Short Interest in LendingTree, Inc. (NASDAQ:TREE) Increases By 168.8%

LendingTree, Inc. (NASDAQ:TREE) was the target of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 848,200 shares, a growth of 168.8% from the October 31st total of 315,600 shares. Based on an average trading volume of 240,300 shares, the days-to-cover ratio is presently 3.5 days. Approximately 7.8% of the shares of the company are short sold.

Wall Street Analyst Weigh In

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

LendingTree Stock Performance

Shares of NASDAQ TREE traded up $0.36 during mid-day trading on Friday, hitting $44.21. The company had a trading volume of 137,502 shares, compared to its average volume of 240,692. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.67. LendingTree has a 1 year low of $17.21 and a 1 year high of $62.49. The company has a market capitalization of $590.65 million, a price-to-earnings ratio of -16.37 and a beta of 2.11. The stock’s 50-day moving average price is $52.34 and its 200-day moving average price is $49.65.

Insider Buying and Selling

In related 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 transaction of $29,632.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in shares of LendingTree by 230.8% in the second quarter. CWM LLC now owns 602 shares of the financial services provider’s stock worth $25,000 after buying an additional 420 shares in the last quarter. National Bank of Canada FI bought a new stake in LendingTree during the 3rd quarter worth approximately $32,000. 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 worth $67,000 after purchasing an additional 499 shares in the last quarter. nVerses Capital LLC lifted its stake in LendingTree by 200.0% in the 3rd 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 in the last quarter. Finally, Quest Partners LLC purchased a new stake in LendingTree in the 2nd quarter worth approximately $132,000. 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.