LendingTree, Inc. (NASDAQ:TREE) Sees Significant Decrease in Short Interest

LendingTree, Inc. (NASDAQ:TREE) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 365,300 shares, a drop of 23.3% from the February 28th total of 476,200 shares. Currently, 3.4% of the company’s stock are short sold. Based on an average daily trading volume, of 258,900 shares, the days-to-cover ratio is presently 1.4 days.

LendingTree Stock Performance

Shares of TREE stock opened at $49.84 on Monday. The stock’s 50-day moving average price is $45.69 and its 200 day moving average price is $47.08. 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 market capitalization of $667.50 million, a PE ratio of -18.72 and a beta of 2.14. LendingTree has a 52-week low of $33.58 and a 52-week high of $62.49.

Insider Activity

In other news, COO Scott Peyree bought 9,794 shares of LendingTree stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $46.13 per share, with a total value of $451,797.22. Following the completion of the acquisition, the chief operating officer now directly owns 97,566 shares in the company, valued at $4,500,719.58. The trade was a 11.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 23.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. National Bank of Canada FI acquired a new position in LendingTree in the 3rd quarter valued at $32,000. New Age Alpha Advisors LLC acquired a new position in shares of LendingTree during the fourth quarter worth about $36,000. Tower Research Capital LLC TRC raised its holdings in LendingTree by 248.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,190 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 848 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in LendingTree in the fourth quarter valued at about $54,000. Finally, CANADA LIFE ASSURANCE Co purchased a new position in shares of LendingTree during the 4th quarter worth approximately $56,000. Institutional investors and hedge funds own 68.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TREE shares. Northland Securities upgraded LendingTree from a “market perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. raised their target price on LendingTree from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Needham & Company LLC dropped their price target on shares of LendingTree from $78.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Keefe, Bruyette & Woods reduced their price objective on shares of LendingTree from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Finally, Stephens reissued an “overweight” rating and issued a $69.00 price target on shares of LendingTree in a research report on Thursday, March 6th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, LendingTree presently has a consensus rating of “Buy” and a consensus price target of $65.75.

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.