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

LendingTree, Inc. (NASDAQ:TREE)’s stock price traded down 6.9% during trading on Monday . The stock traded as low as $41.00 and last traded at $41.18. 81,745 shares were traded during mid-day trading, a decline of 66% from the average session volume of 239,901 shares. The stock had previously closed at $44.21.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Needham & Company LLC raised their target price on LendingTree from $67.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Truist Financial raised their price target on LendingTree from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods upped their price objective on shares of LendingTree from $71.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com cut shares of LendingTree from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Finally, Oppenheimer upped their price target on shares of LendingTree from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $64.00.

LendingTree Price Performance

The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.67. The company’s 50-day simple moving average is $52.34 and its 200 day simple moving average is $49.69. The company has a market capitalization of $564.06 million, a P/E ratio of -15.25 and a beta of 2.11.

Insider Buying and Selling at LendingTree

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 value of $29,632.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 23.40% of the company’s stock.

Institutional Trading of LendingTree

Large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of LendingTree by 1.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,452 shares of the financial services provider’s stock valued at $697,000 after purchasing an additional 295 shares in the last quarter. CWM LLC grew its stake in LendingTree by 230.8% during 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 during the last quarter. Point72 DIFC Ltd increased its holdings in shares of 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 buying an additional 499 shares in the last quarter. National Bank of Canada FI acquired a new stake in shares of LendingTree during the third quarter worth approximately $32,000. Finally, nVerses Capital LLC raised its stake in shares of LendingTree by 200.0% in the third 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 during the last quarter. 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.