LendingTree (NASDAQ:TREE) Shares Up 6.4% – Here’s What Happened

LendingTree, Inc. (NASDAQ:TREE)’s stock price traded up 6.4% on Wednesday . The company traded as high as $43.21 and last traded at $43.05. 112,898 shares traded hands during trading, a decline of 55% from the average session volume of 250,938 shares. The stock had previously closed at $40.46.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Truist Financial lifted their target price on shares of LendingTree from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com lowered LendingTree from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Needham & Company LLC raised their target price on LendingTree from $67.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Oppenheimer boosted their price target on LendingTree from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Keefe, Bruyette & Woods raised their price objective on LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

LendingTree Trading Down 3.4 %

The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.67. The company has a market cap of $522.32 million, a PE ratio of -14.48 and a beta of 2.03. The company has a fifty day simple moving average of $48.47 and a two-hundred day simple moving average of $49.32.

Insider Buying and Selling

In other LendingTree news, CTO Scott V. Totman bought 3,750 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were acquired at an average price of $38.59 per share, with a total value of $144,712.50. Following the transaction, the chief technology officer now owns 18,192 shares of the company’s stock, valued at approximately $702,029.28. The trade was a 25.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas R. Lebda purchased 13,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was acquired at an average cost of $39.72 per share, with a total value of $516,360.00. Following the completion of the acquisition, the chief executive officer now directly owns 121,599 shares of the company’s stock, valued at $4,829,912.28. This represents a 11.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 23.40% of the company’s stock.

Institutional Investors Weigh In On LendingTree

A number of institutional investors and hedge funds have recently bought and sold shares of TREE. Emerald Advisers LLC increased its holdings in shares of LendingTree by 3.0% in the 3rd quarter. Emerald Advisers LLC now owns 356,389 shares of the financial services provider’s stock valued at $20,681,000 after acquiring an additional 10,497 shares during the period. Renaissance Technologies LLC grew its position in LendingTree by 25.0% during the 2nd quarter. Renaissance Technologies LLC now owns 292,900 shares of the financial services provider’s stock worth $12,182,000 after purchasing an additional 58,500 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in 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 during the period. Geode Capital Management LLC raised its holdings in shares of LendingTree by 1.0% in the third quarter. Geode Capital Management LLC now owns 253,208 shares of the financial services provider’s stock valued at $14,697,000 after buying an additional 2,595 shares during the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in shares of LendingTree during the second quarter worth about $8,380,000. 68.26% of the stock is owned by hedge funds and other institutional investors.

LendingTree Company Profile

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.