Sumitomo Mitsui Asset Management Company LTD Sells 43,145 Shares of Lendingtree Inc (TREE)

Sumitomo Mitsui Asset Management Company LTD decreased its stake in shares of Lendingtree Inc (NASDAQ:TREE) by 15.7% in the first quarter, Holdings Channel reports. The institutional investor owned 231,875 shares of the financial services provider’s stock after selling 43,145 shares during the quarter. Lendingtree accounts for about 1.3% of Sumitomo Mitsui Asset Management Company LTD’s holdings, making the stock its 11th biggest position. Sumitomo Mitsui Asset Management Company LTD’s holdings in Lendingtree were worth $81,517,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the business. Whittier Trust Co. raised its stake in shares of Lendingtree by 488.2% in the fourth quarter. Whittier Trust Co. now owns 200 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 166 shares during the last quarter. Toronto Dominion Bank purchased a new position in shares of Lendingtree in the fourth quarter worth $71,000. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Lendingtree in the fourth quarter worth $108,000. Strs Ohio purchased a new position in shares of Lendingtree in the first quarter worth $140,000. Finally, Advisors Asset Management Inc. raised its stake in shares of Lendingtree by 27.7% in the fourth quarter. Advisors Asset Management Inc. now owns 683 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 148 shares during the last quarter. Institutional investors and hedge funds own 86.25% of the company’s stock.

In related news, Director Gabriel Dalporto sold 637 shares of Lendingtree stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $386.34, for a total value of $246,098.58. Following the completion of the sale, the director now owns 187 shares of the company’s stock, valued at $72,245.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Neil Salvage sold 5,000 shares of Lendingtree stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $320.00, for a total value of $1,600,000.00. Following the completion of the sale, the president now directly owns 11,025 shares of the company’s stock, valued at approximately $3,528,000. The disclosure for this sale can be found here. Insiders sold 29,567 shares of company stock valued at $10,194,327 in the last ninety days. 17.90% of the stock is currently owned by corporate insiders.

Shares of TREE traded up $5.43 during trading hours on Wednesday, hitting $374.90. The stock had a trading volume of 1,414 shares, compared to its average volume of 180,096. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.63 and a quick ratio of 0.63. Lendingtree Inc has a 12 month low of $183.25 and a 12 month high of $400.95. The firm has a market capitalization of $4.71 billion, a P/E ratio of 42.14, a PEG ratio of 3.39 and a beta of 2.38.

Lendingtree (NASDAQ:TREE) last issued its quarterly earnings data on Friday, April 26th. The financial services provider reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.56. Lendingtree had a return on equity of 13.71% and a net margin of 7.62%. The company had revenue of $262.40 million during the quarter, compared to analyst estimates of $239.73 million. During the same quarter in the previous year, the company posted $1.10 earnings per share. Lendingtree’s revenue was up 45.0% compared to the same quarter last year. Analysts expect that Lendingtree Inc will post 3.85 EPS for the current fiscal year.

TREE has been the subject of several recent analyst reports. ValuEngine upgraded Lendingtree from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. BidaskClub upgraded Lendingtree from a “hold” rating to a “buy” rating in a research note on Tuesday, January 15th. Bank of America restated a “buy” rating and issued a $420.00 price target (up previously from $400.00) on shares of Lendingtree in a research note on Monday, April 29th. Compass Point restated a “buy” rating and issued a $345.00 price target (up previously from $305.00) on shares of Lendingtree in a research note on Tuesday, April 30th. Finally, Northland Securities restated a “hold” rating on shares of Lendingtree in a research note on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $340.40.

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Lendingtree Profile

LendingTree, Inc, through its subsidiary, LendingTree, LLC, operates an online loan marketplace for consumers seeking loans 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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Institutional Ownership by Quarter for Lendingtree (NASDAQ:TREE)

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