LendingTree (NASDAQ:TREE) Shares Gap Down After Analyst Downgrade

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LendingTree (NASDAQ:TREE) Shares Gap Down After Analyst Downgrade


LendingTree, Inc. (NASDAQ:TREE – Get Rating) gapped down before the market opened on Friday after Needham & Company LLC lowered their price target on the stock from $105.00 to $62.00. The stock had previously closed at $54.87, but opened at $50.70. Needham & Company LLC currently has a buy rating on the stock. LendingTree shares last traded at $50.79, with a volume of 6,219 shares.

A number of other analysts also recently weighed in on TREE. William Blair reissued an “outperform” rating on shares of LendingTree in a report on Friday, June 3rd. Northland Securities downgraded shares of LendingTree from an “outperform” rating to a “market perform” rating and set a $90.00 price target for the company. in a report on Friday, May 6th. Susquehanna Bancshares reduced their price target on shares of LendingTree from $180.00 to $160.00 in a report on Friday, May 6th. Truist Financial reduced their price target on shares of LendingTree from $185.00 to $130.00 and set a “buy” rating for the company in a report on Friday. Finally, Oppenheimer reissued an “outperform” rating and issued a $190.00 price target on shares of LendingTree in a report on Monday, March 28th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, LendingTree has a consensus rating of “Moderate Buy” and an average price target of $149.50.

In other LendingTree news, Director Mark A. Ernst acquired 10,000 shares of LendingTree stock in a transaction dated Monday, May 9th. The stock was bought at an average cost of $65.67 per share, with a total value of $656,700.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $656,700. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.70% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in shares of LendingTree by 4,176.9% during the 1st quarter. Signaturefd LLC now owns 556 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 543 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of LendingTree during the 1st quarter worth about $99,000. Wolverine Asset Management LLC acquired a new stake in shares of LendingTree during the 1st quarter worth about $203,000. AlphaCrest Capital Management LLC increased its position in shares of LendingTree by 8.5% during the 4th quarter. AlphaCrest Capital Management LLC now owns 1,839 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 144 shares in the last quarter. Finally, Inspire Investing LLC acquired a new stake in shares of LendingTree during the 1st quarter worth about $235,000. 86.31% of the stock is owned by institutional investors.

The firm has a market cap of $645.32 million, a price-to-earnings ratio of 17.86 and a beta of 1.62. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.18 and a current ratio of 1.18. The business’s 50-day moving average is $68.69 and its 200-day moving average is $100.95.

LendingTree (NASDAQ:TREE – Get Rating) last announced its earnings results on Thursday, May 5th. The financial services provider reported ($0.62) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.40. The business had revenue of $283.18 million during the quarter, compared to analysts’ expectations of $283.65 million. LendingTree had a net margin of 3.54% and a negative return on equity of 4.84%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $0.18 EPS. Equities research analysts expect that LendingTree, Inc. will post -2.07 EPS for the current fiscal year.

LendingTree Company Profile (NASDAQ:TREE)

LendingTree, Inc, through its subsidiary, LT Intermediate Company, LLC, 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, reverse mortgage, and home equity loans; lines of credit; and real estate brokerage services.

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2022-06-25 05:17:59

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