Verition Fund Management LLC Acquires Shares of 4,851 LendingTree, Inc. (NASDAQ:TREE)

Verition Fund Management LLC bought a new position in LendingTree, Inc. (NASDAQ:TREE) in the 3rd quarter, HoldingsChannel reports. The fund bought 4,851 shares of the financial services provider’s stock, valued at approximately $282,000.

A number of other institutional investors have also made changes to their positions in TREE. Emerald Advisers LLC boosted its holdings in LendingTree by 3.0% in the third quarter. Emerald Advisers LLC now owns 356,389 shares of the financial services provider’s stock worth $20,681,000 after purchasing an additional 10,497 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of LendingTree by 25.0% in the 2nd quarter. Renaissance Technologies LLC now owns 292,900 shares of the financial services provider’s stock valued at $12,182,000 after buying an additional 58,500 shares during the period. Emerald Mutual Fund Advisers Trust grew its position in shares of LendingTree by 9.3% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 280,731 shares of the financial services provider’s stock valued at $11,676,000 after buying an additional 23,995 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in LendingTree during the second quarter worth about $8,380,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in LendingTree by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 88,206 shares of the financial services provider’s stock worth $5,119,000 after acquiring an additional 2,602 shares during the last quarter. 68.26% of the stock is currently owned by institutional investors.

Insider Transactions at LendingTree

In other news, CEO Douglas R. Lebda bought 13,000 shares of the business’s stock in a transaction on Friday, December 6th. The stock was purchased at an average cost of $39.72 per share, for a total transaction of $516,360.00. Following the completion of the transaction, the chief executive officer now directly owns 121,599 shares of the company’s stock, valued at approximately $4,829,912.28. This trade represents a 11.97 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Scott V. Totman purchased 3,750 shares of the stock in a transaction dated Friday, December 6th. The shares were purchased at an average price of $38.59 per share, for a total transaction of $144,712.50. Following the completion of the transaction, the chief technology officer now owns 18,192 shares in the company, valued at $702,029.28. This trade represents a 25.97 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 23.40% of the company’s stock.

LendingTree Stock Performance

Shares of TREE opened at $39.80 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.67. The firm has a 50-day moving average price of $49.05 and a 200 day moving average price of $49.33. LendingTree, Inc. has a 52-week low of $24.55 and a 52-week high of $62.49.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TREE. Susquehanna increased their price target on LendingTree from $50.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. StockNews.com lowered LendingTree from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Truist Financial boosted their price target on shares of LendingTree from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, November 1st. Oppenheimer upped their price target on shares of LendingTree from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, LendingTree presently has an average rating of “Moderate Buy” and an average price target of $64.00.

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.