LendingTree, Inc. - TREE STOCK NEWS

On December 1, 2020, a LendingTree survey revealed that over 86.7 million Americans (34%) are actively stockpiling household supplies in anticipation of a winter wave of COVID-19, with an additional 35% planning to do so. Key items purchased include food (64%), hand sanitizer (61%), and cleaning supplies (60%). On average, consumers spent $359 on supplies recently, up from $178 earlier in the pandemic. Additionally, 27% of consumers have credit card debt linked to these purchases. The survey, conducted from November 6-9, 2020, highlights the ongoing financial impact of the pandemic.

In 2021, U.S. health insurance costs average $496 per month, totaling $5,952 annually, marking a 1.59% drop from 2020. However, variances exist across states, with West Virginia having the highest premiums at $712/month, 43.14% above the national average. Notably, New Jersey saw a 9% increase due to a new state-run marketplace, while Pennsylvania's costs decreased by 8%. HMO and POS plans exhibited the largest premium drops, approaching 10.67% and 9.04% respectively. Analysts warn that overall costs may rise slightly due to anticipated claims from delayed procedures during the COVID-19 pandemic.

LendingTree, Inc. (NASDAQ: TREE) announced the pricing of a public offering of 2,955,984 shares of common stock by Ventures Holdco II, LLC at $295.00 per share, set to close on November 18, 2020. Additionally, a Concurrent Private Placement will involve 488,005 shares purchased by Royal Bank of Canada, contingent upon the public offering's completion. Post-offering, GCI Liberty will no longer own any shares, leading to the termination of its Spinco Agreement and the resignation of director Courtnee Chun. LendingTree will not receive any proceeds from these transactions.

LendingTree, Inc. (NASDAQ: TREE) announced a public offering of 2,955,984 shares of common stock by Ventures Holdco II, LLC, a subsidiary of GCI Liberty. Additionally, 488,005 shares will be offered in a concurrent private placement to Royal Bank of Canada. The public offering is independent of the private placement, although the latter depends on the former's completion. Post-offering, GCI Liberty will no longer hold shares in LendingTree, resulting in the termination of its board nomination rights. LendingTree will not receive proceeds from either offering.

LendingTree, Inc. (NASDAQ: TREE), the leading online financial services marketplace, announced its participation in two upcoming investor conferences on November 18, 2020. CFO J.D. Moriarty and VP Trent Ziegler will present at the Stephens Annual Investment Conference at 10:00 a.m. ET, followed by CEO Doug Lebda at the RBC Capital Markets Virtual Conference at 4:00 p.m. ET. Both discussions will be live-streamed and archived on the company's website. LendingTree aims to simplify financial decisions by connecting consumers with diverse financial options.

A recent survey by ValuePenguin.com revealed significant gaps in Americans' understanding of health insurance. 50% of respondents could not answer basic insurance questions, and 72% found purchasing health insurance confusing. Key findings include that 55% do not know what a premium is, while 37% worry about affording coverage. Furthermore, 57% of insured individuals have avoided medical care due to uncertainty about coverage. The survey, conducted in October 2020, highlights critical knowledge deficits that could have serious financial implications.

LendingTree, Inc. (NASDAQ: TREE) announced third quarter results for 2020, reporting total revenue of $220.3 million, a decline of 29% year-over-year. Despite challenges from the pandemic, the company saw growth in the Insurance segment, with revenue rising 24% to $92.5 million, while the Home segment revenue increased by 2%. However, the Consumer segment faced a significant revenue drop of 68%. The company recorded a net loss of $24.8 million. For Q4 2020, LendingTree expects revenue between $200 to $215 million.