LendingTree’s (TREE) Outperform Rating Reiterated at Citigroup Inc.

Citigroup Inc. reaffirmed their outperform rating on shares of LendingTree, Inc. (NASDAQ:TREE) in a research report report published on Friday morning, The Fly reports. Citigroup Inc. currently has a $290.00 price target on the financial services provider’s stock.

A number of other analysts have also recently commented on the company. Bank of America Corporation upped their price target on LendingTree from $250.00 to $285.00 and gave the company a buy rating in a research note on Tuesday, October 10th. BWS Financial cut LendingTree from a buy rating to a sell rating and set a $194.00 target price for the company. in a research note on Thursday, October 12th. Stephens increased their target price on LendingTree from $250.00 to $300.00 and gave the stock an overweight rating in a research note on Thursday. Zacks Investment Research cut LendingTree from a hold rating to a sell rating in a research note on Thursday, August 3rd. Finally, Needham & Company LLC reissued a buy rating and set a $250.00 target price (up from $200.00) on shares of LendingTree in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $241.55.

Shares of LendingTree (NASDAQ:TREE) traded down 0.36% on Friday, hitting $265.45. 133,538 shares of the company’s stock traded hands. LendingTree has a 1-year low of $76.36 and a 1-year high of $270.00. The firm’s 50-day moving average price is $241.96 and its 200 day moving average price is $194.76. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 123.93 and a beta of 1.56.

LendingTree (NASDAQ:TREE) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.20. The company had revenue of $171.50 million during the quarter, compared to analysts’ expectations of $157.97 million. LendingTree had a return on equity of 16.52% and a net margin of 5.49%. LendingTree’s revenue was up 81.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 EPS. On average, equities research analysts expect that LendingTree will post $3.71 earnings per share for the current year.

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In other LendingTree news, President Neil Salvage sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $267.08, for a total transaction of $400,620.00. Following the completion of the transaction, the president now owns 12,907 shares of the company’s stock, valued at approximately $3,447,201.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Peter Horan sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $226.90, for a total value of $453,800.00. Following the transaction, the director now directly owns 31,624 shares of the company’s stock, valued at approximately $7,175,485.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,350 shares of company stock valued at $4,891,593. Insiders own 21.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new position in LendingTree during the 1st quarter worth approximately $2,068,000. First Trust Advisors LP boosted its position in LendingTree by 64.8% during the 2nd quarter. First Trust Advisors LP now owns 18,394 shares of the financial services provider’s stock worth $3,167,000 after acquiring an additional 7,232 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in LendingTree by 5.6% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 1,710 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 90 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in LendingTree by 4.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 10,572 shares of the financial services provider’s stock worth $1,819,000 after acquiring an additional 412 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its position in LendingTree by 2,685.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 780 shares of the financial services provider’s stock worth $135,000 after acquiring an additional 752 shares during the last quarter. 72.00% of the stock is owned by hedge funds and other institutional investors.

About LendingTree

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.

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