Meeder Asset Management Inc. Sells 1,004 Shares of LendingTree, Inc. (NASDAQ:TREE)

Meeder Asset Management Inc. reduced its stake in LendingTree, Inc. (NASDAQ:TREE) by 23.1% during the 1st quarter, Holdings Channel reports. The firm owned 3,347 shares of the financial services provider’s stock after selling 1,004 shares during the period. Meeder Asset Management Inc.’s holdings in LendingTree were worth $168,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Emerald Advisers LLC lifted its holdings in LendingTree by 4.8% during the first quarter. Emerald Advisers LLC now owns 378,563 shares of the financial services provider’s stock worth $19,030,000 after acquiring an additional 17,343 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in shares of LendingTree by 3.7% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 249,505 shares of the financial services provider’s stock valued at $12,543,000 after purchasing an additional 9,007 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of LendingTree by 15.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 204,896 shares of the financial services provider’s stock valued at $7,940,000 after purchasing an additional 27,887 shares during the period. Federated Hermes Inc. raised its stake in shares of LendingTree by 4.4% in the 4th quarter. Federated Hermes Inc. now owns 166,672 shares of the financial services provider’s stock valued at $6,459,000 after purchasing an additional 7,095 shares during the period. Finally, Cubist Systematic Strategies LLC raised its stake in shares of LendingTree by 127.2% in the 4th quarter. Cubist Systematic Strategies LLC now owns 166,575 shares of the financial services provider’s stock valued at $6,455,000 after purchasing an additional 93,244 shares during the period. 68.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TREE has been the topic of several recent research reports. Wall Street Zen downgraded LendingTree from a “buy” rating to a “hold” rating in a research note on Sunday, May 11th. Truist Financial dropped their price target on LendingTree from $72.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $62.00 price target on shares of LendingTree in a research note on Thursday, July 24th. Two 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. According to data from MarketBeat.com, LendingTree has an average rating of “Moderate Buy” and a consensus target price of $64.13.

LendingTree Price Performance

NASDAQ:TREE opened at $46.55 on Thursday. The company has a debt-to-equity ratio of 3.74, a quick ratio of 1.20 and a current ratio of 1.20. The stock’s 50-day simple moving average is $37.91 and its 200 day simple moving average is $42.30. The company has a market cap of $629.82 million, a P/E ratio of -11.27 and a beta of 1.61. LendingTree, Inc. has a 52-week low of $33.50 and a 52-week high of $62.49.

LendingTree (NASDAQ:TREE) last released its earnings results on Thursday, May 1st. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.25. The business had revenue of $239.70 million for the quarter, compared to the consensus estimate of $244.93 million. LendingTree had a positive return on equity of 14.76% and a negative net margin of 5.67%. The company’s quarterly revenue was up 42.8% on a year-over-year basis. As a group, sell-side analysts forecast that LendingTree, Inc. will post 0.48 EPS for the current fiscal year.

Insider Activity

In other LendingTree news, General Counsel Heather Enlow-Novitsky sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $36.24, for a total transaction of $45,300.00. Following the transaction, the general counsel owned 2,028 shares of the company’s stock, valued at $73,494.72. The trade was a 38.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 23.10% of the company’s stock.

About LendingTree

LendingTree, Inc, through its subsidiary, operates online consumer platform in the United States. It operates through three segments: Home, Consumer, and Insurance. The Home segment offers purchase mortgage, refinance mortgage, and home equity loans and lines of credit; and real estate brokerage services.