LendingTree, Inc. (NASDAQ:TREE) Sees Large Increase in Short Interest

LendingTree, Inc. (NASDAQ:TREE) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 315,600 shares, an increase of 55.5% from the October 15th total of 202,900 shares. Based on an average daily trading volume, of 218,900 shares, the days-to-cover ratio is currently 1.4 days. Currently, 2.9% of the company’s stock are sold short.

LendingTree Price Performance

Shares of TREE traded down $4.11 on Friday, hitting $44.34. The company’s stock had a trading volume of 425,366 shares, compared to its average volume of 238,969. The company has a market capitalization of $592.38 million, a PE ratio of -16.42 and a beta of 2.11. LendingTree has a fifty-two week low of $15.10 and a fifty-two week high of $62.49. The company has a 50 day moving average price of $55.00 and a 200 day moving average price of $49.92. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.92 and a quick ratio of 0.92.

Wall Street Analyst Weigh In

Several analysts recently commented on TREE shares. Truist Financial raised their target price on LendingTree from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Northland Securities upped their price target on shares of LendingTree from $50.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Susquehanna increased their price objective on LendingTree from $50.00 to $58.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Stephens raised their price objective on LendingTree from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods boosted their target price on LendingTree from $71.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $64.00.

Insider Activity at LendingTree

In other news, General Counsel Heather Enlow-Novitsky sold 564 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is available through this hyperlink. 23.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LendingTree

Several large investors have recently made changes to their positions in TREE. CWM LLC grew its holdings in LendingTree by 230.8% during the 2nd quarter. CWM LLC now owns 602 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 420 shares during the period. National Bank of Canada FI acquired a new stake in shares of LendingTree during the third quarter worth $32,000. Point72 DIFC Ltd grew its stake in shares of LendingTree by 77.0% during 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 period. nVerses Capital LLC increased its holdings in LendingTree by 200.0% in the third quarter. nVerses Capital LLC now owns 1,200 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 800 shares during the last quarter. Finally, Headlands Technologies LLC lifted its stake in LendingTree by 16.8% in the first quarter. Headlands Technologies LLC now owns 1,881 shares of the financial services provider’s stock valued at $80,000 after buying an additional 270 shares during the period. Institutional investors and hedge funds own 68.26% of the company’s stock.

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.