StockNews.com Upgrades LendingTree (NASDAQ:TREE) to Buy

LendingTree (NASDAQ:TREE) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

A number of other brokerages also recently commented on TREE. Needham & Company LLC lifted their price target on shares of LendingTree from $67.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Northland Capmk upgraded LendingTree from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 21st. Oppenheimer raised their price objective on LendingTree from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Northland Securities upgraded LendingTree from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research note on Tuesday, January 21st. Finally, Truist Financial raised their price target on LendingTree from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $64.00.

LendingTree Price Performance

Shares of NASDAQ:TREE traded down $0.72 on Wednesday, hitting $45.92. The company had a trading volume of 356,498 shares, compared to its average volume of 270,678. The company has a market cap of $613.58 million, a PE ratio of -17.01 and a beta of 2.06. The business has a 50 day moving average of $40.83 and a 200 day moving average of $48.89. LendingTree has a 52-week low of $28.50 and a 52-week high of $62.49. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.67.

Insider Activity

In related news, CTO Scott V. Totman bought 3,750 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was bought at an average price of $38.59 per share, with a total value of $144,712.50. Following the transaction, the chief technology officer now owns 18,192 shares of the company’s stock, valued at approximately $702,029.28. This trade represents a 25.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Heather Enlow-Novitsky sold 564 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $52.54, for a total transaction of $29,632.56. The disclosure for this sale can be found here. Insiders own 23.40% of the company’s stock.

Institutional Trading of LendingTree

Several hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI bought a new position in shares of LendingTree in the third quarter worth $32,000. Point72 DIFC Ltd grew its position in LendingTree by 77.0% in 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 in the last quarter. nVerses Capital LLC increased its stake in LendingTree by 200.0% during the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the financial services provider’s stock valued at $70,000 after buying an additional 800 shares during the period. CWM LLC raised its position in shares of LendingTree by 262.1% during the 3rd quarter. CWM LLC now owns 2,180 shares of the financial services provider’s stock worth $127,000 after buying an additional 1,578 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of LendingTree in the 3rd quarter worth approximately $203,000. Institutional investors 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.