Quest Partners LLC cut its stake in LendingTree, Inc. (NASDAQ:TREE – Free Report) by 40.5% in the third quarter, Holdings Channel.com reports. The firm owned 1,889 shares of the financial services provider’s stock after selling 1,284 shares during the quarter. Quest Partners LLC’s holdings in LendingTree were worth $110,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio grew its position in shares of LendingTree by 697.5% in the first quarter. Public Employees Retirement System of Ohio now owns 12,633 shares of the financial services provider’s stock valued at $535,000 after purchasing an additional 11,049 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in shares of LendingTree in the third quarter valued at approximately $3,651,000. Emerald Mutual Fund Advisers Trust grew its position in shares of LendingTree by 9.3% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 280,731 shares of the financial services provider’s stock valued at $11,676,000 after purchasing an additional 23,995 shares in the last quarter. GSA Capital Partners LLP acquired a new position in LendingTree in the third quarter valued at approximately $1,612,000. Finally, ClariVest Asset Management LLC acquired a new position in LendingTree in the second quarter valued at approximately $1,360,000. 68.26% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently commented on TREE. Needham & Company LLC upped their price objective on LendingTree from $67.00 to $78.00 and gave the company a “buy” rating in a report on Friday, November 1st. Truist Financial upped their price objective on LendingTree from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, November 1st. Susquehanna upped their price objective on LendingTree from $50.00 to $58.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Oppenheimer upped their price objective on LendingTree from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Keefe, Bruyette & Woods upped their price objective on LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, LendingTree currently has a consensus rating of “Moderate Buy” and an average price target of $64.00.
LendingTree Stock Up 0.8 %
NASDAQ:TREE opened at $44.21 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.67. The stock’s fifty day moving average is $52.34 and its two-hundred day moving average is $49.65. LendingTree, Inc. has a 52 week low of $17.21 and a 52 week high of $62.49. The stock has a market capitalization of $590.65 million, a price-to-earnings ratio of -16.37 and a beta of 2.11.
Insiders Place Their Bets
In other LendingTree news, General Counsel Heather Enlow-Novitsky sold 564 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $52.54, for a total transaction of $29,632.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 23.40% of the stock is owned by insiders.
About LendingTree
LendingTree, Inc, through its subsidiary, operates online consumer platform in the United States. It operates through three segments: Home, Consumer, and Insurance. The Home segment offers purchase mortgage, refinance mortgage, and home equity loans and lines of credit; and real estate brokerage services.
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