Shenkman Capital Management Inc. Decreases Stake in LendingTree, Inc. (NASDAQ:TREE)

Shenkman Capital Management Inc. lowered its position in shares of LendingTree, Inc. (NASDAQ:TREE - Free Report) by 8.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 381,967 shares of the financial services provider's stock after selling 35,412 shares during the period. Shenkman Capital Management Inc. owned approximately 2.86% of LendingTree worth $14,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Intellectus Partners LLC increased its holdings in LendingTree by 58.2% in the 3rd quarter. Intellectus Partners LLC now owns 19,375 shares of the financial services provider's stock valued at $1,124,000 after purchasing an additional 7,125 shares during the last quarter. Empowered Funds LLC increased its holdings in LendingTree by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 35,218 shares of the financial services provider's stock valued at $2,044,000 after purchasing an additional 1,742 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in LendingTree by 48.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 20,519 shares of the financial services provider's stock valued at $1,191,000 after purchasing an additional 6,727 shares during the last quarter. MWA Asset Management increased its holdings in LendingTree by 30.5% in the 3rd quarter. MWA Asset Management now owns 21,728 shares of the financial services provider's stock valued at $1,261,000 after purchasing an additional 5,072 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in LendingTree by 27.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,726 shares of the financial services provider's stock valued at $971,000 after buying an additional 3,648 shares during the period. Institutional investors and hedge funds own 68.26% of the company's stock.

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Insider Activity at LendingTree

In related news, COO Scott Peyree acquired 21,045 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $41.69 per share, with a total value of $877,366.05. Following the purchase, the chief operating officer now directly owns 76,760 shares in the company, valued at $3,200,124.40. The trade was a 37.77 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 23.40% of the stock is currently owned by corporate insiders.

LendingTree Price Performance

TREE stock traded down $1.93 during trading on Tuesday, hitting $48.70. The stock had a trading volume of 179,060 shares, compared to its average volume of 231,138. The company's 50 day moving average price is $43.20 and its two-hundred day moving average price is $47.21. LendingTree, Inc. has a 1-year low of $33.58 and a 1-year high of $62.49. The stock has a market cap of $652.29 million, a price-to-earnings ratio of -18.04 and a beta of 2.14. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.92 and a current ratio of 0.92.

Analysts Set New Price Targets

TREE has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their price target on shares of LendingTree from $73.00 to $66.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Stephens reissued an "overweight" rating and issued a $69.00 price target on shares of LendingTree in a research report on Thursday, March 6th. Northland Securities raised shares of LendingTree from a "market perform" rating to an "outperform" rating and set a $60.00 price target for the company in a research report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price target on shares of LendingTree from $65.00 to $68.00 and gave the company an "overweight" rating in a research report on Thursday, March 6th. Finally, Needham & Company LLC decreased their price target on shares of LendingTree from $78.00 to $65.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, LendingTree currently has a consensus rating of "Buy" and a consensus target price of $65.75.

About LendingTree

LendingTree, Inc, through its subsidiary, 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, and home equity loans and lines of credit; and real estate brokerage services.