Wed Sep 25 07:47:15 UTC 2024: ## LendingTree Sees Mixed Investor Activity: Rhumbline Advisers Cuts Stake, While Others Increase Holdings

**New York, NY (MarketBeat News) -** LendingTree, Inc. (NASDAQ: TREE) experienced a mixed bag of investor activity in the second quarter, according to recent SEC filings. While Rhumbline Advisers decreased its stake in the company by 10.2%, several other institutional investors increased their holdings.

Rhumbline Advisers, a prominent institutional investor, reduced its ownership in LendingTree by 1,689 shares, bringing its total holdings to 14,810 shares valued at $616,000. Despite the decrease, Rhumbline still owns approximately 0.11% of the company’s stock.

However, other institutional investors took a more bullish stance. Versor Investments LP initiated a new position in LendingTree, purchasing shares worth approximately $204,000. Bank of New York Mellon Corp boosted its stake by 7.6%, adding 2,830 shares to its portfolio, bringing its total holdings to 40,268 shares worth $1,675,000.

Hennessy Advisors Inc. also made a significant investment, acquiring a new position in LendingTree valued at about $8,380,000. Additionally, SG Americas Securities LLC expanded its stake by 297.2%, adding 8,827 shares and increasing its holdings to 11,797 shares worth $491,000. CWM LLC rounded out the list of buyers, increasing its position by 230.8% and acquiring 420 shares for a total of 602 shares valued at $25,000.

Overall, hedge funds and other institutional investors currently own 68.26% of LendingTree’s stock.

LendingTree’s stock opened at $57.98 on Wednesday. The company has a market cap of $766.79 million, a PE ratio of -5.59, and a beta of 2.12.

Analysts remain optimistic about LendingTree’s future prospects. Truist Financial, StockNews.com, Northland Securities, Susquehanna, and Stephens have all recently raised their price targets on the stock. Currently, two investment analysts rate the stock with a “hold” rating, while seven have issued a “buy” rating. MarketBeat assigns LendingTree a “Moderate Buy” consensus rating with an average price target of $58.13.

LendingTree operates through three segments: Home, Consumer, and Insurance. The company’s Home segment provides mortgage, refinance, and home equity loan services, along with real estate brokerage services.

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