LendingTree (NASDAQ:TREE) Stock Price Down 6.9% – Should You Sell?

Shares of LendingTree, Inc. (NASDAQ:TREE) fell 6.9% on Thursday . The stock traded as low as $40.74 and last traded at $40.74. 230,930 shares were traded during mid-day trading, a decline of 8% from the average session volume of 251,333 shares. The stock had previously closed at $43.78.

Analysts Set New Price Targets

Several research firms have recently weighed in on TREE. StockNews.com lowered LendingTree from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Susquehanna lifted their price objective on LendingTree from $50.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods lifted their price objective on LendingTree from $71.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Needham & Company LLC lifted their price objective on LendingTree from $67.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Truist Financial lifted their price objective on LendingTree from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, LendingTree currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

LendingTree Price Performance

The firm has a market capitalization of $544.95 million, a P/E ratio of -16.21 and a beta of 2.03. The business has a 50-day moving average of $49.66 and a 200 day moving average of $49.40. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.67.

Insider Activity at LendingTree

In other LendingTree news, General Counsel Heather Enlow-Novitsky sold 564 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $52.54, for a total transaction of $29,632.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas R. Lebda acquired 13,000 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were bought at an average cost of $39.72 per share, with a total value of $516,360.00. Following the completion of the acquisition, the chief executive officer now directly owns 121,599 shares in the company, valued at approximately $4,829,912.28. This represents a 11.97 % increase in their position. The disclosure for this purchase can be found here. 23.40% of the stock is currently owned by corporate insiders.

Institutional Trading of LendingTree

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TREE. CWM LLC boosted its stake in shares of LendingTree by 230.8% in the 2nd quarter. CWM LLC now owns 602 shares of the financial services provider’s stock worth $25,000 after buying an additional 420 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of LendingTree by 297.2% in the 2nd quarter. SG Americas Securities LLC now owns 11,797 shares of the financial services provider’s stock worth $491,000 after buying an additional 8,827 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of LendingTree in the 2nd quarter worth approximately $8,380,000. Bank of New York Mellon Corp boosted its stake in shares of LendingTree by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 40,268 shares of the financial services provider’s stock worth $1,675,000 after buying an additional 2,830 shares during the last quarter. Finally, Versor Investments LP purchased a new position in shares of LendingTree in the 2nd quarter worth approximately $204,000. 68.26% of the stock is owned by institutional investors.

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.