LendingTree (NASDAQ:TREE) Sees Strong Trading Volume – Here’s Why

LendingTree, Inc. (NASDAQ:TREE) saw unusually-high trading volume on Wednesday . Approximately 145,981 shares traded hands during mid-day trading, a decline of 16% from the previous session’s volume of 174,016 shares.The stock last traded at $39.01 and had previously closed at $36.56.

Analyst Ratings Changes

TREE has been the subject of several research reports. Oppenheimer upped their target price on LendingTree from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods upped their target price on LendingTree from $71.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. StockNews.com lowered LendingTree from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Truist Financial increased their price objective on LendingTree from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Needham & Company LLC increased their price objective on LendingTree from $67.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.00.

LendingTree Price Performance

The business has a 50 day moving average of $41.81 and a 200 day moving average of $48.88. The company has a market cap of $513.64 million, a PE ratio of -14.24 and a beta of 2.06. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.92 and a quick ratio of 0.92.

Insider Buying and Selling

In other LendingTree news, General Counsel Heather Enlow-Novitsky sold 564 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $52.54, for a total value of $29,632.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas R. Lebda acquired 13,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was purchased at an average price of $39.72 per share, with a total value of $516,360.00. Following the acquisition, the chief executive officer now owns 121,599 shares of the company’s stock, valued at $4,829,912.28. This represents a 11.97 % increase in their position. The disclosure for this purchase can be found here. 23.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LendingTree

A number of institutional investors have recently added to or reduced their stakes in TREE. Bank of New York Mellon Corp raised its holdings in LendingTree by 7.6% in the second quarter. Bank of New York Mellon Corp now owns 40,268 shares of the financial services provider’s stock worth $1,675,000 after purchasing an additional 2,830 shares in the last quarter. Quest Partners LLC bought a new position in LendingTree in the second quarter worth $132,000. American Century Companies Inc. raised its holdings in LendingTree by 30.4% in the second quarter. American Century Companies Inc. now owns 17,203 shares of the financial services provider’s stock worth $715,000 after purchasing an additional 4,010 shares in the last quarter. Renaissance Technologies LLC raised its holdings in LendingTree by 25.0% in 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 in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of LendingTree by 124.6% during the second quarter. Sei Investments Co. now owns 11,658 shares of the financial services provider’s stock valued at $485,000 after acquiring an additional 6,467 shares in the last quarter. Institutional investors own 68.26% of the company’s stock.

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.