Legal & General Group Plc Trims Stake in Lendingtree Inc (TREE)

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Legal & General Group Plc lessened its stake in Lendingtree Inc (NASDAQ:TREE) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,260 shares of the financial services provider’s stock after selling 247 shares during the period. Legal & General Group Plc owned 0.06% of Lendingtree worth $1,671,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MetLife Investment Advisors LLC grew its position in shares of Lendingtree by 18.4% in the 3rd quarter. MetLife Investment Advisors LLC now owns 10,092 shares of the financial services provider’s stock worth $2,322,000 after buying an additional 1,568 shares during the last quarter. Schroder Investment Management Group grew its position in shares of Lendingtree by 35.4% in the 2nd quarter. Schroder Investment Management Group now owns 2,134 shares of the financial services provider’s stock worth $448,000 after buying an additional 558 shares during the last quarter. Macquarie Group Ltd. grew its position in shares of Lendingtree by 13.2% in the 3rd quarter. Macquarie Group Ltd. now owns 399,730 shares of the financial services provider’s stock worth $91,978,000 after buying an additional 46,543 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in shares of Lendingtree in the 3rd quarter worth approximately $12,771,000. Finally, William Blair Investment Management LLC boosted its stake in Lendingtree by 53.3% in the 3rd quarter. William Blair Investment Management LLC now owns 461,906 shares of the financial services provider’s stock worth $106,285,000 after purchasing an additional 160,617 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Gabriel Dalporto sold 8,000 shares of the company’s stock in a transaction on Thursday, December 6th. The shares were sold at an average price of $241.24, for a total transaction of $1,929,920.00. Following the completion of the sale, the director now owns 8,806 shares of the company’s stock, valued at $2,124,359.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 20.50% of the stock is owned by corporate insiders.

A number of analysts recently commented on TREE shares. Northland Securities upgraded shares of Lendingtree from a “market perform” rating to an “outperform” rating in a research note on Wednesday, October 31st. BidaskClub raised shares of Lendingtree from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. Oppenheimer set a $300.00 target price on shares of Lendingtree and gave the company a “buy” rating in a report on Wednesday, December 5th. ValuEngine raised shares of Lendingtree from a “hold” rating to a “buy” rating in a report on Thursday, December 6th. Finally, Needham & Company LLC started coverage on shares of Lendingtree in a report on Wednesday, December 19th. They set a “buy” rating and a $300.00 target price for the company. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $317.54.

NASDAQ TREE traded up $7.69 on Friday, hitting $316.65. The company had a trading volume of 145,986 shares, compared to its average volume of 189,337. The firm has a market cap of $4.06 billion, a PE ratio of 104.85, a PEG ratio of 1.69 and a beta of 2.35. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.33 and a current ratio of 3.33. Lendingtree Inc has a 12-month low of $183.25 and a 12-month high of $391.40.

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Lendingtree Company Profile

LendingTree, Inc, through its subsidiary, LendingTree, LLC, operates an online loan marketplace for consumers seeking loans and other credit-based offerings 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.

Further Reading: How does a reverse stock split work?

Institutional Ownership by Quarter for Lendingtree (NASDAQ:TREE)

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