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

LendingTree, Inc. (NASDAQ:TREE) saw strong trading volume on Wednesday . 145,981 shares were traded 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.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Susquehanna boosted their price target on shares of LendingTree from $50.00 to $58.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Truist Financial boosted their price target on shares of LendingTree from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods upped their price objective on shares of LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Needham & Company LLC upped their price objective on shares of LendingTree from $67.00 to $78.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, StockNews.com downgraded shares of LendingTree from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, LendingTree has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

LendingTree Stock Performance

The company has a 50-day moving average price of $41.81 and a two-hundred day moving average price of $48.88. The stock has a market capitalization of $513.64 million, a P/E ratio of -14.24 and a beta of 2.06. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.67.

Insider Activity

In related news, General Counsel Heather Enlow-Novitsky sold 564 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $52.54, for a total value of $29,632.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Douglas R. Lebda acquired 13,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was bought at an average price of $39.72 per share, for a total transaction of $516,360.00. Following the completion of the transaction, the chief executive officer now 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. Company insiders own 23.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. National Bank of Canada FI bought a new position in shares of LendingTree in the third quarter worth approximately $32,000. Point72 DIFC Ltd increased its position in shares of LendingTree by 77.0% in the third quarter. Point72 DIFC Ltd now owns 1,147 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 499 shares during the last quarter. nVerses Capital LLC increased its position in shares of 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 purchasing an additional 800 shares during the last quarter. CWM LLC boosted its stake in LendingTree by 262.1% in the third quarter. CWM LLC now owns 2,180 shares of the financial services provider’s stock worth $127,000 after buying an additional 1,578 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in LendingTree in the second quarter worth approximately $132,000. 68.26% of the stock is currently owned by institutional investors.

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.