Short Interest in LendingTree, Inc. (NASDAQ:TREE) Declines By 42.0%

LendingTree, Inc. (NASDAQ:TREE) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totalling 678,300 shares, a decline of 42.0% from the December 15th total of 1,170,000 shares. Based on an average daily volume of 312,800 shares, the short-interest ratio is currently 2.2 days. Currently, 6.2% of the shares of the stock are short sold.

LendingTree Stock Up 4.5 %

Shares of LendingTree stock traded up $1.72 during trading hours on Thursday, hitting $40.24. 160,512 shares of the company’s stock traded hands, compared to its average volume of 197,063. LendingTree has a twelve month low of $24.55 and a twelve month high of $62.49. The stock has a 50 day simple moving average of $41.60 and a 200-day simple moving average of $48.80. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.67. The company has a market cap of $537.69 million, a PE ratio of -14.90 and a beta of 2.06.

Analyst Ratings Changes

A number of analysts have issued reports on TREE shares. Needham & Company LLC lifted their price target on LendingTree from $67.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Oppenheimer increased their target price on shares of LendingTree from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Susquehanna raised their target price on shares of LendingTree from $50.00 to $58.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods lifted their price target on LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, StockNews.com downgraded shares of LendingTree from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Three 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

Insider Transactions at LendingTree

In related news, CEO Douglas R. Lebda bought 13,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average price of $39.72 per share, for a total transaction of $516,360.00. Following the acquisition, the chief executive officer now owns 121,599 shares of the company’s stock, valued at approximately $4,829,912.28. This trade represents a 11.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Scott V. Totman bought 3,750 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were purchased at an average cost of $38.59 per share, for a total transaction of $144,712.50. Following the purchase, the chief technology officer now owns 18,192 shares in the company, valued at $702,029.28. This represents a 25.97 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 23.40% of the company’s stock.

Hedge Funds Weigh In On LendingTree

Several institutional investors and hedge funds have recently made changes to their positions in TREE. Point72 DIFC Ltd raised its holdings 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 acquiring an additional 499 shares in the last quarter. National Bank of Canada FI bought a new stake in shares of LendingTree in the 3rd quarter worth about $32,000. nVerses Capital LLC lifted its position in shares of LendingTree by 200.0% during the third 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 grew 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 worth $127,000 after purchasing an additional 1,578 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in LendingTree by 5.2% during the third quarter. Empowered Funds LLC now owns 35,218 shares of the financial services provider’s stock valued at $2,044,000 after buying an additional 1,742 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.