Yesterday, the President of Lendingtree (TREE), Neil Salvage, bought shares of TREE for $1.2M.
Following Neil Salvage’s last TREE Buy transaction on May 12, 2020, the stock climbed by 35.2%. This is Salvage’s first Buy trade following 20 Sell transactions.
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Based on Lendingtree’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $283 million and quarterly net profit of $14.4 million. In comparison, last year the company earned revenue of $262 million and had a GAAP net loss of $512K. The company has a one-year high of $434.94 and a one-year low of $135.72. Currently, Lendingtree has an average volume of 87.25K.
Five different firms, including Northland Securities and Needham, currently also have a Buy rating on the stock. Based on 7 analyst ratings, the analyst consensus is Strong Buy with an average price target of $266.57, reflecting a 4.7% upside.
In the last 30 days, insiders have sold $27.97K worth of TREE shares and purchased $1.2M worth of TREE shares. The insider sentiment on Lendingtree has been negative according to 29 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.
Neil Salvage’s trades have generated a -24.1% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.
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LendingTree, Inc. engages in the operation of online loan marketplace for consumers seeking loans and other credit-based offerings. It operates through the following segments: Home, Consumer, Insurance, and Other. The Home segment consists of purchase mortgage, refinance mortgage, home equity loans and lines of credit, reverse mortgage loans, and real estate. The Consumer segment includes credit cards, personal loans, small business loans, student loans, auto loans, deposit accounts, and other credit products. The Insurance segment comprises of insurance quote products. The Other segment deals with the resale of online advertising space to third parties and revenue from home improvement referrals. The company was founded Douglas Lebda in April 2008 and is headquartered in Charlotte, NC.
