LendingTree (NASDAQ:TREE) Trading Up 4.6% – What’s Next?

LendingTree, Inc. (NASDAQ:TREE) rose 4.6% during mid-day trading on Thursday . The stock traded as high as $52.20 and last traded at $51.74. Approximately 112,502 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 230,582 shares. The stock had previously closed at $49.44.

Wall Street Analysts Forecast Growth

TREE has been the topic of several analyst reports. Keefe, Bruyette & Woods reduced their price objective on LendingTree from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Needham & Company LLC reduced their price objective on LendingTree from $78.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Northland Capmk upgraded LendingTree from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on LendingTree from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Finally, Northland Securities upgraded LendingTree from a “market perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $65.75.

LendingTree Stock Performance

The company has a debt-to-equity ratio of 3.67, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $696.89 million, a price-to-earnings ratio of -19.08 and a beta of 2.14. The stock has a 50 day simple moving average of $43.59 and a two-hundred day simple moving average of $47.16.

Insiders Place Their Bets

In other news, COO Scott Peyree acquired 9,794 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $46.13 per share, with a total value of $451,797.22. Following the completion of the acquisition, the chief operating officer now owns 97,566 shares in the company, valued at $4,500,719.58. This trade represents a 11.16 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 23.40% of the company’s stock.

Hedge Funds Weigh In On LendingTree

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Asset Management One Co. Ltd. grew its holdings in shares of LendingTree by 101.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,027 shares of the financial services provider’s stock worth $80,000 after buying an additional 1,021 shares during the last quarter. Versor Investments LP purchased a new position in shares of LendingTree during the fourth quarter worth about $298,000. Proficio Capital Partners LLC purchased a new position in shares of LendingTree during the fourth quarter worth about $899,000. Polar Asset Management Partners Inc. purchased a new position in shares of LendingTree during the third quarter worth about $1,045,000. Finally, Barclays PLC grew its holdings in shares of LendingTree by 301.5% during the third quarter. Barclays PLC now owns 21,409 shares of the financial services provider’s stock worth $1,244,000 after buying an additional 16,077 shares during the last quarter. Hedge funds and other institutional investors own 68.26% of the company’s stock.

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.