Wolverine Asset Management LLC Acquires Shares of 1,700 LendingTree, Inc. (NASDAQ:TREE)

Wolverine Asset Management LLC acquired a new stake in shares of LendingTree, Inc. (NASDAQ:TREEGet Rating) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,700 shares of the financial services provider’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New York State Teachers Retirement System increased its stake in shares of LendingTree by 24.6% in the fourth quarter. New York State Teachers Retirement System now owns 14,108 shares of the financial services provider’s stock valued at $1,730,000 after buying an additional 2,783 shares in the last quarter. Yousif Capital Management LLC acquired a new stake in shares of LendingTree in the fourth quarter valued at $1,278,000. Assenagon Asset Management S.A. increased its stake in shares of LendingTree by 44.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 162,152 shares of the financial services provider’s stock valued at $19,880,000 after buying an additional 50,248 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of LendingTree by 15.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,410 shares of the financial services provider’s stock valued at $541,000 after buying an additional 578 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its stake in shares of LendingTree by 61.1% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,931 shares of the financial services provider’s stock valued at $362,000 after buying an additional 1,112 shares in the last quarter. 86.31% of the stock is owned by institutional investors.

Insider Activity

In other LendingTree news, Director Mark A. Ernst acquired 10,000 shares of the business’s stock in a transaction dated Monday, May 9th. The shares were acquired at an average price of $65.67 per share, for a total transaction of $656,700.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $656,700. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.90% of the stock is currently owned by company insiders.

LendingTree Price Performance

LendingTree stock opened at $43.04 on Wednesday. The firm has a market capitalization of $549.62 million, a P/E ratio of 25.02 and a beta of 1.65. LendingTree, Inc. has a 1 year low of $40.82 and a 1 year high of $199.21. The business has a 50-day moving average of $51.28 and a 200-day moving average of $85.70. The company has a current ratio of 4.01, a quick ratio of 1.18 and a debt-to-equity ratio of 2.32.

LendingTree (NASDAQ:TREEGet Rating) last posted its earnings results on Thursday, May 5th. The financial services provider reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.02) by $0.40. The company had revenue of $283.18 million during the quarter, compared to analyst estimates of $283.65 million. LendingTree had a negative return on equity of 9.08% and a net margin of 2.23%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 EPS. On average, equities analysts anticipate that LendingTree, Inc. will post -3.79 EPS for the current year.

Analyst Ratings Changes

TREE has been the subject of a number of research reports. Oppenheimer lowered their target price on LendingTree from $120.00 to $55.00 and set a “maintains” rating for the company in a research note on Friday, July 29th. Susquehanna Bancshares lowered their price objective on LendingTree from $160.00 to $59.00 and set a “maintains” rating for the company in a research report on Friday, July 29th. William Blair reiterated an “outperform” rating on shares of LendingTree in a research report on Friday, June 3rd. Truist Financial lowered their price objective on LendingTree from $130.00 to $80.00 and set a “maintains” rating for the company in a research report on Friday, July 29th. Finally, Needham & Company LLC lowered their price objective on LendingTree from $62.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, July 29th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, LendingTree presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.13.

LendingTree Company Profile

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LendingTree, Inc, through its subsidiary, LT Intermediate Company, LLC, 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, reverse mortgage, and home equity loans; lines of credit; and real estate brokerage services.

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Institutional Ownership by Quarter for LendingTree (NASDAQ:TREE)

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