HighTower Advisors LLC Invests $208,000 in LendingTree, Inc. (NASDAQ:TREE)

HighTower Advisors LLC purchased a new stake in LendingTree, Inc. (NASDAQ:TREE) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,587 shares of the financial services provider’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TREE. nVerses Capital LLC boosted its position in LendingTree by 200.0% during the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 800 shares during the period. CWM LLC boosted its holdings in shares of LendingTree by 262.1% during 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 during the period. Quest Partners LLC purchased a new position in LendingTree during the second quarter valued at approximately $132,000. Meeder Asset Management Inc. acquired a new position in LendingTree in the 2nd quarter valued at approximately $139,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in LendingTree in the 3rd quarter worth approximately $203,000. Institutional investors and hedge funds own 68.26% of the company’s stock.

LendingTree Price Performance

NASDAQ:TREE opened at $38.44 on Thursday. 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 firm has a market cap of $513.64 million, a PE ratio of -14.24 and a beta of 2.03. LendingTree, Inc. has a 12 month low of $24.55 and a 12 month high of $62.49. The company’s 50-day moving average price is $46.47 and its two-hundred day moving average price is $49.19.

Insider Buying and Selling at LendingTree

In related news, CEO Douglas R. Lebda acquired 13,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was acquired at an average cost of $39.72 per share, with a total value of $516,360.00. Following the completion of the purchase, the chief executive officer now directly owns 121,599 shares in the company, valued at approximately $4,829,912.28. This trade represents a 11.97 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Scott V. Totman bought 3,750 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were bought at an average price of $38.59 per share, with a total value of $144,712.50. Following the completion of the transaction, the chief technology officer now directly owns 18,192 shares in the company, valued at approximately $702,029.28. This trade 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.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Susquehanna raised their price objective on shares of LendingTree from $50.00 to $58.00 and gave the company a “neutral” rating in a research 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 report on Friday, November 1st. Needham & Company LLC boosted their price target on LendingTree from $67.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Truist Financial upped their price target on LendingTree from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Keefe, Bruyette & Woods raised their price objective on LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, LendingTree presently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

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.