LendingTree (NASDAQ:TREE) Trading Up 7% – Here’s What Happened

LendingTree, Inc. (NASDAQ:TREE)’s stock price was up 7% during trading on Wednesday . The stock traded as high as $56.91 and last traded at $56.45. Approximately 99,108 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 222,257 shares. The stock had previously closed at $52.76.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Truist Financial increased their price objective on shares of LendingTree from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday. Oppenheimer lifted their price objective on LendingTree from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday. StockNews.com upgraded shares of LendingTree from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Stephens increased their price objective on shares of LendingTree from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods lifted their price target on LendingTree from $71.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

LendingTree Stock Down 20.6 %

The stock has a 50-day simple moving average of $56.66 and a 200-day simple moving average of $49.02. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 3.21. The company has a market cap of $603.86 million, a price-to-earnings ratio of -4.84 and a beta of 2.12.

Institutional Trading of LendingTree

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in LendingTree by 5.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,885 shares of the financial services provider’s stock worth $1,435,000 after acquiring an additional 1,605 shares during the period. Empowered Funds LLC increased its position in shares of LendingTree by 7.9% in the first quarter. Empowered Funds LLC now owns 31,136 shares of the financial services provider’s stock worth $1,318,000 after acquiring an additional 2,275 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in shares of LendingTree by 185.2% during the first quarter. Susquehanna Fundamental Investments LLC now owns 19,850 shares of the financial services provider’s stock valued at $840,000 after acquiring an additional 12,889 shares during the period. Headlands Technologies LLC lifted its position in shares of LendingTree by 16.8% in the 1st quarter. Headlands Technologies LLC now owns 1,881 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 270 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in LendingTree in the 1st quarter worth approximately $339,000. 68.26% of the stock is currently owned by institutional investors.

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.