Retirement Systems of Alabama Sells 583 Shares of Lendingtree Inc (TREE)

Retirement Systems of Alabama reduced its stake in shares of Lendingtree Inc (NASDAQ:TREE) by 5.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,607 shares of the financial services provider’s stock after selling 583 shares during the period. Retirement Systems of Alabama’s holdings in Lendingtree were worth $2,211,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TREE. Macquarie Group Ltd. lifted its holdings in Lendingtree by 84.2% in the second quarter. Macquarie Group Ltd. now owns 353,187 shares of the financial services provider’s stock valued at $75,511,000 after acquiring an additional 161,407 shares during the last quarter. Keybank National Association OH lifted its holdings in Lendingtree by 45.3% in the second quarter. Keybank National Association OH now owns 4,510 shares of the financial services provider’s stock valued at $964,000 after acquiring an additional 1,407 shares during the last quarter. Granahan Investment Management Inc. MA lifted its holdings in Lendingtree by 337.4% in the second quarter. Granahan Investment Management Inc. MA now owns 41,171 shares of the financial services provider’s stock valued at $8,802,000 after acquiring an additional 31,758 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its holdings in Lendingtree by 13.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 288,020 shares of the financial services provider’s stock valued at $61,578,000 after acquiring an additional 33,935 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Lendingtree by 35.4% in the second quarter. Schroder Investment Management Group now owns 2,134 shares of the financial services provider’s stock valued at $448,000 after acquiring an additional 558 shares during the last quarter. Institutional investors and hedge funds own 84.72% of the company’s stock.

In other Lendingtree news, Director Steven Ozonian sold 975 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $247.83, for a total transaction of $241,634.25. Following the transaction, the director now directly owns 7,344 shares in the company, valued at $1,820,063.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.50% of the stock is owned by corporate insiders.

NASDAQ:TREE opened at $249.03 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.59 and a current ratio of 3.33. Lendingtree Inc has a 52 week low of $183.25 and a 52 week high of $404.40. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 82.46, a PEG ratio of 1.96 and a beta of 2.10.

Lendingtree (NASDAQ:TREE) last released its quarterly earnings results on Thursday, November 1st. The financial services provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.61. Lendingtree had a return on equity of 12.86% and a net margin of 12.73%. The company had revenue of $197.10 million for the quarter, compared to analysts’ expectations of $199.28 million. During the same period in the prior year, the firm earned $1.17 earnings per share. The firm’s revenue was up 14.9% compared to the same quarter last year. As a group, analysts anticipate that Lendingtree Inc will post 3.68 EPS for the current fiscal year.

A number of research analysts recently commented on TREE shares. Zacks Investment Research upgraded Lendingtree from a “hold” rating to a “buy” rating and set a $253.00 price objective on the stock in a report on Tuesday, September 25th. BidaskClub upgraded Lendingtree from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Deutsche Bank decreased their price objective on Lendingtree from $290.00 to $270.00 and set a “hold” rating on the stock in a report on Thursday, August 16th. Northland Securities cut Lendingtree from an “outperform” rating to a “market perform” rating in a report on Friday, July 27th. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Lendingtree in a report on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $330.13.

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About Lendingtree

LendingTree, Inc engages in the operation of online loan marketplace for consumers seeking loans and other credit-based offerings. It provides mortgage loans, home equity, reverse mortgage, auto loans, credit cards, personal loans, student loans, and small business loans. The company was founded Douglas Lebda in April 2008 and is headquartered in Charlotte, NC.

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Institutional Ownership by Quarter for Lendingtree (NASDAQ:TREE)

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