Lendingtree (TREE) Stock Price Up 24.2% After Earnings Beat

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Lendingtree Inc (NASDAQ:TREE) shares rose 24.2% during trading on Thursday following a better than expected earnings announcement. The company traded as high as $262.95 and last traded at $250.40. Approximately 1,246,605 shares traded hands during trading, an increase of 434% from the average daily volume of 233,431 shares. The stock had previously closed at $201.69.

The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.61. Lendingtree had a net margin of 10.82% and a return on equity of 12.09%. The business had revenue of $197.10 million for the quarter, compared to analysts’ expectations of $199.28 million. During the same period last year, the company earned $1.17 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis.

TREE has been the topic of several research analyst reports. ValuEngine cut shares of Lendingtree from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Northland Securities cut shares of Lendingtree from an “outperform” rating to a “market perform” rating in a research report on Friday, July 27th. Zacks Investment Research cut shares of Lendingtree from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. BidaskClub cut shares of Lendingtree from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Lendingtree in a research report on Friday, July 27th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. Lendingtree has a consensus rating of “Hold” and a consensus price target of $330.13.

In other Lendingtree news, Director Peter Horan sold 1,000 shares of Lendingtree stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $244.51, for a total transaction of $244,510.00. Following the transaction, the director now directly owns 24,015 shares of the company’s stock, valued at $5,871,907.65. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 20.50% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. lifted its position in Lendingtree by 84.2% during the second quarter. Macquarie Group Ltd. now owns 353,187 shares of the financial services provider’s stock valued at $75,511,000 after buying an additional 161,407 shares in the last quarter. Keybank National Association OH lifted its position in Lendingtree by 45.3% during the second quarter. Keybank National Association OH now owns 4,510 shares of the financial services provider’s stock valued at $964,000 after buying an additional 1,407 shares in the last quarter. Granahan Investment Management Inc. MA lifted its position in Lendingtree by 337.4% during the second quarter. Granahan Investment Management Inc. MA now owns 41,171 shares of the financial services provider’s stock valued at $8,802,000 after buying an additional 31,758 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its position in Lendingtree by 13.4% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 288,020 shares of the financial services provider’s stock valued at $61,578,000 after buying an additional 33,935 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in Lendingtree by 35.4% during the second quarter. Schroder Investment Management Group now owns 2,134 shares of the financial services provider’s stock valued at $448,000 after buying an additional 558 shares in the last quarter. 84.86% of the stock is currently owned by hedge funds and other institutional investors.

The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 82.91, a P/E/G ratio of 1.28 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.59 and a current ratio of 3.59.

About Lendingtree (NASDAQ:TREE)

LendingTree, Inc, through its subsidiary, LendingTree, LLC, operates an online loan marketplace for consumers seeking loans and other credit-based offerings 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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