Lendingtree Inc (TREE) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $0.76 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.74. The company posted revenue of $94.70 million in the period, compared to analysts expectations of $86.60 million. The company’s revenue was up 86.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.
Many Wall Street Analysts have commented on Lendingtree Inc. Mizuho Initiated Lendingtree Inc on Mar 30, 2016 to “Buy”, Price Target of the shares are set at $110.
Lendingtree Inc opened for trading at $89.16 and hit $92.39 on the upside on Monday, eventually ending the session at $92.39, with a gain of 3.26% or 2.92 points. The heightened volatility saw the trading volume jump to 6,47,619 shares. Company has a market cap of $1,097 M.
In a different news, on Mar 8, 2016, Nikul Patel (Chief Operating Officer) sold 4,000 shares at $89.35 per share price. According to the SEC, on Mar 3, 2016, Neil Salvage (Chief Revenue Officer) sold 5,000 shares at $89.25 per share price. On Feb 17, 2016, Gabriel Dalporto (Chief Financial Officer) sold 7,944 shares at $19.65 per share price, according to the Form-4 filing with the securities and exchange commission.
LendingTree Inc. (LendingTree) formerly Tree.com Inc. is engaged in operating an online loan marketplace for consumers an array of loan types and other credit-based offerings. The Company offers consumers tools and resources including free credit scores which help them to comparison-shop for mortgage loans home equity loans and lines of credit reverse mortgages personal loans auto loans student loans credit cards small business loans and other related offerings. And upon submitting their relevant information to the Company through an inquiry form it seeks to match in-market consumers with multiple lenders on its marketplace. The Company operates in four segments: lending auto education and home services. It provides information and tools including free credit scores located on its various Websites. In addition the Company provides consumers with access to offers from multiple lenders.