LendingTree (NASDAQ:TREE) Trading Up 6.4% – Should You Buy?

LendingTree, Inc. (NASDAQ:TREE) shot up 6.4% during trading on Wednesday . The stock traded as high as $43.21 and last traded at $43.05. 112,898 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 250,938 shares. The stock had previously closed at $40.46.

Analyst Upgrades and Downgrades

TREE has been the topic of several research analyst reports. Truist Financial upped their target price on shares of LendingTree from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods raised their target price 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 lowered shares of LendingTree from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Needham & Company LLC increased their price target on LendingTree from $67.00 to $78.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Oppenheimer increased their price objective 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’s stock. According to data from MarketBeat, LendingTree currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

LendingTree Stock Down 3.4 %

The company has a market cap of $522.32 million, a PE ratio of -14.48 and a beta of 2.03. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.67. The company’s 50 day moving average is $48.47 and its 200 day moving average is $49.32.

Insider Buying and Selling

In related news, CEO Douglas R. Lebda bought 13,000 shares of the stock in a transaction on Friday, December 6th. The stock was bought at an average price of $39.72 per share, for a total transaction 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 approximately $4,829,912.28. This represents a 11.97 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Heather Enlow-Novitsky sold 564 shares of LendingTree stock in a transaction on Monday, November 11th. The shares were sold at an average price of $52.54, for a total value of $29,632.56. The disclosure for this sale can be found here. 23.40% of the stock is owned by insiders.

Hedge Funds Weigh In On LendingTree

A number of institutional investors have recently bought and sold shares of the business. Lisanti Capital Growth LLC purchased a new stake in LendingTree in the 3rd quarter worth approximately $3,651,000. Emerald Mutual Fund Advisers Trust grew its position in LendingTree by 9.3% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 280,731 shares of the financial services provider’s stock valued at $11,676,000 after buying an additional 23,995 shares during the period. GSA Capital Partners LLP purchased a new position in LendingTree in the third quarter valued at $1,612,000. Polar Asset Management Partners Inc. acquired a new position in shares of LendingTree in the third quarter worth about $1,045,000. Finally, ClariVest Asset Management LLC purchased a new stake in shares of LendingTree during the 2nd quarter worth about $1,360,000. 68.26% of the stock is owned by hedge funds and other 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.