Thrivent Financial for Lutherans reduced its position in LendingTree, Inc. (NASDAQ:TREE - Free Report) by 28.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,621 shares of the financial services provider's stock after selling 5,898 shares during the period. Thrivent Financial for Lutherans owned approximately 0.11% of LendingTree worth $567,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the business. Intech Investment Management LLC purchased a new position in LendingTree in the third quarter valued at about $247,000. Charles Schwab Investment Management Inc. raised its position in shares of LendingTree by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 88,206 shares of the financial services provider's stock valued at $5,119,000 after purchasing an additional 2,602 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of LendingTree during the 3rd quarter valued at approximately $223,000. BNP Paribas Financial Markets grew its position in shares of LendingTree by 113.7% during the third quarter. BNP Paribas Financial Markets now owns 15,366 shares of the financial services provider's stock worth $892,000 after buying an additional 8,175 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of LendingTree in the third quarter worth $516,000. 68.26% of the stock is currently owned by institutional investors and hedge funds.
LendingTree Stock Performance
Shares of NASDAQ TREE traded down $2.26 during mid-day trading on Tuesday, hitting $41.73. The company had a trading volume of 279,618 shares, compared to its average volume of 236,129. The stock has a market cap of $558.93 million, a price-to-earnings ratio of -15.46 and a beta of 1.90. The firm's 50 day simple moving average is $46.15 and its two-hundred day simple moving average is $46.55. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.92 and a quick ratio of 0.92. LendingTree, Inc. has a 12 month low of $33.58 and a 12 month high of $62.49.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. StockNews.com lowered shares of LendingTree from a "strong-buy" rating to a "buy" rating in a report on Tuesday. Northland Securities upgraded LendingTree from a "market perform" rating to an "outperform" rating and set a $60.00 price target for the company in a research note on Tuesday, January 21st. Stephens reaffirmed an "overweight" rating and set a $69.00 target price on shares of LendingTree in a report on Thursday, March 6th. Northland Capmk upgraded LendingTree from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. boosted their price target on LendingTree from $65.00 to $68.00 and gave the company an "overweight" rating in a report on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, LendingTree has an average rating of "Buy" and a consensus target price of $65.75.
Read Our Latest Stock Analysis on TREE
Insider Buying and Selling at LendingTree
In other news, COO Scott Peyree bought 9,794 shares of LendingTree stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $46.13 per share, with a total value of $451,797.22. Following the purchase, the chief operating officer now directly owns 97,566 shares of the company's stock, valued at approximately $4,500,719.58. This trade represents a 11.16 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 23.40% of the stock is currently owned by company insiders.
LendingTree Profile
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Free Report)
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.
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