LendingTree, Inc. (NASDAQ:TREE) Sees Significant Decrease in Short Interest

LendingTree, Inc. (NASDAQ:TREE) was the target of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 678,300 shares, a decrease of 42.0% from the December 15th total of 1,170,000 shares. Approximately 6.2% of the shares of the company are short sold. Based on an average daily trading volume, of 312,800 shares, the short-interest ratio is presently 2.2 days.

Analyst Upgrades and Downgrades

Several research firms have commented on TREE. Susquehanna upped their target price on shares of LendingTree from $50.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. StockNews.com lowered LendingTree from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Oppenheimer lifted their target price on LendingTree from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Needham & Company LLC increased their price target on LendingTree from $67.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Truist Financial lifted their price objective on shares of LendingTree from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, LendingTree has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Insider Activity at LendingTree

In related news, General Counsel Heather Enlow-Novitsky sold 564 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas R. Lebda bought 13,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was bought at an average cost of $39.72 per share, for a total transaction of $516,360.00. Following the completion of the transaction, the chief executive officer now directly owns 121,599 shares of the company’s stock, valued at $4,829,912.28. This trade represents a 11.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 23.40% of the company’s stock.

Institutional Investors Weigh In On LendingTree

Hedge funds and other institutional investors have recently bought and sold shares of the business. National Bank of Canada FI acquired a new position in shares of LendingTree in the 3rd quarter worth approximately $32,000. Point72 DIFC Ltd boosted its holdings in 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 in the last quarter. nVerses Capital LLC grew its position 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 buying an additional 800 shares during the last quarter. CWM LLC increased its holdings in shares of LendingTree by 262.1% in the third quarter. CWM LLC now owns 2,180 shares of the financial services provider’s stock valued at $127,000 after buying an additional 1,578 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of LendingTree during the 2nd quarter valued at $132,000. 68.26% of the stock is currently owned by institutional investors.

LendingTree Price Performance

Shares of TREE traded up $1.96 during midday trading on Wednesday, reaching $38.52. The stock had a trading volume of 339,232 shares, compared to its average volume of 204,004. 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 $514.70 million, a P/E ratio of -14.27 and a beta of 2.06. The firm’s 50 day moving average price is $41.60 and its 200-day moving average price is $48.80. LendingTree has a 52 week low of $24.55 and a 52 week high of $62.49.

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.