Short Interest in LendingTree, Inc. (NASDAQ:TREE) Rises By 168.8%

LendingTree, Inc. (NASDAQ:TREE) was the target of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 848,200 shares, an increase of 168.8% from the October 31st total of 315,600 shares. Approximately 7.8% of the shares of the company are short sold. Based on an average daily trading volume, of 240,300 shares, the days-to-cover ratio is currently 3.5 days.

Insider Activity

In other news, General Counsel Heather Enlow-Novitsky sold 564 shares of LendingTree stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $52.54, for a total transaction of $29,632.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 23.40% of the company’s stock.

Institutional Investors Weigh In On LendingTree

A number of large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its position in LendingTree by 697.5% during the first quarter. Public Employees Retirement System of Ohio now owns 12,633 shares of the financial services provider’s stock worth $535,000 after acquiring an additional 11,049 shares during the last quarter. Lisanti Capital Growth LLC acquired a new position in shares of LendingTree during the 3rd quarter worth approximately $3,651,000. Emerald Mutual Fund Advisers Trust grew its position in shares of LendingTree by 9.3% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 280,731 shares of the financial services provider’s stock valued at $11,676,000 after purchasing an additional 23,995 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of LendingTree in the third quarter valued at approximately $1,612,000. Finally, ClariVest Asset Management LLC purchased a new position in LendingTree during the second quarter worth approximately $1,360,000. Hedge funds and other institutional investors own 68.26% of the company’s stock.

LendingTree Stock Performance

Shares of NASDAQ:TREE opened at $43.85 on Thursday. The business’s 50 day moving average price is $52.98 and its 200-day moving average price is $49.72. LendingTree has a 1 year low of $15.95 and a 1 year high of $62.49. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $585.84 million, a PE ratio of -16.24 and a beta of 2.11.

Analyst Upgrades and Downgrades

Several analysts recently commented on TREE shares. Needham & Company LLC raised their price target on shares of LendingTree from $67.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods lifted their price target on LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. StockNews.com downgraded LendingTree from a “buy” rating to a “hold” rating in a research report on Wednesday. Oppenheimer boosted their price objective on LendingTree from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Truist Financial increased their target price on LendingTree from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $64.00.

About LendingTree

LendingTree, Inc, through its subsidiary, operates online consumer platform in the United States. It operates through three segments: Home, Consumer, and Insurance. The Home segment offers purchase mortgage, refinance mortgage, and home equity loans and lines of credit; and real estate brokerage services.