Kestra Private Wealth Services LLC Takes Position in LendingTree, Inc. $TREE

Kestra Private Wealth Services LLC bought a new stake in shares of LendingTree, Inc. (NASDAQ:TREE) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,027 shares of the financial services provider’s stock, valued at approximately $730,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in LendingTree by 1.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,899 shares of the financial services provider’s stock valued at $886,000 after acquiring an additional 301 shares in the last quarter. Financial Management Professionals Inc. bought a new position in LendingTree in the 4th quarter worth $25,000. Swiss National Bank lifted its position in shares of LendingTree by 2.2% in the 4th quarter. Swiss National Bank now owns 22,800 shares of the financial services provider’s stock worth $1,210,000 after purchasing an additional 500 shares during the period. Fifth Third Bancorp purchased a new stake in shares of LendingTree in the 4th quarter worth about $32,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of LendingTree by 5.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,398 shares of the financial services provider’s stock valued at $606,000 after purchasing an additional 612 shares in the last quarter. Hedge funds and other institutional investors own 68.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TREE. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of LendingTree in a research report on Friday, May 1st. Weiss Ratings restated a “hold (c)” rating on shares of LendingTree in a report on Wednesday, June 24th. JPMorgan Chase & Co. started coverage on LendingTree in a research report on Tuesday, April 14th. They set an “overweight” rating and a $50.00 price objective on the stock. Wall Street Zen downgraded LendingTree from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 21st. Finally, Truist Financial set a $78.00 target price on LendingTree in a research report on Friday, May 1st. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $68.60.

LendingTree Trading Up 0.4%

Shares of NASDAQ TREE opened at $45.00 on Friday. The firm’s 50 day moving average price is $39.53 and its 200-day moving average price is $45.07. LendingTree, Inc. has a 52-week low of $32.65 and a 52-week high of $77.35. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.89 and a current ratio of 1.89. The company has a market cap of $627.75 million, a PE ratio of 3.50 and a beta of 2.00.

LendingTree (NASDAQ:TREE) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $1.38 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.11). The firm had revenue of $319.07 million for the quarter, compared to the consensus estimate of $321.32 million. LendingTree had a net margin of 15.02% and a return on equity of 17.01%. LendingTree’s revenue was up 36.5% on a year-over-year basis. During the same period last year, the business earned $0.99 EPS. On average, equities research analysts expect that LendingTree, Inc. will post 3.64 EPS for the current fiscal year.

LendingTree Profile

LendingTree, Inc operates an online marketplace that connects consumers with a network of lenders and financial service providers. Through its platform, borrowers can compare loan offers for mortgages, home equity loans, personal loans, student loans, auto loans and small business financing. The company also offers tools for comparing credit cards and deposit accounts, allowing users to research rates and terms from a range of providers in one place.

Founded in 1996 by Doug Lebda, LendingTree pioneered the comparison-shopping model for consumer credit products.