United Services Automobile Association decreased its holdings in shares of Lendingtree Inc (NASDAQ:TREE) by 6.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,141 shares of the financial services provider’s stock after selling 73 shares during the quarter. United Services Automobile Association’s holdings in Lendingtree were worth $479,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in shares of Lendingtree in the second quarter valued at $79,000. Dorsey Wright & Associates acquired a new stake in shares of Lendingtree in the second quarter valued at $2,022,000. Voloridge Investment Management LLC acquired a new stake in shares of Lendingtree in the second quarter valued at $3,720,000. Peregrine Asset Advisers Inc. acquired a new stake in shares of Lendingtree in the second quarter valued at $420,000. Finally, Sompo Japan Nipponkoa Asset Management CO. LTD. purchased a new position in Lendingtree in the second quarter valued at $231,000. 78.15% of the stock is owned by institutional investors and hedge funds.
In related news, insider Sushil Sharma sold 2,128 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $317.03, for a total value of $674,639.84. Following the sale, the insider now owns 8,097 shares in the company, valued at approximately $2,566,991.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter Horan sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $312.65, for a total value of $312,650.00. Following the completion of the sale, the director now owns 20,088 shares in the company, valued at approximately $6,280,513.20. The disclosure for this sale can be found here. Insiders own 17.90% of the company’s stock.
Lendingtree (NASDAQ:TREE) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.50. The firm had revenue of $278.40 million for the quarter, compared to analysts’ expectations of $267.46 million. Lendingtree had a return on equity of 12.54% and a net margin of 3.63%. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.47 EPS. Analysts predict that Lendingtree Inc will post 1.22 EPS for the current fiscal year.
A number of research analysts recently issued reports on the company. Oppenheimer set a $415.00 target price on Lendingtree and gave the company a “buy” rating in a report on Monday, September 30th. Susquehanna Bancshares upgraded Lendingtree from a “neutral” rating to a “positive” rating in a report on Thursday, July 25th. Royal Bank of Canada lowered Lendingtree from an “outperform” rating to a “sector perform” rating and set a $415.00 target price for the company. in a report on Monday, July 1st. They noted that the move was a valuation call. ValuEngine upgraded Lendingtree from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Zacks Investment Research raised Lendingtree from a “strong sell” rating to a “hold” rating and set a $264.00 price target for the company in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $362.67.
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.
Read More: What causes a recession?
Want to see what other hedge funds are holding TREE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lendingtree Inc (NASDAQ:TREE).
Receive News & Ratings for Lendingtree Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lendingtree and related companies with MarketBeat.com's FREE daily email newsletter.