Short Interest in LendingTree, Inc. (NASDAQ:TREE) Increases By 168.8%

LendingTree, Inc. (NASDAQ:TREE) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 848,200 shares, a growth of 168.8% from the October 31st total of 315,600 shares. Currently, 7.8% of the company’s shares are sold short. Based on an average daily volume of 240,300 shares, the short-interest ratio is presently 3.5 days.

LendingTree Price Performance

LendingTree stock opened at $43.85 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.67. LendingTree has a 52-week low of $15.95 and a 52-week high of $62.49. The firm has a market cap of $585.84 million, a PE ratio of -16.24 and a beta of 2.11. The company’s 50 day moving average is $52.98 and its two-hundred day moving average is $49.72.

Analyst Ratings Changes

TREE has been the subject of a number of research analyst reports. StockNews.com cut LendingTree from a “buy” rating to a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods lifted their price target on shares of LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Oppenheimer upped their price objective on shares of LendingTree from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Truist Financial increased their price objective on shares of LendingTree from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC boosted their target price on LendingTree from $67.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Insiders Place Their Bets

In other LendingTree news, General Counsel Heather Enlow-Novitsky sold 564 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 23.40% of the stock is owned by insiders.

Institutional Trading of LendingTree

Several hedge funds have recently modified their holdings of TREE. Price T Rowe Associates Inc. MD increased its holdings in LendingTree by 1.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,452 shares of the financial services provider’s stock worth $697,000 after purchasing an additional 295 shares during the period. CWM LLC grew 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 buying an additional 420 shares in the last quarter. Point72 DIFC Ltd increased its stake 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 buying an additional 499 shares during the period. National Bank of Canada FI purchased a new position in LendingTree in the third quarter worth approximately $32,000. Finally, nVerses Capital LLC lifted its stake in LendingTree by 200.0% in the third quarter. nVerses Capital LLC now owns 1,200 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 800 shares during the last quarter. 68.26% of the stock is currently 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.