LendingTree (NASDAQ:TREE) Sees Unusually-High Trading Volume – Here’s Why

Shares of LendingTree, Inc. (NASDAQ:TREE) saw an uptick in trading volume on Wednesday . 145,981 shares were traded during 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.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial lifted their price objective on shares of LendingTree from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Needham & Company LLC increased their target price on LendingTree from $67.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Oppenheimer lifted their price target 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. Susquehanna upped their price objective 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. Finally, Keefe, Bruyette & Woods upped their target price on LendingTree from $71.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, LendingTree presently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

LendingTree Trading Up 4.6 %

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 fifty day simple moving average of $41.44 and a 200-day simple moving average of $48.75. The company has a market capitalization of $538.27 million, a PE ratio of -14.92 and a beta of 2.06.

Insider Buying and Selling at LendingTree

In related news, CEO Douglas R. Lebda acquired 13,000 shares of LendingTree stock in a transaction dated Friday, December 6th. The shares were acquired at an average cost of $39.72 per share, for a total transaction of $516,360.00. Following the completion of the purchase, the chief executive officer now owns 121,599 shares in the company, valued at approximately $4,829,912.28. The trade was a 11.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Scott V. Totman purchased 3,750 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average price of $38.59 per share, with a total value of $144,712.50. Following the purchase, the chief technology officer now directly owns 18,192 shares of the company’s stock, valued at $702,029.28. The trade was a 25.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 23.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Hennessy Advisors Inc. raised its position in LendingTree by 6.8% during the 4th quarter. Hennessy Advisors Inc. now owns 242,400 shares of the financial services provider’s stock worth $9,393,000 after buying an additional 15,400 shares during the last quarter. Barclays PLC raised its holdings in LendingTree by 301.5% during the third quarter. Barclays PLC now owns 21,409 shares of the financial services provider’s stock worth $1,244,000 after purchasing an additional 16,077 shares during the last quarter. Geode Capital Management LLC boosted 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 buying an additional 2,595 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of LendingTree in the third quarter valued at about $32,000. Finally, Point72 DIFC Ltd lifted its stake in LendingTree by 77.0% in the 3rd quarter. Point72 DIFC Ltd now owns 1,147 shares of the financial services provider’s stock valued at $67,000 after buying an additional 499 shares in the last quarter. Hedge funds and other institutional investors 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.