Granahan Investment Management Inc. MA Decreases Stake in LendingTree, Inc. (TREE)

Granahan Investment Management Inc. MA cut its position in shares of LendingTree, Inc. (NASDAQ:TREE) by 69.7% during the first quarter, Holdings Channel reports. The firm owned 168,339 shares of the financial services provider’s stock after selling 387,396 shares during the period. LendingTree accounts for approximately 2.1% of Granahan Investment Management Inc. MA’s portfolio, making the stock its 5th largest position. Granahan Investment Management Inc. MA’s holdings in LendingTree were worth $21,101,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TREE. Macquarie Group Ltd. increased its stake in LendingTree by 67.4% in the fourth quarter. Macquarie Group Ltd. now owns 275,579 shares of the financial services provider’s stock worth $27,930,000 after buying an additional 110,986 shares in the last quarter. Teachers Advisors LLC increased its stake in LendingTree by 10.9% in the fourth quarter. Teachers Advisors LLC now owns 10,588 shares of the financial services provider’s stock worth $1,073,000 after buying an additional 1,040 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in LendingTree by 4.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,890 shares of the financial services provider’s stock worth $394,000 after buying an additional 150 shares in the last quarter. Denver Investment Advisors LLC acquired a new stake in LendingTree during the fourth quarter worth about $567,000. Finally, Guggenheim Capital LLC increased its stake in LendingTree by 4.8% in the fourth quarter. Guggenheim Capital LLC now owns 30,688 shares of the financial services provider’s stock worth $3,111,000 after buying an additional 1,399 shares in the last quarter. Institutional investors and hedge funds own 76.75% of the company’s stock.

Institutional Ownership by Quarter for LendingTree (NASDAQ:TREE)

LendingTree, Inc. (NASDAQ:TREE) traded up 1.98% during midday trading on Friday, hitting $169.85. 359,187 shares of the stock traded hands. LendingTree, Inc. has a 52 week low of $71.34 and a 52 week high of $179.95. The stock’s 50-day moving average price is $155.86 and its 200 day moving average price is $123.80. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 76.79 and a beta of 1.65.

LendingTree (NASDAQ:TREE) last issued its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.27. The business had revenue of $132.50 million for the quarter, compared to the consensus estimate of $124.99 million. LendingTree had a net margin of 6.79% and a return on equity of 18.12%. The company’s quarterly revenue was up 39.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 EPS. On average, equities research analysts predict that LendingTree, Inc. will post $3.82 EPS for the current year.

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A number of analysts have recently weighed in on TREE shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price target (up previously from $120.00) on shares of LendingTree in a report on Friday, February 24th. Needham & Company LLC upped their price target on shares of LendingTree from $140.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Mizuho upped their price target on shares of LendingTree from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, February 24th. Zacks Investment Research downgraded shares of LendingTree from a “hold” rating to a “sell” rating in a report on Thursday, March 2nd. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $140.00 price target (up previously from $129.00) on shares of LendingTree in a report on Monday, February 27th. One equities research analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. LendingTree currently has an average rating of “Buy” and an average price target of $151.08.

In related news, Director Interactive Corp Liberty bought 450,000 shares of the stock in a transaction on Tuesday, June 6th. The shares were acquired at an average price of $170.70 per share, for a total transaction of $76,815,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas R. Lebda sold 8,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $164.60, for a total transaction of $1,316,800.00. Following the transaction, the chief executive officer now owns 517,418 shares in the company, valued at approximately $85,167,002.80. The disclosure for this sale can be found here. Insiders sold a total of 179,750 shares of company stock worth $25,986,301 over the last ninety days. Insiders own 22.00% of the company’s stock.

LendingTree Company Profile

LendingTree, Inc (LendingTree) is engaged in operating an online loan marketplace for consumers seeking loans and other credit-based offerings. The Company’s online marketplace provides consumers with access to product offerings from various lenders, which it refers to as Network Lenders, including mortgage loans, home equity loans and lines of credit, reverse mortgage loans, auto loans, credit cards, personal loans, student loans, small business loans and other related offerings.

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).

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