LendingTree, Inc. (NASDAQ:TREE) Given Consensus Rating of “Buy” by Brokerages

Shares of LendingTree, Inc. (NASDAQ:TREE) have been assigned a consensus rating of “Buy” from the nine analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $65.3750.

Several brokerages have commented on TREE. Wall Street Zen lowered shares of LendingTree from a “strong-buy” rating to a “buy” rating in a research note on Monday. Needham & Company LLC raised their price target on shares of LendingTree from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Truist Financial set a $62.00 price target on shares of LendingTree and gave the company a “buy” rating in a research note on Monday, August 4th.

LendingTree Price Performance

Shares of NASDAQ:TREE opened at $62.43 on Friday. The firm’s 50 day moving average is $44.32 and its two-hundred day moving average is $43.78. LendingTree has a 52 week low of $33.50 and a 52 week high of $65.42. The firm has a market capitalization of $850.30 million, a P/E ratio of -15.38 and a beta of 1.58. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 3.26.

LendingTree (NASDAQ:TREE) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.09 by $0.04. LendingTree had a negative net margin of 5.33% and a positive return on equity of 25.79%. The company had revenue of $250.10 million for the quarter, compared to analyst estimates of $244.03 million. The business’s revenue was up 19.0% compared to the same quarter last year. Analysts anticipate that LendingTree will post 0.48 earnings per share for the current year.

Insider Activity

In other news, General Counsel Heather Enlow-Novitsky sold 1,250 shares of LendingTree stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $36.24, for a total transaction of $45,300.00. Following the transaction, the general counsel directly owned 2,028 shares in the company, valued at approximately $73,494.72. This trade represents a 38.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 23.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On LendingTree

Hedge funds have recently modified their holdings of the company. Marshall Wace LLP acquired a new position in shares of LendingTree during the 4th quarter valued at $956,000. Raymond James Financial Inc. acquired a new position in shares of LendingTree during the 4th quarter valued at $1,254,000. Wealth Enhancement Advisory Services LLC boosted its holdings in LendingTree by 68.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,921 shares of the financial services provider’s stock worth $298,000 after buying an additional 2,397 shares in the last quarter. Deutsche Bank AG boosted its holdings in LendingTree by 280.6% during the fourth quarter. Deutsche Bank AG now owns 25,242 shares of the financial services provider’s stock worth $978,000 after buying an additional 18,610 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in LendingTree by 4,926.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,262 shares of the financial services provider’s stock worth $114,000 after buying an additional 2,217 shares in the last quarter. 68.26% of the stock is currently owned by institutional investors and hedge funds.

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.