LendingTree (NASDAQ:TREE) Sees Unusually-High Trading Volume After Analyst Upgrade

LendingTree, Inc. (NASDAQ:TREE) shares saw strong trading volume on Friday after Keefe, Bruyette & Woods raised their price target on the stock from $71.00 to $73.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. 156,992 shares traded hands during mid-day trading, a decline of 30% from the previous session’s volume of 224,203 shares.The stock last traded at $48.75 and had previously closed at $57.03.

Other analysts have also recently issued reports about the stock. Northland Securities raised their target price on shares of LendingTree from $50.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Truist Financial increased their target price on shares of LendingTree from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday. Susquehanna lifted their price target on LendingTree from $50.00 to $58.00 and gave the company a “neutral” rating in a report on Friday. StockNews.com raised shares of LendingTree from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Stephens boosted their target price on LendingTree from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, LendingTree presently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. lifted its position in shares of LendingTree by 6.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 364,173 shares of the financial services provider’s stock worth $15,419,000 after buying an additional 22,581 shares during the period. Emerald Advisers LLC grew its holdings in LendingTree by 3.0% during the third quarter. Emerald Advisers LLC now owns 356,389 shares of the financial services provider’s stock valued at $20,681,000 after purchasing an additional 10,497 shares during the period. Renaissance Technologies LLC boosted its position in shares of LendingTree by 25.0% during the second quarter. Renaissance Technologies LLC now owns 292,900 shares of the financial services provider’s stock worth $12,182,000 after purchasing an additional 58,500 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its stake in LendingTree by 9.3% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 280,731 shares of the financial services provider’s stock valued at $11,676,000 after acquiring an additional 23,995 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of LendingTree by 53.9% in the 1st quarter. Acadian Asset Management LLC now owns 256,719 shares of the financial services provider’s stock valued at $10,868,000 after purchasing an additional 89,900 shares during the period. Institutional investors own 68.26% of the company’s stock.

LendingTree Price Performance

The company’s 50-day moving average price is $56.66 and its 200-day moving average price is $49.02. The company has a market cap of $602.39 million, a P/E ratio of -4.84 and a beta of 2.12. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.82 and a quick ratio of 1.82.

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.