Harbour Capital Advisors LLC Takes Position in LendingTree, Inc. (NASDAQ:TREE)

by · The Cerbat Gem

Harbour Capital Advisors LLC purchased a new stake in shares of LendingTree, Inc. (NASDAQ:TREE – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,335 shares of the financial services provider’s stock, valued at approximately $244,000.

Several other large investors have also recently modified their holdings of the business. CWM LLC grew its holdings in LendingTree by 230.8% in the second quarter. CWM LLC now owns 602 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 420 shares during the period. nVerses Capital LLC lifted its position in shares of LendingTree by 200.0% during the third quarter. nVerses Capital LLC now owns 1,200 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 800 shares in the last quarter. Headlands Technologies LLC lifted its position in shares of LendingTree by 16.8% during the first quarter. Headlands Technologies LLC now owns 1,881 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 270 shares in the last quarter. Quest Partners LLC bought a new position in shares of LendingTree during the second quarter valued at about $132,000. Finally, Meeder Asset Management Inc. bought a new position in shares of LendingTree during the second quarter valued at about $139,000. Institutional investors own 68.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TREE. Needham & Company LLC raised their price target on shares of LendingTree from $56.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Truist Financial raised their price target on shares of LendingTree from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Oppenheimer boosted their target price on shares of LendingTree from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Susquehanna boosted their target price on shares of LendingTree from $42.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, StockNews.com upgraded shares of LendingTree from a “hold” rating to a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.13.

Read Our Latest Stock Report on TREE

LendingTree Stock Performance

Shares of TREE stock opened at $60.12 on Friday. The stock has a market capitalization of $802.00 million, a P/E ratio of -6.14 and a beta of 2.12. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 3.21. The firm’s 50 day moving average is $55.72 and its 200 day moving average is $48.07. LendingTree, Inc. has a 12 month low of $10.12 and a 12 month high of $62.49.

LendingTree (NASDAQ:TREE – Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.19). The business had revenue of $210.10 million for the quarter, compared to analysts’ expectations of $187.41 million. LendingTree had a negative net margin of 19.02% and a negative return on equity of 2.98%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. On average, sell-side analysts anticipate that LendingTree, Inc. will post -0.36 earnings per share for the current year.

About LendingTree

(Free Report)

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.

Further Reading

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