What happened Shares of online-loans facilitator LendingTree (NASDAQ: TREE) closed down 10.6% on Tuesday after the company announced that its largest shareholder, a subsidiary of GCI Liberty, plans to sell all of its shares of LendingTree at a price well below where LendingTree stock closed on Monday. GCI plans to sell just under 3 million shares of common stock at an offer price of $295 per share. GCI simultaneously plans to sell 488,005 more shares in a private placement bought by the Royal Bank of Canada (RBC) at a price not specified in the announcement. Image source: Getty Images. So what In short, GCI is selling off just under 3.5 million shares of stock. This is nearly 27% of all LendingTree shares in existence and also every single share that GCI currently owns. The company will probably receive about $1 billion in proceeds from the sale -- assuming the private placement takes place at the same price as the public sale -- but LendingTree will receive... nothing. Now what This isn't a big vote of confidence in LendingTree's future, and investors aren't interpreting it as one. With LendingTree now down 11% over the past year, while the rest of the S&P 500 is up 16%, the stock has underperformed "the market" by a combined 27 percentage points over the past 52 weeks. It seems that GCI has now finally had enough of this underperformance and is throwing in the towel. And judging from the price action on Wall Street today, it seems many other LendingTree shareholders are feeling the same way. 10 stocks we like better than LendingTreeWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and LendingTree wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source