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LendingTree, Inc. operates LendingTree.com, an online financial services marketplace that connects U.S. consumers with offers for loans, credit cards, insurance and related financial products through a network of financial partners. Its business is reported through Home, Consumer and Insurance segments, with revenue tied to marketplace referrals, partner demand and completed financial-product transactions.
Company news commonly covers quarterly results, variable marketing margin, adjusted EBITDA, segment performance and the role of the Insurance marketplace in revenue growth. Updates also address mortgage and housing policy, consumer-permissioned lead generation, home equity activity, credit-product demand, leadership appointments and governance changes affecting the company’s marketplace operations.
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QuoteWizard, a LendingTree company, released a report on COVID-19 vaccine acceptance across the U.S., ranking all states based on vaccination rates. In 2019, the national average for age-appropriate vaccinations among adults was 40%. A Gallup poll indicated that 42% of adults would not take a COVID-19 vaccine. Massachusetts, Rhode Island, and Maryland exhibited the highest vaccination rates, while Nevada, Wyoming, and Georgia ranked the lowest. The report highlighted an average increase of 5.3% in vaccinations between 2015 and 2019.
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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.
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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.
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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.