LendingTree (NASDAQ:TREE) Shares Down 6.9% – Here’s What Happened

by · The Cerbat Gem

LendingTree, Inc. (NASDAQ:TREE – Get Free Report) dropped 6.9% during trading on Monday . The company traded as low as $41.00 and last traded at $41.18. Approximately 81,745 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 239,901 shares. The stock had previously closed at $44.21.

Analyst Ratings Changes

A number of research firms have issued reports on TREE. Needham & Company LLC raised their price target on shares of LendingTree from $67.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Truist Financial raised their target price on shares of LendingTree from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Oppenheimer upped their price target on shares of LendingTree from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, November 1st. StockNews.com lowered LendingTree from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Finally, Keefe, Bruyette & Woods upped their target price on LendingTree from $71.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

Check Out Our Latest Analysis on LendingTree

LendingTree Stock Down 2.5 %

The company has a market cap of $532.74 million, a price-to-earnings ratio of -14.77 and a beta of 2.03. The business has a fifty day moving average of $51.64 and a two-hundred day moving average of $49.61. 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, General Counsel Heather Enlow-Novitsky sold 564 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were 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. Insiders own 23.40% of the company’s stock.

Institutional Investors Weigh In On LendingTree

Several large investors have recently bought and sold shares of the company. National Bank of Canada FI acquired a new stake in LendingTree during the 3rd quarter worth $32,000. CWM LLC lifted its stake in shares of 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 buying an additional 420 shares in the last quarter. Point72 DIFC Ltd boosted its position in LendingTree by 77.0% during the third quarter. Point72 DIFC Ltd now owns 1,147 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 499 shares during the last quarter. nVerses Capital LLC grew 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 acquiring an additional 800 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in LendingTree in the 2nd quarter valued at about $132,000. 68.26% of the stock is currently owned by hedge funds and other institutional investors.

About LendingTree

(Get Free Report)

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.

Recommended Stories