Paloma Partners Management Co Acquires Shares of 21,899 Lendingtree Inc (NASDAQ:TREE)

Paloma Partners Management Co acquired a new stake in shares of Lendingtree Inc (NASDAQ:TREE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,899 shares of the financial services provider’s stock, valued at approximately $9,198,000. Paloma Partners Management Co owned approximately 0.17% of Lendingtree as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC raised its position in Lendingtree by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 114,460 shares of the financial services provider’s stock worth $25,131,000 after purchasing an additional 1,170 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Lendingtree by 0.8% during the 1st quarter. Rhumbline Advisers now owns 23,698 shares of the financial services provider’s stock worth $8,331,000 after buying an additional 185 shares during the period. Texas Permanent School Fund raised its stake in shares of Lendingtree by 3.8% during the 1st quarter. Texas Permanent School Fund now owns 5,053 shares of the financial services provider’s stock worth $1,776,000 after buying an additional 184 shares during the period. Mason Street Advisors LLC raised its stake in shares of Lendingtree by 1.5% during the 1st quarter. Mason Street Advisors LLC now owns 3,957 shares of the financial services provider’s stock worth $1,391,000 after buying an additional 60 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of Lendingtree by 12.1% during the 1st quarter. New York State Common Retirement Fund now owns 18,220 shares of the financial services provider’s stock worth $6,405,000 after buying an additional 1,973 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Several research analysts have recently weighed in on TREE shares. SunTrust Banks set a $350.00 target price on Lendingtree and gave the stock a “hold” rating in a research note on Monday, August 12th. UBS Group raised Lendingtree from a “neutral” rating to a “buy” rating and upped their target price for the stock from $355.00 to $395.00 in a research note on Tuesday, September 3rd. Oppenheimer upped their target price on Lendingtree from $440.00 to $465.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. ValuEngine downgraded Lendingtree from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Finally, BidaskClub raised Lendingtree from a “strong sell” rating to a “sell” rating in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $367.00.

In related news, President Neil Salvage sold 20,405 shares of the stock in a transaction dated 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 transaction, the president now owns 14,506 shares of the company’s stock, valued at $6,315,477.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sushil Sharma sold 2,128 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $317.03, for a total value of $674,639.84. Following the completion of the transaction, the insider now directly owns 8,097 shares of the company’s stock, valued at approximately $2,566,991.91. The disclosure for this sale can be found here. Insiders sold 27,016 shares of company stock valued at $11,351,290 in the last three months. 17.90% of the stock is currently owned by company insiders.

NASDAQ TREE traded up $2.59 during mid-day trading on Thursday, hitting $325.63. The stock had a trading volume of 6,790 shares, compared to its average volume of 159,253. The firm’s 50 day moving average is $309.22 and its 200 day moving average is $359.77. Lendingtree Inc has a twelve month low of $183.25 and a twelve month high of $434.94. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 11.47 and a beta of 2.14.

Lendingtree (NASDAQ:TREE) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.50. The firm 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%. The firm’s revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.47 EPS. As a group, equities research analysts expect that Lendingtree Inc will post 1.22 earnings per share for the current year.

Lendingtree Profile

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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