Price Performance

NASDAQ TREE opened at $30.82 on Monday. LendingTree, Inc. has a 12 month low of $29.77 and a 12 month high of $77.35. The firm has a market capitalization of $432.71 million, a PE ratio of 2.39 and a beta of 2.04. The company’s 50 day simple moving average is $38.60 and its 200 day simple moving average is $40.16. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.85 and a quick ratio of 1.85.

LendingTree (NASDAQ:TREE) last released its earnings results on Wednesday, July 29th. The financial services provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.73). The firm had revenue of $313.42 million during the quarter, compared to analyst estimates of $315.56 million. LendingTree had a return on equity of 14.57% and a net margin of 14.33%.The business’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter last year, the company earned $1.13 earnings per share. As a group, equities research analysts forecast that LendingTree, Inc. will post 3.49 EPS for the current fiscal year.

LendingTree Company Profile

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.