LendingTree (NASDAQ:TREE) Reaches New 52-Week High – Here’s Why

LendingTree, Inc. (NASDAQ:TREE) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $62.86 and last traded at $62.86, with a volume of 2280 shares traded. The stock had previously closed at $60.24.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TREE shares. Needham & Company LLC lifted their target price on shares of LendingTree from $56.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com downgraded LendingTree from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Oppenheimer increased their target price on LendingTree from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Truist Financial lifted their target price on LendingTree from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Northland Securities upped their price target on LendingTree from $50.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.13.

LendingTree Price Performance

The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.82 and a current ratio of 1.82. The firm has a fifty day simple moving average of $54.15 and a two-hundred day simple moving average of $47.46. The firm has a market cap of $838.55 million, a PE ratio of -6.15 and a beta of 2.12.

LendingTree (NASDAQ:TREE) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.19). The business had revenue of $210.10 million during the quarter, compared to analysts’ expectations of $187.41 million. LendingTree had a negative net margin of 19.02% and a negative return on equity of 2.98%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the business posted $0.43 earnings per share. Equities analysts predict that LendingTree, Inc. will post -0.36 EPS for the current fiscal year.

Institutional Trading of LendingTree

Several hedge funds have recently made changes to their positions in the business. CWM LLC increased its position 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 purchasing an additional 420 shares during the last quarter. Headlands Technologies LLC increased its position in LendingTree by 16.8% during the first quarter. Headlands Technologies LLC now owns 1,881 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 270 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of LendingTree in the second quarter valued at $132,000. Meeder Asset Management Inc. bought a new stake in shares of LendingTree in the 2nd quarter worth about $139,000. Finally, Versor Investments LP bought a new stake in shares of LendingTree in the 2nd quarter worth about $204,000. 68.26% of the stock is currently 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.