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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Lendingtree Inc    TREE

LENDINGTREE INC (TREE)
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Lendingtree : Fast-growing Charlotte tech company may move headquarters to historic mill

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04/14/2018 | 03:31am CEST

April 14--Charlotte-based technology company LendingTree said Friday it's considering moving its headquarters to a former mill in Pineville to accommodate a fast-growing workforce.

Ballantyne-based LendingTree announced plans in November 2016 to relocate to two buildings in SouthPark, but a spokeswoman said Friday that the company is "evaluating alternatives" after its headcount projections increased significantly.

"The opportunity to be a part of revitalizing Pineville's former Cone Mill is something we are excited about, although we are still in the early evaluation stages," spokeswoman Megan Greuling said. "We are taking a very disciplined approach in deciding what option or options will best suit the needs for our employees, our shareholders and the community."

The Town of Pineville has been looking for a partner to develop the Cone Mill property at 436 Cone Ave. which has structures dating to 1892, according to a presentation on the proposed project. The town bought the vacant mill in 2015.

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LendingTree, the online service that matches borrowers with lenders led by CEO Doug Lebda, said in 2016 that it planned to add more than 300 workers in its hometown, more than doubling its Charlotte presence over the next five years. The company currently has about 575 total employees, with 434 in Charlotte.

The company's stock was one of the best-performing of all companies last year as the company produced record revenue and expanded into new financial products.

Last year, it placed No. 3 on Fortune's fastest-growing companies list.

Rick Rothacker: 704-358-5170, @rickrothacker

___

(c)2018 The Charlotte Observer (Charlotte, N.C.)

Visit The Charlotte Observer (Charlotte, N.C.) at www.charlotteobserver.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials ($)
Sales 2018 755 M
EBIT 2018 113 M
Net income 2018 108 M
Finance 2018 44 504 M
Yield 2018 -
P/E ratio 2018 29,63
P/E ratio 2019 36,29
EV / Sales 2018 -55,1x
EV / Sales 2019 -157x
Capitalization 2 916 M
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 301 $
Spread / Average Target 32%
EPS Revisions
Managers
NameTitle
Douglas Robert Lebda Chairman & Chief Executive Officer
Neil Salvage President
J. D. Moriarty Chief Financial Officer
Paul Tyma Chief Technology Officer
Peter C. Horan Independent Director
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