LendingTree (NASDAQ:TREE) Stock Price Down 6.9% – Here’s Why

LendingTree, Inc. (NASDAQ:TREE) dropped 6.9% during mid-day trading on Thursday . The stock traded as low as $40.74 and last traded at $40.74. Approximately 230,930 shares changed hands during trading, a decline of 8% from the average daily volume of 251,333 shares. The stock had previously closed at $43.78.

Wall Street Analysts Forecast Growth

TREE has been the topic of several recent analyst reports. Needham & Company LLC boosted their price objective on LendingTree from $67.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods lifted their target price on LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Oppenheimer lifted their target price on LendingTree from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Susquehanna lifted their target price on LendingTree from $50.00 to $58.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, StockNews.com cut LendingTree from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

LendingTree Trading Down 2.6 %

The company has a 50 day moving average of $49.37 and a 200 day moving average of $49.34. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $531.73 million, a P/E ratio of -14.74 and a beta of 2.03.

Insider Transactions at LendingTree

In other news, CTO Scott V. Totman bought 3,750 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was acquired at an average cost of $38.59 per share, for a total transaction of $144,712.50. Following the completion of the purchase, the chief technology officer now owns 18,192 shares of the company’s stock, valued at $702,029.28. This trade represents a 25.97 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Heather Enlow-Novitsky sold 564 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $52.54, for a total value of $29,632.56. The disclosure for this sale can be found here. Corporate insiders own 23.40% of the company’s stock.

Institutional Trading of LendingTree

Large investors have recently bought and sold shares of the stock. CWM LLC grew its position in LendingTree by 230.8% in the second quarter. CWM LLC now owns 602 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 420 shares during the period. National Bank of Canada FI bought a new stake in LendingTree in the third quarter valued at $32,000. Point72 DIFC Ltd grew its position in LendingTree by 77.0% in the third quarter. Point72 DIFC Ltd now owns 1,147 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 499 shares during the period. nVerses Capital LLC grew its holdings in shares of LendingTree by 200.0% during the third quarter. nVerses Capital LLC now owns 1,200 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 800 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in shares of LendingTree during the second quarter worth $132,000. 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.