LendingTree (NASDAQ:TREE) Shares Down 5.6% Following Analyst Downgrade

LendingTree, Inc. (NASDAQ:TREE)’s share price traded down 5.6% during trading on Friday after Keefe, Bruyette & Woods lowered their price target on the stock from $73.00 to $66.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. LendingTree traded as low as $46.61 and last traded at $46.56. 42,374 shares traded hands during trading, a decline of 81% from the average session volume of 228,521 shares. The stock had previously closed at $49.34.

Several other equities research analysts also recently commented on TREE. Needham & Company LLC reduced their target price on shares of LendingTree from $78.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday. Northland Securities raised shares of LendingTree from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a report on Tuesday, January 21st. Northland Capmk upgraded LendingTree from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. Finally, StockNews.com upgraded LendingTree from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $65.75.

Hedge Funds Weigh In On LendingTree

A number of large investors have recently modified their holdings of TREE. Creative Planning acquired a new position in LendingTree during the third quarter valued at approximately $356,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of LendingTree during the 3rd quarter worth approximately $203,000. Lisanti Capital Growth LLC acquired a new stake in shares of LendingTree in the 3rd quarter valued at approximately $3,651,000. GSA Capital Partners LLP acquired a new position in LendingTree during the third quarter worth $1,612,000. Finally, Intellectus Partners LLC lifted its stake in LendingTree by 58.2% in the third quarter. Intellectus Partners LLC now owns 19,375 shares of the financial services provider’s stock valued at $1,124,000 after acquiring an additional 7,125 shares during the last quarter. 68.26% of the stock is currently owned by institutional investors and hedge funds.

LendingTree Trading Down 4.2 %

The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.92 and a current ratio of 0.92. The business’s 50-day moving average price is $42.20 and its 200 day moving average price is $47.79. The company has a market cap of $631.68 million, a P/E ratio of -17.55 and a beta of 2.07.

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.