LendingTree (NASDAQ:TREE) Trading Up 4.6% – What’s Next?

Shares of LendingTree, Inc. (NASDAQ:TREE) were up 4.6% during mid-day trading on Thursday . The company traded as high as $52.20 and last traded at $51.74. Approximately 112,502 shares changed hands during trading, a decline of 51% from the average daily volume of 230,582 shares. The stock had previously closed at $49.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TREE shares. Needham & Company LLC reduced their price target on shares of LendingTree from $78.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. JPMorgan Chase & Co. lifted their price objective on LendingTree from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. StockNews.com upgraded LendingTree from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Northland Securities upgraded LendingTree from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research report on Tuesday, January 21st. Finally, Northland Capmk upgraded LendingTree from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, LendingTree has an average rating of “Buy” and an average price target of $65.75.

LendingTree Price Performance

The stock has a market capitalization of $696.89 million, a PE ratio of -19.08 and a beta of 2.14. 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’s 50 day simple moving average is $43.59 and its 200 day simple moving average is $47.16.

Insiders Place Their Bets

In other news, COO Scott Peyree bought 9,794 shares of the stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $46.13 per share, with a total value of $451,797.22. Following the purchase, the chief operating officer now owns 97,566 shares of the company’s stock, valued at approximately $4,500,719.58. The trade was a 11.16 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 23.40% of the stock is owned by corporate insiders.

Institutional Trading of LendingTree

Institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI purchased a new stake in shares of LendingTree during the 3rd quarter valued at $32,000. New Age Alpha Advisors LLC purchased a new stake in shares of LendingTree during the 4th quarter valued at $36,000. Point72 DIFC Ltd grew its stake in shares of LendingTree by 77.0% during the 3rd quarter. Point72 DIFC Ltd now owns 1,147 shares of the financial services provider’s stock valued at $67,000 after buying an additional 499 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of LendingTree by 248.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,190 shares of the financial services provider’s stock valued at $46,000 after buying an additional 848 shares during the period. Finally, Wealthfront Advisers LLC purchased a new stake in shares of LendingTree during the 4th quarter valued at $54,000. 68.26% of the stock is owned by hedge funds and other 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.