StockNews.com Downgrades LendingTree (NASDAQ:TREE) to Hold

LendingTree (NASDAQ:TREE) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

TREE has been the subject of several other research reports. 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 research note on Friday, November 1st. Truist Financial upped 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. Susquehanna upped their price objective on shares of LendingTree from $50.00 to $58.00 and gave the company a “neutral” rating in a research note 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 research note on Friday, November 1st. Finally, Oppenheimer upped their price objective on shares of LendingTree from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

LendingTree Price Performance

Shares of TREE traded up $0.15 during mid-day trading on Wednesday, hitting $43.85. 151,231 shares of the company were exchanged, compared to its average volume of 241,140. LendingTree has a 1-year low of $15.95 and a 1-year high of $62.49. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.92 and a current ratio of 0.92. The company has a 50 day moving average of $52.98 and a 200-day moving average of $49.72. The stock has a market cap of $585.84 million, a price-to-earnings ratio of -16.24 and a beta of 2.11.

Insiders Place Their Bets

In other LendingTree news, General Counsel Heather Enlow-Novitsky sold 564 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $52.54, for a total transaction of $29,632.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 23.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On LendingTree

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hennessy Advisors Inc. purchased a new position in shares of LendingTree in the 2nd quarter valued at $8,380,000. Lisanti Capital Growth LLC purchased a new position in shares of LendingTree in the 3rd quarter valued at $3,651,000. Renaissance Technologies LLC grew its position in shares of LendingTree by 25.0% in the 2nd quarter. Renaissance Technologies LLC now owns 292,900 shares of the financial services provider’s stock valued at $12,182,000 after buying an additional 58,500 shares during the last quarter. Walleye Capital LLC grew its position in shares of LendingTree by 118.0% in the 3rd quarter. Walleye Capital LLC now owns 7,770 shares of the financial services provider’s stock valued at $451,000 after buying an additional 50,910 shares during the last quarter. Finally, ClariVest Asset Management LLC purchased a new position in shares of LendingTree in the 2nd quarter valued at $1,360,000. 68.26% of the stock is currently owned by institutional investors and hedge funds.

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.