LendingTree (NASDAQ:TREE) Shares Down 8.8% – Here’s What Happened

LendingTree, Inc. (NASDAQ:TREE) traded down 8.8% on Friday . The company traded as low as $44.14 and last traded at $44.18. 248,949 shares traded hands during mid-day trading, an increase of 5% from the average session volume of 238,177 shares. The stock had previously closed at $48.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Susquehanna boosted their price target on LendingTree from $50.00 to $58.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Oppenheimer boosted their price target on LendingTree from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods boosted their price objective on LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Truist Financial boosted their price objective on LendingTree from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Northland Securities boosted their price objective on LendingTree from $50.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $64.00.

LendingTree Stock Down 9.1 %

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 stock has a 50-day simple moving average of $55.09 and a 200-day simple moving average of $49.93. The company has a market cap of $588.64 million, a price-to-earnings ratio of -16.54 and a beta of 2.11.

Insider Transactions at LendingTree

In other news, General Counsel Heather Enlow-Novitsky sold 564 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $52.54, for a total transaction of $29,632.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 23.40% of the company’s stock.

Institutional Investors Weigh In On LendingTree

Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC raised its position in shares of 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 purchasing an additional 420 shares during the period. Point72 DIFC Ltd raised its position 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 purchasing an additional 499 shares during the period. nVerses Capital LLC raised its position in shares of LendingTree by 200.0% during the third quarter. nVerses Capital LLC now owns 1,200 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 800 shares during the period. Headlands Technologies LLC raised its position in shares of LendingTree by 16.8% during the first quarter. Headlands Technologies LLC now owns 1,881 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 270 shares during the period. Finally, Quest Partners LLC acquired a new stake in shares of LendingTree during the second quarter worth $132,000. 68.26% of the stock is owned by institutional investors and hedge funds.

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.