Blue Grotto Capital LLC Grows Holdings in LendingTree, Inc. (NASDAQ:TREE)

Blue Grotto Capital LLC increased its stake in shares of LendingTree, Inc. (NASDAQ:TREE) by 4.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 301,784 shares of the financial services provider’s stock after purchasing an additional 11,784 shares during the period. LendingTree makes up approximately 2.1% of Blue Grotto Capital LLC’s investment portfolio, making the stock its 20th largest position. Blue Grotto Capital LLC’s holdings in LendingTree were worth $11,694,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TREE. Thrivent Financial for Lutherans lifted its position in shares of LendingTree by 48.8% during the third quarter. Thrivent Financial for Lutherans now owns 20,519 shares of the financial services provider’s stock worth $1,191,000 after purchasing an additional 6,727 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in LendingTree by 27.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,726 shares of the financial services provider’s stock valued at $971,000 after buying an additional 3,648 shares during the period. Intech Investment Management LLC purchased a new position in LendingTree in the 3rd quarter valued at approximately $247,000. Charles Schwab Investment Management Inc. grew its stake in shares of LendingTree by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 88,206 shares of the financial services provider’s stock worth $5,119,000 after acquiring an additional 2,602 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of LendingTree during the third quarter worth $223,000. Institutional investors and hedge funds own 68.26% of the company’s stock.

Insider Activity

In other news, COO Scott Peyree purchased 21,045 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $41.69 per share, with a total value of $877,366.05. Following the completion of the acquisition, the chief operating officer now directly owns 76,760 shares of the company’s stock, valued at approximately $3,200,124.40. This trade represents a 37.77 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 23.40% of the company’s stock.

LendingTree Stock Performance

NASDAQ:TREE opened at $54.95 on Wednesday. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $736.00 million, a price-to-earnings ratio of -20.35 and a beta of 2.14. The firm’s fifty day moving average price is $44.90 and its 200 day moving average price is $47.08. LendingTree, Inc. has a 1-year low of $33.58 and a 1-year high of $62.49.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TREE. Northland Capmk upgraded LendingTree from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 21st. Northland Securities raised shares of LendingTree from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a report on Tuesday, January 21st. Stephens reiterated an “overweight” rating and set a $69.00 price target on shares of LendingTree in a report on Thursday, March 6th. JPMorgan Chase & Co. increased their price objective on shares of LendingTree from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of LendingTree from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, LendingTree has an average rating of “Buy” and an average target price of $65.75.

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.