LendingTree, Inc. (NASDAQ:TREE) Sees Large Drop in Short Interest

LendingTree, Inc. (NASDAQ:TREE) saw a large decline in short interest in March. As of March 15th, there was short interest totalling 365,300 shares, a decline of 23.3% from the February 28th total of 476,200 shares. Based on an average trading volume of 258,900 shares, the days-to-cover ratio is presently 1.4 days. Approximately 3.4% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TREE shares. Needham & Company LLC dropped their price objective on shares of LendingTree from $78.00 to $65.00 and set a “buy” rating on the stock in a research report 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. Keefe, Bruyette & Woods lowered their price objective on LendingTree from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Stephens reissued an “overweight” rating and set a $69.00 target price on shares of LendingTree in a research report on Thursday, March 6th. Finally, StockNews.com raised LendingTree from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 18th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $65.75.

Insider Buying and Selling at LendingTree

In related news, COO Scott Peyree acquired 9,794 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was acquired at an average price of $46.13 per share, for a total transaction of $451,797.22. Following the purchase, the chief operating officer now owns 97,566 shares of the company’s stock, valued at $4,500,719.58. This represents a 11.16 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LendingTree

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Asset Management One Co. Ltd. grew its stake in shares of LendingTree by 101.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,027 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 1,021 shares during the last quarter. Versor Investments LP acquired a new stake in shares of LendingTree during the fourth quarter worth $298,000. Proficio Capital Partners LLC acquired a new position in LendingTree in the 4th quarter valued at $899,000. Polar Asset Management Partners Inc. acquired a new position in shares of LendingTree during the third quarter worth about $1,045,000. Finally, Barclays PLC lifted its position in LendingTree by 301.5% in the third quarter. Barclays PLC now owns 21,409 shares of the financial services provider’s stock valued at $1,244,000 after purchasing an additional 16,077 shares during the period. Hedge funds and other institutional investors own 68.26% of the company’s stock.

LendingTree Stock Performance

LendingTree stock traded up $0.29 during midday trading on Wednesday, hitting $53.05. 44,925 shares of the company’s stock were exchanged, compared to its average volume of 233,874. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $710.61 million, a price-to-earnings ratio of -19.55 and a beta of 1.90. LendingTree has a 12-month low of $33.58 and a 12-month high of $62.49. The firm’s 50 day simple moving average is $46.04 and its 200 day simple moving average is $47.02.

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.