LendingTree (NASDAQ:TREE) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of LendingTree (NASDAQ:TREE) from a hold rating to a buy rating in a research report report published on Friday morning.

Several other analysts also recently issued reports on the company. Northland Securities upgraded LendingTree from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a report on Tuesday, January 21st. Truist Financial increased their price target on LendingTree from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, November 1st. Susquehanna increased their price target on LendingTree from $50.00 to $58.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods increased their price target on LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, 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 note on Friday, November 1st. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, LendingTree has a consensus rating of “Buy” and an average price target of $64.00.

LendingTree Price Performance

Shares of NASDAQ TREE opened at $46.97 on Friday. LendingTree has a 12-month low of $28.50 and a 12-month high of $62.49. 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 stock has a fifty day moving average price of $41.47 and a 200 day moving average price of $48.31.

Insider Buying and Selling

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

Hedge Funds Weigh In On LendingTree

A number of hedge funds have recently bought and sold shares of the company. National Bank of Canada FI bought a new position in LendingTree in the third quarter worth about $32,000. New Age Alpha Advisors LLC bought a new position in LendingTree in the fourth quarter worth about $36,000. Tower Research Capital LLC TRC lifted its holdings in LendingTree by 248.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,190 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 848 shares during the last quarter. Wealthfront Advisers LLC bought a new position in LendingTree in the fourth quarter worth about $54,000. Finally, CANADA LIFE ASSURANCE Co bought a new position in LendingTree in the fourth quarter worth about $56,000. 68.26% of the stock is currently owned by institutional investors and hedge funds.

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.