LendingTree (NASDAQ:TREE) Price Target Cut to $65.00 by Analysts at Needham & Company LLC

LendingTree (NASDAQ:TREE) had its price objective dropped by investment analysts at Needham & Company LLC from $78.00 to $65.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 61.41% from the company’s current price.

TREE has been the subject of a number of other reports. Northland Capmk upgraded shares of LendingTree from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. Northland Securities upgraded shares of LendingTree from a “market perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a research report on Tuesday, January 21st. Finally, StockNews.com upgraded shares of LendingTree from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, LendingTree currently has a consensus rating of “Buy” and an average target price of $65.86.

LendingTree Stock Up 4.0 %

TREE stock opened at $40.27 on Thursday. The stock has a 50-day simple moving average of $42.02 and a two-hundred day simple moving average of $47.78. LendingTree has a twelve month low of $33.58 and a twelve month high of $62.49. The firm has a market capitalization of $538.09 million, a PE ratio of -14.91 and a beta of 2.07. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.67.

Insiders Place Their Bets

In related news, CTO Scott V. Totman bought 3,750 shares of the 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 purchase, the chief technology officer now owns 18,192 shares in the company, valued at approximately $702,029.28. The trade was a 25.97 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Douglas R. Lebda bought 13,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were bought at an average price of $39.72 per share, with a total value of $516,360.00. Following the completion of the acquisition, 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. Insiders own 23.40% of the company’s stock.

Institutional Investors Weigh In On LendingTree

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI bought a new stake in LendingTree in the 3rd quarter worth $32,000. New Age Alpha Advisors LLC purchased a new stake in shares of LendingTree during the fourth quarter worth about $36,000. Tower Research Capital LLC TRC boosted its holdings in shares of 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 during the period. Wealthfront Advisers LLC bought a new stake in shares of LendingTree in the fourth quarter worth about $54,000. Finally, CANADA LIFE ASSURANCE Co purchased a new position in LendingTree during the 4th quarter valued at about $56,000. 68.26% of the stock is currently owned by 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.