LendingTree (NASDAQ:TREE) Trading Down 6.3% – Here’s Why

LendingTree, Inc. (NASDAQ:TREE) fell 6.3% during mid-day trading on Friday . The stock traded as low as $39.69 and last traded at $39.64. 71,928 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 255,795 shares. The stock had previously closed at $42.29.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TREE shares. StockNews.com downgraded shares of LendingTree from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Northland Capmk raised shares of LendingTree from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods cut their target price on LendingTree from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. JPMorgan Chase & Co. increased their price target on LendingTree from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Finally, Stephens reissued an “overweight” rating and issued a $69.00 price objective on shares of LendingTree in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $65.75.

LendingTree Price Performance

The firm has a 50 day moving average price of $46.06 and a two-hundred day moving average price of $46.34. The company has a market cap of $544.47 million, a P/E ratio of -15.00 and a beta of 1.90. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.92 and a current ratio of 0.92.

Insiders Place Their Bets

In other news, COO Scott Peyree bought 9,794 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $46.13 per share, with a total value of $451,797.22. Following the acquisition, the chief operating officer now owns 97,566 shares of the company’s stock, valued at approximately $4,500,719.58. The trade was a 11.16 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 23.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Asset Management One Co. Ltd. boosted its stake in LendingTree by 101.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,027 shares of the financial services provider’s stock valued at $80,000 after buying an additional 1,021 shares during the period. Versor Investments LP bought a new stake in shares of LendingTree during the 4th quarter valued at about $298,000. Proficio Capital Partners LLC purchased a new position in shares of LendingTree during the fourth quarter worth about $899,000. Charles Schwab Investment Management Inc. increased its position in shares of LendingTree by 6.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 93,483 shares of the financial services provider’s stock worth $3,622,000 after purchasing an additional 5,277 shares during the last quarter. Finally, Barclays PLC raised its stake in LendingTree by 301.5% in the third quarter. Barclays PLC now owns 21,409 shares of the financial services provider’s stock valued at $1,244,000 after purchasing an additional 16,077 shares in the last quarter. 68.26% of the stock is currently owned by hedge funds and other institutional investors.

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.