LendingTree (NASDAQ:TREE) Cut to Hold at StockNews.com

StockNews.com cut shares of LendingTree (NASDAQ:TREE) from a buy rating to a hold rating in a research note published on Wednesday.

TREE has been the subject of several other research reports. Susquehanna upped their price target on shares of LendingTree from $42.00 to $50.00 and gave the stock a neutral rating in a research report on Friday, July 26th. Oppenheimer upped their price target on shares of LendingTree from $55.00 to $65.00 and gave the stock an outperform rating in a research report on Tuesday, July 30th. Northland Securities upped their price target on shares of LendingTree from $50.00 to $60.00 and gave the stock a market perform rating in a research report on Friday, July 26th. Truist Financial increased their target price on shares of LendingTree from $55.00 to $60.00 and gave the company a buy rating in a research report on Friday, July 26th. Finally, Needham & Company LLC increased their target price on shares of LendingTree from $56.00 to $67.00 and gave the company a buy rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $58.13.

LendingTree Price Performance

LendingTree stock opened at $60.24 on Wednesday. The stock has a market cap of $803.60 million, a price-to-earnings ratio of -6.15 and a beta of 2.12. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.82 and a quick ratio of 1.82. LendingTree has a 1 year low of $10.12 and a 1 year high of $62.27. The firm has a 50-day moving average of $53.90 and a two-hundred day moving average of $47.28.

LendingTree (NASDAQ:TREE) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.19). LendingTree had a negative return on equity of 2.98% and a negative net margin of 19.02%. The business had revenue of $210.10 million during the quarter, compared to analysts’ expectations of $187.41 million. During the same period in the previous year, the company posted $0.43 EPS. LendingTree’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, research analysts forecast that LendingTree will post -0.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TREE. Hennessy Advisors Inc. purchased a new position in shares of LendingTree during the second quarter worth $8,380,000. Blue Grotto Capital LLC purchased a new position in shares of LendingTree during the fourth quarter worth $4,930,000. Acadian Asset Management LLC raised 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 worth $10,868,000 after purchasing an additional 89,900 shares during the last quarter. Renaissance Technologies LLC raised 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 worth $12,182,000 after purchasing an additional 58,500 shares during the last quarter. Finally, ClariVest Asset Management LLC purchased a new position in shares of LendingTree during the second quarter worth $1,360,000. Institutional investors and hedge funds 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.