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

LendingTree, Inc. (NASDAQ:TREE) shares rose 6.4% during mid-day trading on Wednesday . The stock traded as high as $43.21 and last traded at $43.05. Approximately 112,898 shares traded hands during trading, a decline of 55% from the average daily volume of 250,938 shares. The stock had previously closed at $40.46.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. StockNews.com lowered shares of LendingTree from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Truist Financial upped their price objective on LendingTree from $60.00 to $70.00 and gave the stock a “buy” rating in a research report 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 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 research report on Friday, November 1st. Finally, Keefe, Bruyette & Woods boosted their price objective on LendingTree from $71.00 to $73.00 and gave the stock an “outperform” rating in a research 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 Price Performance

The stock has a market capitalization of $529.27 million, a price-to-earnings ratio of -14.67 and a beta of 2.03. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.67. The stock has a fifty day moving average of $47.77 and a 200-day moving average of $49.18.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Lisanti Capital Growth LLC acquired a new position in shares of LendingTree during the 3rd quarter worth $3,651,000. Emerald Mutual Fund Advisers Trust increased its holdings 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 buying an additional 23,995 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of LendingTree during the 3rd quarter worth approximately $1,612,000. Polar Asset Management Partners Inc. acquired a new stake in shares of LendingTree in the 3rd quarter worth approximately $1,045,000. Finally, ClariVest Asset Management LLC purchased a new position in LendingTree in the 2nd quarter valued at approximately $1,360,000. Institutional investors and hedge funds own 68.26% of the company’s stock.

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.