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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TREE shares. Keefe, Bruyette & Woods boosted their price target on LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Oppenheimer upped their price target on LendingTree from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. 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. StockNews.com downgraded shares of LendingTree from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Finally, Susquehanna lifted their price target on shares of LendingTree from $50.00 to $58.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

Insider Buying and Selling at LendingTree

In related news, CTO Scott V. Totman bought 3,750 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average cost 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Douglas R. Lebda purchased 13,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were bought at an average cost of $39.72 per share, with a total value of $516,360.00. Following the transaction, the chief executive officer now directly owns 121,599 shares of the company’s stock, valued at $4,829,912.28. The trade was a 11.97 % increase in their position. The disclosure for this purchase can be found here. 23.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On LendingTree

A number of institutional investors have recently modified their holdings of the stock. Hennessy Advisors Inc. grew its stake in LendingTree by 6.8% in the fourth quarter. Hennessy Advisors Inc. now owns 242,400 shares of the financial services provider’s stock worth $9,393,000 after purchasing an additional 15,400 shares in the last quarter. Barclays PLC lifted its holdings in LendingTree by 301.5% during the 3rd quarter. Barclays PLC now owns 21,409 shares of the financial services provider’s stock worth $1,244,000 after buying an additional 16,077 shares during the last quarter. Geode Capital Management LLC grew its position in shares of LendingTree by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 253,208 shares of the financial services provider’s stock worth $14,697,000 after acquiring an additional 2,595 shares in the last quarter. National Bank of Canada FI bought a new stake in shares of LendingTree in the 3rd quarter valued at approximately $32,000. Finally, Point72 DIFC Ltd raised its position in shares of LendingTree by 77.0% during the 3rd quarter. Point72 DIFC Ltd now owns 1,147 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 499 shares in the last quarter. Institutional investors and hedge funds own 68.26% of the company’s stock.

LendingTree Stock Up 5.4 %

TREE traded up $1.96 during trading on Wednesday, hitting $38.52. The company had a trading volume of 339,232 shares, compared to its average volume of 204,004. LendingTree has a 1-year low of $24.55 and a 1-year high of $62.49. 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 cap of $514.70 million, a PE ratio of -14.27 and a beta of 2.06. The business has a 50-day moving average of $41.60 and a 200-day moving average of $48.80.

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.