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

LendingTree, Inc. (NASDAQ:TREE) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 315,600 shares, an increase of 55.5% from the October 15th total of 202,900 shares. Currently, 2.9% of the shares of the stock are sold short. Based on an average trading volume of 218,900 shares, the days-to-cover ratio is currently 1.4 days.

LendingTree Stock Down 8.5 %

NASDAQ:TREE opened at $44.34 on Friday. The company has a market cap of $592.38 million, a price-to-earnings ratio of -16.42 and a beta of 2.11. 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 stock’s fifty day moving average price is $55.00 and its two-hundred day moving average price is $49.92. LendingTree has a 52-week low of $15.10 and a 52-week high of $62.49.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Needham & Company LLC boosted their target price on shares of LendingTree from $67.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com upgraded shares of LendingTree from a “hold” rating to a “buy” rating in a research report on Sunday, November 10th. Northland Securities raised their price objective on shares of LendingTree from $50.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods raised their price target on LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Susquehanna boosted their price objective on LendingTree from $50.00 to $58.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, LendingTree has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Insider Activity at LendingTree

In related news, General Counsel Heather Enlow-Novitsky sold 564 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $52.54, for a total transaction of $29,632.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LendingTree

Large investors have recently made changes to their positions in the company. CWM LLC increased its position in LendingTree by 230.8% in the second quarter. CWM LLC now owns 602 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 420 shares during the period. National Bank of Canada FI bought a new position in shares of LendingTree in the 3rd quarter valued at about $32,000. Point72 DIFC Ltd grew its position 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 worth $67,000 after buying an additional 499 shares during the period. nVerses Capital LLC raised its stake 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 buying an additional 800 shares during the last quarter. Finally, Headlands Technologies LLC boosted its stake in LendingTree by 16.8% in the first 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 during the last quarter. 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.