Los Angeles Capital Management LLC Sells 12,670 Shares of LendingTree, Inc. (NASDAQ:TREE)

Los Angeles Capital Management LLC lowered its position in shares of LendingTree, Inc. (NASDAQ:TREE) by 20.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,488 shares of the financial services provider’s stock after selling 12,670 shares during the quarter. Los Angeles Capital Management LLC owned about 0.38% of LendingTree worth $2,930,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Hennessy Advisors Inc. acquired a new stake in LendingTree during the second quarter worth approximately $8,380,000. Acadian Asset Management LLC boosted its stake in LendingTree by 53.9% during the first quarter. Acadian Asset Management LLC now owns 256,719 shares of the financial services provider’s stock worth $10,868,000 after acquiring an additional 89,900 shares in the last quarter. Renaissance Technologies LLC grew its holdings in LendingTree by 25.0% in the second quarter. Renaissance Technologies LLC now owns 292,900 shares of the financial services provider’s stock worth $12,182,000 after purchasing an additional 58,500 shares during the period. ClariVest Asset Management LLC bought a new stake in LendingTree in the second quarter valued at $1,360,000. Finally, Emerald Mutual Fund Advisers Trust raised its holdings in shares of LendingTree by 9.3% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 280,731 shares of the financial services provider’s stock valued at $11,676,000 after purchasing an additional 23,995 shares during the period. 68.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, General Counsel Heather Enlow-Novitsky sold 564 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $52.54, for a total value of $29,632.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 23.40% of the company’s stock.

LendingTree Stock Performance

TREE stock opened at $54.01 on Wednesday. The company has a quick ratio of 1.82, a current ratio of 0.92 and a debt-to-equity ratio of 3.67. The firm has a market cap of $721.57 million, a PE ratio of -20.00 and a beta of 2.11. The business has a 50 day moving average of $55.22 and a 200-day moving average of $49.82. LendingTree, Inc. has a 12-month low of $13.87 and a 12-month high of $62.49.

Wall Street Analyst Weigh In

TREE has been the subject of several recent research reports. Stephens boosted their price objective on LendingTree from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Northland Securities upped their price objective on shares of LendingTree from $50.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Truist Financial lifted their price objective on shares of LendingTree from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, November 1st. StockNews.com raised shares of LendingTree from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Keefe, Bruyette & Woods boosted their price objective on LendingTree from $71.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

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.