LendingTree (NASDAQ:TREE) Shares Gap Up – What’s Next?

LendingTree, Inc. (NASDAQ:TREE) shares gapped up before the market opened on Monday . The stock had previously closed at $41.45, but opened at $42.90. LendingTree shares last traded at $46.83, with a volume of 137,776 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Susquehanna lifted 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 lifted their price objective on shares of LendingTree from $67.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com downgraded shares of LendingTree from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Keefe, Bruyette & Woods lifted their target price on shares of LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Truist Financial boosted their price target 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. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, LendingTree presently has an average rating of “Moderate Buy” and an average price target of $64.00.

LendingTree Price Performance

The firm has a market cap of $620.04 million, a PE ratio of -17.19 and a beta of 2.06. The company has a 50 day moving average price of $40.58 and a 200 day moving average price of $48.88. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.67.

Insiders Place Their Bets

In related news, General Counsel Heather Enlow-Novitsky sold 564 shares of LendingTree 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Scott V. Totman bought 3,750 shares of the stock in a transaction on Friday, December 6th. The shares were bought at an average price of $38.59 per share, for a total transaction of $144,712.50. Following the acquisition, the chief technology officer now owns 18,192 shares in the company, valued at $702,029.28. The trade was a 25.97 % increase in their position. The disclosure for this purchase can be found here. 23.40% of the stock is owned by company insiders.

Institutional Trading of LendingTree

Several institutional investors and hedge funds have recently made changes to their positions in TREE. Point72 DIFC Ltd boosted its position in 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 acquiring an additional 499 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of LendingTree during the third quarter worth $32,000. nVerses Capital LLC grew its position in shares of 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 period. CWM LLC increased its stake in LendingTree by 262.1% in the third quarter. CWM LLC now owns 2,180 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 1,578 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in LendingTree by 5.2% during the third quarter. Empowered Funds LLC now owns 35,218 shares of the financial services provider’s stock worth $2,044,000 after buying an additional 1,742 shares during the period. 68.26% of the stock is currently owned by hedge funds and other 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.