LendingTree, Inc. (NASDAQ:TREE) Short Interest Down 42.0% in January

LendingTree, Inc. (NASDAQ:TREE) saw a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 678,300 shares, a decrease of 42.0% from the December 31st total of 1,170,000 shares. Based on an average daily trading volume, of 312,800 shares, the days-to-cover ratio is currently 2.2 days. Approximately 6.2% of the company’s stock are short sold.

Insider Activity

In other LendingTree news, CEO Douglas R. Lebda acquired 13,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was purchased at an average price 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 $4,829,912.28. This trade represents a 11.97 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Heather Enlow-Novitsky sold 564 shares of LendingTree stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $52.54, for a total value of $29,632.56. The disclosure for this sale can be found here. Company insiders own 23.40% of the company’s stock.

Hedge Funds Weigh In On LendingTree

Several institutional investors and hedge funds have recently bought and sold shares of TREE. National Bank of Canada FI purchased a new stake in LendingTree in the 3rd quarter worth approximately $32,000. Point72 DIFC Ltd grew its stake in LendingTree by 77.0% in the third quarter. Point72 DIFC Ltd now owns 1,147 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 499 shares in the last quarter. nVerses Capital LLC increased its position 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 during the last quarter. CWM LLC raised its stake in shares of LendingTree by 262.1% during the 3rd quarter. CWM LLC now owns 2,180 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 1,578 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of LendingTree during the 3rd quarter valued at about $203,000. Hedge funds and other institutional investors own 68.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TREE shares. Truist Financial increased their price objective on shares of LendingTree from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Susquehanna boosted 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. StockNews.com cut LendingTree from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Northland Securities upgraded LendingTree from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research report on Tuesday, January 21st. Finally, Oppenheimer lifted their price objective 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. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

LendingTree Trading Down 1.5 %

NASDAQ TREE traded down $0.72 on Wednesday, hitting $45.92. 356,498 shares of the stock were exchanged, compared to its average volume of 270,678. The company’s 50-day moving average price is $40.83 and its two-hundred day moving average price is $48.89. The company has a market capitalization of $613.58 million, a price-to-earnings ratio of -17.01 and a beta of 2.06. LendingTree has a 52-week low of $28.50 and a 52-week high of $62.49. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.92 and a quick ratio of 0.92.

About LendingTree

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.