Renaissance Technologies LLC Lowers Stake in LendingTree, Inc. (NASDAQ:TREE)

Renaissance Technologies LLC decreased its position in shares of LendingTree, Inc. (NASDAQ:TREE - Free Report) by 21.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 231,000 shares of the financial services provider's stock after selling 64,500 shares during the period. Renaissance Technologies LLC owned approximately 1.73% of LendingTree worth $8,951,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI purchased a new stake in shares of LendingTree during the 3rd quarter worth approximately $32,000. New Age Alpha Advisors LLC bought a new position in LendingTree during the fourth quarter valued at $36,000. Wealthfront Advisers LLC purchased a new position in shares of LendingTree in the 4th quarter worth $54,000. KLP Kapitalforvaltning AS bought a new position in shares of LendingTree in the 4th quarter valued at about $70,000. Finally, Asset Management One Co. Ltd. grew its position in LendingTree by 101.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,027 shares of the financial services provider's stock worth $80,000 after acquiring an additional 1,021 shares in the last quarter. Hedge funds and other institutional investors own 68.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TREE shares. Northland Capmk raised LendingTree from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 21st. Needham & Company LLC cut their price objective on shares of LendingTree from $78.00 to $65.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Northland Securities upgraded shares of LendingTree from a "market perform" rating to an "outperform" rating and set a $60.00 target price for the company in a report on Tuesday, January 21st. StockNews.com upgraded shares of LendingTree from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of LendingTree from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, LendingTree currently has a consensus rating of "Buy" and a consensus price target of $65.75.

Insider Activity

In other LendingTree news, COO Scott Peyree acquired 9,794 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $46.13 per share, with a total value of $451,797.22. Following the completion of the purchase, the chief operating officer now directly owns 97,566 shares in the company, valued at $4,500,719.58. The trade was a 11.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 23.40% of the company's stock.

LendingTree Trading Up 4.0 %

TREE traded up $1.78 on Wednesday, reaching $46.30. 38,492 shares of the company traded hands, compared to its average volume of 237,964. The company has a market cap of $620.14 million, a P/E ratio of -17.15 and a beta of 1.90. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.67. LendingTree, Inc. has a one year low of $34.55 and a one year high of $62.49. The firm has a fifty day simple moving average of $45.83 and a two-hundred day simple moving average of $45.64.

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.