Lendingtree Inc (TREE) is Nikko Asset Management Americas Inc.’s 5th Largest Position

Nikko Asset Management Americas Inc. boosted its stake in Lendingtree Inc (NASDAQ:TREE) by 47.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 561,873 shares of the financial services provider’s stock after buying an additional 180,718 shares during the quarter. Lendingtree makes up approximately 3.6% of Nikko Asset Management Americas Inc.’s portfolio, making the stock its 5th largest holding. Nikko Asset Management Americas Inc. owned approximately 4.38% of Lendingtree worth $129,231,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TREE. Victory Capital Management Inc. lifted its stake in Lendingtree by 150.9% in the 2nd quarter. Victory Capital Management Inc. now owns 286,528 shares of the financial services provider’s stock valued at $61,259,000 after buying an additional 172,310 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Lendingtree by 84.2% in the 2nd quarter. Macquarie Group Ltd. now owns 353,187 shares of the financial services provider’s stock valued at $75,511,000 after buying an additional 161,407 shares in the last quarter. FMR LLC purchased a new position in Lendingtree in the 2nd quarter valued at about $25,742,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Lendingtree by 38.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 377,933 shares of the financial services provider’s stock valued at $80,802,000 after buying an additional 104,835 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new position in Lendingtree in the 2nd quarter valued at about $21,380,000. 84.22% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Lendingtree from a “buy” rating to a “hold” rating in a research note on Wednesday, September 26th. BidaskClub lowered shares of Lendingtree from a “hold” rating to a “sell” rating in a research note on Saturday, September 15th. ValuEngine lowered shares of Lendingtree from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Deutsche Bank decreased their price target on shares of Lendingtree from $290.00 to $270.00 and set a “hold” rating on the stock in a research note on Thursday, August 16th. Finally, Northland Securities lowered shares of Lendingtree from an “outperform” rating to a “market perform” rating in a research note on Friday, July 27th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $327.76.

TREE traded up $9.02 during trading on Monday, reaching $208.31. The company’s stock had a trading volume of 12,161 shares, compared to its average volume of 224,607. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.59 and a quick ratio of 3.59. Lendingtree Inc has a 1 year low of $192.87 and a 1 year high of $404.40. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 67.62, a price-to-earnings-growth ratio of 1.52 and a beta of 2.11.

Lendingtree (NASDAQ:TREE) last released its earnings results on Thursday, July 26th. The financial services provider reported $1.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.69. Lendingtree had a net margin of 10.82% and a return on equity of 12.09%. The business had revenue of $184.10 million for the quarter, compared to analyst estimates of $194.88 million. During the same period last year, the company posted $0.90 EPS. The business’s revenue was up 20.5% on a year-over-year basis. On average, equities analysts anticipate that Lendingtree Inc will post 3.62 earnings per share for the current fiscal year.

In other news, CEO Douglas R. Lebda sold 14,750 shares of the firm’s stock in a transaction that occurred on Tuesday, July 17th. The shares were sold at an average price of $239.37, for a total transaction of $3,530,707.50. Following the completion of the sale, the chief executive officer now owns 534,354 shares in the company, valued at approximately $127,908,316.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter Horan sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $244.51, for a total transaction of $244,510.00. Following the sale, the director now owns 24,015 shares of the company’s stock, valued at approximately $5,871,907.65. The disclosure for this sale can be found here. Insiders sold a total of 15,752 shares of company stock worth $3,775,698 over the last three months. Corporate insiders own 20.50% of the company’s stock.

Lendingtree 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: Diversification For Individual Investors

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Institutional Ownership by Quarter for Lendingtree (NASDAQ:TREE)

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