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

LendingTree, Inc. (NASDAQ:TREE) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 365,300 shares, a drop of 23.3% from the February 28th total of 476,200 shares. Currently, 3.4% of the shares of the stock are short sold. Based on an average trading volume of 258,900 shares, the days-to-cover ratio is presently 1.4 days.

LendingTree Trading Up 0.6 %

Shares of NASDAQ TREE traded up $0.29 during midday trading on Wednesday, reaching $53.05. 44,925 shares of the stock were exchanged, compared to its average volume of 233,874. The stock has a 50 day moving average price of $46.04 and a 200-day moving average price of $47.02. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.67. The company has a market capitalization of $710.61 million, a P/E ratio of -19.55 and a beta of 1.90. LendingTree has a 52-week low of $33.58 and a 52-week high of $62.49.

Analyst Ratings Changes

A number of research analysts have issued reports on TREE shares. JPMorgan Chase & Co. increased their target price on shares of LendingTree from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Northland Capmk raised LendingTree from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 21st. Stephens reissued an “overweight” rating and issued a $69.00 target price on shares of LendingTree in a report on Thursday, March 6th. Northland Securities raised LendingTree from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research note on Tuesday, January 21st. Finally, Needham & Company LLC lowered their price objective on shares of LendingTree from $78.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $65.75.

Insider Buying and Selling at LendingTree

In related news, COO Scott Peyree purchased 9,794 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was acquired at an average price of $46.13 per share, for a total transaction of $451,797.22. Following the acquisition, the chief operating officer now directly owns 97,566 shares of the company’s stock, valued at $4,500,719.58. This trade represents a 11.16 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 23.40% of the stock is owned by corporate insiders.

Institutional Trading of LendingTree

Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of LendingTree by 63.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,490 shares of the financial services provider’s stock valued at $561,000 after purchasing an additional 5,603 shares during the period. Squarepoint Ops LLC grew its holdings in LendingTree by 2,074.7% in the 4th quarter. Squarepoint Ops LLC now owns 107,998 shares of the financial services provider’s stock valued at $4,185,000 after buying an additional 103,032 shares during the period. Sherbrooke Park Advisers LLC purchased a new stake in LendingTree in the 4th quarter valued at about $409,000. Point72 Asset Management L.P. acquired a new position in shares of LendingTree during the 4th quarter valued at about $326,000. Finally, Man Group plc purchased a new position in shares of LendingTree during the 4th quarter worth about $324,000. 68.26% of the stock is owned by hedge funds and other 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.