Short Interest in LendingTree, Inc. (NASDAQ:TREE) Rises By 20.3%

LendingTree, Inc. (NASDAQ:TREE) was the recipient of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 1,020,000 shares, an increase of 20.3% from the November 15th total of 848,200 shares. Approximately 9.3% of the company’s shares are sold short. Based on an average daily trading volume, of 281,700 shares, the days-to-cover ratio is presently 3.6 days.

Analyst Upgrades and Downgrades

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

Insider Activity

In other LendingTree news, General Counsel Heather Enlow-Novitsky sold 564 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $52.54, for a total transaction of $29,632.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Scott V. Totman purchased 3,750 shares of the company’s stock in a transaction on Friday, December 6th. The shares were bought at an average price of $38.59 per share, with a total value of $144,712.50. Following the completion of the transaction, the chief technology officer now owns 18,192 shares of the company’s stock, valued at approximately $702,029.28. The trade was a 25.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 23.40% of the company’s stock.

Institutional Investors Weigh In On LendingTree

Several hedge funds have recently made changes to their positions in TREE. Lisanti Capital Growth LLC acquired a new stake in LendingTree during the 3rd quarter worth approximately $3,651,000. Emerald Mutual Fund Advisers Trust lifted its holdings in shares of LendingTree by 9.3% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 280,731 shares of the financial services provider’s stock worth $11,676,000 after purchasing an additional 23,995 shares during the period. GSA Capital Partners LLP purchased a new position in LendingTree in the 3rd quarter valued at $1,612,000. Polar Asset Management Partners Inc. acquired a new position in LendingTree in the 3rd quarter valued at $1,045,000. Finally, ClariVest Asset Management LLC purchased a new position in LendingTree during the 2nd quarter worth $1,360,000. Institutional investors and hedge funds own 68.26% of the company’s stock.

LendingTree Stock Performance

Shares of TREE stock traded down $1.07 during trading hours on Friday, hitting $39.80. The stock had a trading volume of 215,869 shares, compared to its average volume of 251,864. 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 firm has a market capitalization of $531.73 million, a PE ratio of -14.74 and a beta of 2.03. The stock’s 50 day moving average is $49.37 and its 200 day moving average is $49.34. LendingTree has a twelve month low of $24.55 and a twelve month 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.