This purchase increases Lebda's direct ownership to 121,599 shares. Additionally, Lebda holds shares indirectly through various family holdings, although he disclaims beneficial ownership of these shares to the extent he does not have a pecuniary interest. InvestingPro subscribers can access 12 additional investment tips for TREE, along with comprehensive insider trading analysis and detailed Fair Value calculations in the Pro Research Report, helping investors make more informed decisions about this volatile financial stock. InvestingPro subscribers can access 12 additional investment tips for TREE, along with comprehensive insider trading analysis and detailed Fair Value calculations in the Pro Research Report, helping investors make more informed decisions about this volatile financial stock. This purchase increases Lebda's direct ownership to 121,599 shares. Additionally, Lebda holds shares indirectly through various family holdings, although he disclaims beneficial ownership of these shares to the extent he does not have a pecuniary interest.
In other recent news, LendingTree's Third Quarter 2024 Earnings Conference Call showcased robust growth and an optimistic outlook. The online lending marketplace reported a 23% increase in adjusted EBITDA, reaching $27 million, and a record $41 million in Variable Marketing Margin (VMD) due to a substantial 210% year-over-year growth in auto insurance quotes revenue. The company's consumer business and home segment saw revenue increases of 6% and 5%, respectively.
CEO Doug Lebda indicated expectations for improved credit conditions by late 2024 or early 2025 and a focus on maintaining a balanced customer acquisition strategy. Despite seasonal declines anticipated in Q4, the company experienced strong performance across all segments in October. However, revenue increase in personal loans was only 7%, despite a 50% rise in consumer traffic, due to tight credit restrictions. These are some of the recent developments regarding LendingTree's performance and outlook.
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