Victory Capital Management Inc. bought a new position in shares of LendingTree, Inc. (NASDAQ:TREE – Get Rating ) during the first quarter, according to its most recent filing with the SEC. The fund purchased 4,232 shares of the financial services provider’s stock, valued at approximately $336,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in LendingTree by 17.2% in the first quarter. Envestnet Asset Management Inc. now owns 10,386 shares of the financial services provider’s stock valued at $1,243,000 after acquiring an additional 1,528 shares during the period. Mesirow Financial Investment Management Inc. purchased a new position in LendingTree during the first quarter valued at approximately $236,000. Signaturefd LLC raised its stake in LendingTree by 4,176.9% during the first quarter. Signaturefd LLC now owns 556 shares of the financial services provider’s stock valued at $67,000 after buying an additional 543 shares in the last quarter. Truist Financial Corp boosted its position in LendingTree by 29.1% in the first quarter. Truist Financial Corp now owns 6,496 shares of the financial services provider’s stock valued at $777,000 after purchasing an additional 1,463 shares in the last quarter. Finally, Bristlecone Advisors LLC boosted its stake in shares of LendingTree by 26.7% in the first quarter. Bristlecone Advisors LLC now owns 4,884 shares of the financial services provider’s stock valued at $584,000 after buying an additional 1,028 shares during the period. 86.31% of the shares are owned by hedge funds and other institutional investors.
LendingTree shares down 10.3%
TREE opened at $37.84 on Monday. The firm has a market cap of $483.07 million, a P/E ratio of 22.00 and a beta of 1.65. LendingTree, Inc. has a one year low of $37.82 and a one year high of $174.32. The company has a fifty day moving average price of $46.98 and a 200 day moving average price of $78.23. The company has a debt-to-equity ratio of 2.32, a current ratio of 4.01, and a quick ratio of 4.01.
Wall Street analysts forecast growth
Several research firms recently weighed in on TREE. Truist Financial cut their target price on LendingTree from $185.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, June 24th. Susquehanna Bancshares cut their target price on shares of LendingTree from $180.00 to $160.00 in a research report on Friday, May 6th. Needham & Company LLC decreased their target price on shares of LendingTree from $62.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, July 29th. Northland Securities downgraded shares of LendingTree from an “outperform” rating to a “market perform” rating and set a $90.00 price objective for the company. in a report from Friday, May 6. Finally, Susquehanna cut their target price on shares of LendingTree from $180.00 to $160.00 in a report on Friday, May 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Moderate Buy” and a consensus target price of $148.50, according to MarketBeat.com.
LendingTree, Inc, through its subsidiary, LT Intermediate Company, LLC, operates an online consumer platform in the United States. It operates in 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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