CHARLOTTE, NC – LendingTree, Inc. (NASDAQ:TREE), a leading online loan marketplace, announced the results of its 2024 Annual Meeting of Stockholders held on Tuesday. The company confirmed the re-election of its nine-member board of directors and reported stockholder approval of executive compensation and the ratification of its independent auditor for the fiscal year.
At the meeting, a quorum of over 11 million shares was present, representing the majority of LendingTree's common stock entitled to vote. Each director nominee was elected to serve a one-year term. The directors, including CEO Douglas Lebda, received a range of 8,351,663 to 9,033,810 votes in favor, with Gabriel Dalporto receiving the highest number of favorable votes.
In an advisory vote, stockholders approved the company's executive compensation plan with 8,783,178 votes in favor, demonstrating support for the management's remuneration policies.
Additionally, the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for 2024 was ratified with significant support, receiving 11,014,335 votes for the proposal.
These voting outcomes reflect shareholder confidence in both the governance of the company and its financial oversight mechanisms. The annual meeting's decisions are critical in steering the company's strategic direction and maintaining robust corporate governance standards.
The information for this article is based on a press release statement.
In other recent news, Lending Tree has been the focus of several financial firms following its first-quarter results. Keefe, Bruyette & Woods has raised its price target for Lending Tree to $60, citing increased confidence in the company's earnings recovery trajectory. This comes after the company's recent performance, which included a revenue guidance increase and an optimistic outlook on network partner demand in the consumer segment.
Similarly, Truist Securities elevated its price target for Lending Tree to $55, following stronger-than-expected first-quarter results and forecasts for 2024. The firm highlighted the company's resilience despite high interest rates and a positive shift in the Insurance segment as key factors driving enhanced profitability. Truist Securities also noted Lending Tree's new term loan arrangement, which is expected to help manage its debt obligations due in 2025.
JPMorgan also increased its price target for Lending Tree to $53, following strong first-quarter results and revised full-year 2024 revenue expectations. The firm maintains an Overweight rating on the shares, reflecting confidence in the company's trajectory beyond just the Insurance segment.
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