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Fly News Breaks for November 12, 2018
TREE
Nov 12, 2018 | 07:22 EDT
Northland analyst Mike Grondahl downgraded LendingTree to Market Perform from Outperform citing his concerns about mortgage activity. Though noting that LendingTree's CEO recently noted on the company's September quarter conference call that the company would grow Mortgage revenue "significantly" in 2019, Grondahl sees this being challenging. The analyst, who previously forecast LendingTree's Mortgage revenue to be down 4% in 2019, now expects it could be down 15%, he tells investors. Grondahl keeps a $273 price target on LendingTree shares.
News For TREE From the Last 2 Days
TREE
Mar 27, 2024 | 16:18 EDT
LendingTree has secured up to $175M in financing in the form of a first lien term loan facility from funds managed by Apollo affiliates. LendingTree intends to draw $125M of the facility upon funding while the remainder will be available as a delayed draw during the following 12 months. The funds will be used for general corporate purposes, which may include repayment of existing debt.