NJ State Employees Deferred Compensation Plan Sells 200 Shares of Lendingtree Inc (NASDAQ:TREE)

NJ State Employees Deferred Compensation Plan cut its holdings in shares of Lendingtree Inc (NASDAQ:TREE) by 20.0% in the 2nd quarter, Holdings Channel reports. The firm owned 800 shares of the financial services provider’s stock after selling 200 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in Lendingtree were worth $336,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its stake in Lendingtree by 117.0% during the first quarter. Victory Capital Management Inc. now owns 343,010 shares of the financial services provider’s stock worth $120,589,000 after purchasing an additional 184,965 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Lendingtree by 57.5% during the first quarter. Robeco Institutional Asset Management B.V. now owns 122,101 shares of the financial services provider’s stock worth $42,925,000 after buying an additional 44,601 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Lendingtree by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 114,460 shares of the financial services provider’s stock worth $25,131,000 after buying an additional 1,170 shares in the last quarter. Scout Investments Inc. increased its holdings in shares of Lendingtree by 2.6% during the second quarter. Scout Investments Inc. now owns 66,169 shares of the financial services provider’s stock worth $27,793,000 after buying an additional 1,695 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Lendingtree during the fourth quarter worth $12,737,000. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Several research analysts have recently issued reports on the stock. Northland Securities reiterated a “hold” rating on shares of Lendingtree in a report on Thursday, July 25th. Deutsche Bank upped their price target on shares of Lendingtree from $330.00 to $390.00 and gave the stock a “hold” rating in a report on Monday, April 29th. TheStreet downgraded shares of Lendingtree from a “b” rating to a “c+” rating in a report on Monday, July 29th. Compass Point reiterated a “buy” rating and set a $345.00 price target (up from $305.00) on shares of Lendingtree in a report on Tuesday, April 30th. Finally, BidaskClub downgraded shares of Lendingtree from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $356.00.

In related news, President Neil Salvage sold 20,405 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $435.37, for a total value of $8,883,724.85. Following the completion of the sale, the president now directly owns 14,506 shares in the company, valued at $6,315,477.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO J D. Moriarty sold 8,899 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $390.23, for a total value of $3,472,656.77. Following the completion of the sale, the chief financial officer now owns 11,735 shares of the company’s stock, valued at $4,579,349.05. The disclosure for this sale can be found here. Insiders sold 48,093 shares of company stock valued at $19,608,350 over the last 90 days. 17.90% of the stock is currently owned by company insiders.

NASDAQ TREE traded down $8.30 on Monday, reaching $312.18. The company had a trading volume of 5,468 shares, compared to its average volume of 238,777. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 11.18 and a beta of 2.19. Lendingtree Inc has a fifty-two week low of $183.25 and a fifty-two week high of $434.94. The business has a 50 day moving average price of $399.55. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 0.69.

Lendingtree (NASDAQ:TREE) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.50. The business had revenue of $278.40 million during the quarter, compared to the consensus estimate of $267.46 million. Lendingtree had a return on equity of 12.54% and a net margin of 3.63%. Lendingtree’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.47 earnings per share. On average, equities research analysts forecast that Lendingtree Inc will post 1.22 EPS for the current year.

About Lendingtree

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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