Truist Financial Issues Positive Forecast for LendingTree (NASDAQ:TREE) Stock Price

LendingTree (NASDAQ:TREE) had its price objective upped by Truist Financial from $60.00 to $70.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other research firms have also recently commented on TREE. Northland Securities boosted 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. Stephens upped their price objective on LendingTree from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. StockNews.com upgraded LendingTree from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Susquehanna upped their price objective on LendingTree from $50.00 to $58.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Oppenheimer upped their price objective on LendingTree from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday. Three 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $64.00.

LendingTree Stock Down 20.8 %

Shares of NASDAQ:TREE traded down $11.88 during trading on Friday, hitting $45.15. The company’s stock had a trading volume of 1,610,221 shares, compared to its average volume of 165,628. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.82 and a current ratio of 1.82. LendingTree has a fifty-two week low of $13.87 and a fifty-two week high of $62.49. The stock’s 50-day moving average price is $56.42 and its two-hundred day moving average price is $49.09. The company has a market capitalization of $602.30 million, a PE ratio of -16.72 and a beta of 2.11.

Hedge Funds Weigh In On LendingTree

Several institutional investors have recently made changes to their positions in TREE. Hennessy Advisors Inc. bought a new position in shares of LendingTree during the second quarter valued at approximately $8,380,000. Acadian Asset Management LLC grew its holdings in shares of LendingTree by 53.9% during the first quarter. Acadian Asset Management LLC now owns 256,719 shares of the financial services provider’s stock valued at $10,868,000 after purchasing an additional 89,900 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of LendingTree by 25.0% during the second quarter. Renaissance Technologies LLC now owns 292,900 shares of the financial services provider’s stock valued at $12,182,000 after purchasing an additional 58,500 shares during the last quarter. ClariVest Asset Management LLC bought a new position in LendingTree in the 2nd quarter worth approximately $1,360,000. Finally, Emerald Mutual Fund Advisers Trust grew its holdings in LendingTree by 9.3% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 280,731 shares of the financial services provider’s stock worth $11,676,000 after buying an additional 23,995 shares in the last quarter. 68.26% of the stock is owned by institutional investors.

LendingTree Company Profile

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.