Lendingtree (NASDAQ:TREE) Downgraded by BidaskClub

BidaskClub cut shares of Lendingtree (NASDAQ:TREE) from a sell rating to a strong sell rating in a research note issued to investors on Thursday, BidAskClub reports.

TREE has been the topic of a number of other reports. Deutsche Bank increased their target price on shares of Lendingtree from $330.00 to $390.00 and gave the stock a hold rating in a report on Monday, April 29th. ValuEngine lowered shares of Lendingtree from a buy rating to a hold rating in a report on Monday, June 3rd. Compass Point restated a buy rating and issued a $345.00 price objective (up from $305.00) on shares of Lendingtree in a report on Tuesday, April 30th. Bank of America restated a buy rating and issued a $390.00 price objective (down from $420.00) on shares of Lendingtree in a report on Friday, July 26th. Finally, Royal Bank of Canada lowered shares of Lendingtree from an outperform rating to a sector perform rating and set a $415.00 price objective on the stock. in a report on Monday, July 1st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $358.67.

Lendingtree stock traded up $4.86 during mid-day trading on Thursday, reaching $299.08. 4,246 shares of the company’s stock were exchanged, compared to its average volume of 267,260. The company has a market cap of $3.90 billion, a P/E ratio of 33.76, a P/E/G ratio of 10.57 and a beta of 2.18. Lendingtree has a twelve month low of $183.25 and a twelve month high of $434.94. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average of $374.52 and a 200-day moving average of $361.31.

Lendingtree (NASDAQ:TREE) last released its earnings results on Thursday, July 25th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.50. The company had revenue of $278.40 million for the quarter, compared to analyst estimates of $267.46 million. Lendingtree had a net margin of 3.63% and a return on equity of 12.54%. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.47 EPS. Equities research analysts expect that Lendingtree will post 1.22 earnings per share for the current fiscal year.

In other news, Director Peter Horan sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $312.65, for a total value of $312,650.00. Following the sale, the director now directly owns 20,088 shares in the company, valued at approximately $6,280,513.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Neil Salvage sold 20,405 shares of Lendingtree stock in a transaction on Friday, July 5th. The stock was sold at an average price of $435.37, for a total transaction of $8,883,724.85. Following the sale, the president now owns 14,506 shares in the company, valued at $6,315,477.22. The disclosure for this sale can be found here. Insiders sold a total of 49,851 shares of company stock worth $20,057,230 over the last 90 days. Company insiders own 17.90% of the company’s stock.

A number of large investors have recently made changes to their positions in TREE. Victory Capital Management Inc. raised its stake in Lendingtree by 117.0% during the 1st quarter. Victory Capital Management Inc. now owns 343,010 shares of the financial services provider’s stock worth $120,589,000 after acquiring an additional 184,965 shares in the last quarter. APG Asset Management N.V. acquired a new stake in Lendingtree during the 2nd quarter worth $24,970,000. Norges Bank acquired a new stake in Lendingtree during the 4th quarter worth $12,737,000. Robeco Institutional Asset Management B.V. raised its stake in Lendingtree by 57.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 122,101 shares of the financial services provider’s stock worth $42,925,000 after acquiring an additional 44,601 shares in the last quarter. Finally, Redwood Investments LLC acquired a new stake in Lendingtree during the 1st quarter worth $14,946,000. Hedge funds and other institutional investors own 79.47% of the company’s stock.

About Lendingtree

LendingTree, Inc, through its subsidiary, LendingTree, LLC, operates an online loan marketplace for consumers seeking loans in the United States. Its mortgage products comprise purchase and refinance products. The company also provides information, tools, and access to various conditional loan offers for non-mortgage products, including auto loans, credit cards, home equity loans, personal loans, reverse mortgages, small business loans, and student loans.

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Analyst Recommendations for Lendingtree (NASDAQ:TREE)

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