LendingTree (NASDAQ:TREE) Sees Large Volume Increase – Here’s Why

LendingTree, Inc. (NASDAQ:TREE) saw unusually-strong trading volume on Thursday . Approximately 1,208,307 shares changed hands during mid-day trading, an increase of 389% from the previous session’s volume of 247,214 shares.The stock last traded at $37.51 and had previously closed at $38.57.

Analyst Upgrades and Downgrades

Several research analysts have commented on TREE shares. Oppenheimer raised their price objective on LendingTree from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Susquehanna lifted their target price on LendingTree from $50.00 to $58.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC lifted their target price on LendingTree from $67.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Truist Financial lifted their target price on LendingTree from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Keefe, Bruyette & Woods lifted their target price on LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.00.

LendingTree Stock Performance

The stock has a market cap of $501.13 million, a P/E ratio of -13.14 and a beta of 2.03. The company has a fifty day moving average of $51.29 and a 200 day moving average of $49.54. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.92 and a quick ratio of 0.92.

Insiders Place Their Bets

In other LendingTree news, General Counsel Heather Enlow-Novitsky sold 564 shares of LendingTree stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $52.54, for a total value of $29,632.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 23.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its position in LendingTree by 1.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,452 shares of the financial services provider’s stock worth $697,000 after purchasing an additional 295 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of LendingTree by 697.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 12,633 shares of the financial services provider’s stock valued at $535,000 after acquiring an additional 11,049 shares in the last quarter. CWM LLC grew its holdings in shares of LendingTree by 230.8% during the 2nd quarter. CWM LLC now owns 602 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 420 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of LendingTree by 297.2% during the 2nd quarter. SG Americas Securities LLC now owns 11,797 shares of the financial services provider’s stock valued at $491,000 after acquiring an additional 8,827 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in shares of LendingTree during the 2nd quarter valued at $8,380,000. Institutional investors and hedge funds own 68.26% of the company’s stock.

LendingTree Company Profile

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.