LendingTree (NASDAQ:TREE) Shares Down 8.8% – Here’s What Happened

LendingTree, Inc. (NASDAQ:TREE) shares were down 8.8% during mid-day trading on Friday . The stock traded as low as $44.14 and last traded at $44.18. Approximately 248,949 shares changed hands during trading, an increase of 5% from the average daily volume of 238,177 shares. The stock had previously closed at $48.45.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TREE shares. Northland Securities upped their price target on LendingTree from $50.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Needham & Company LLC increased their target price on LendingTree from $67.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Susquehanna increased their target price on LendingTree from $50.00 to $58.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. StockNews.com upgraded LendingTree from a “hold” rating to a “buy” rating in a research note on Sunday, November 10th. Finally, Stephens increased their target price on LendingTree from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, LendingTree presently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

LendingTree Stock Performance

The firm has a fifty day simple moving average of $55.09 and a 200 day simple moving average of $49.93. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.67. The stock has a market cap of $588.64 million, a price-to-earnings ratio of -16.54 and a beta of 2.11.

Insider Buying and Selling

In related news, General Counsel Heather Enlow-Novitsky sold 564 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $52.54, for a total transaction of $29,632.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LendingTree

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. raised its position in LendingTree by 6.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 364,173 shares of the financial services provider’s stock valued at $15,419,000 after purchasing an additional 22,581 shares during the last quarter. Emerald Advisers LLC raised its position in LendingTree by 3.0% in the 3rd 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 last quarter. Renaissance Technologies LLC raised its position in LendingTree by 25.0% in the 2nd quarter. Renaissance Technologies LLC now owns 292,900 shares of the financial services provider’s stock valued at $12,182,000 after purchasing an additional 58,500 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in LendingTree by 9.3% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 280,731 shares of the financial services provider’s stock valued at $11,676,000 after purchasing an additional 23,995 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in 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 last quarter. Institutional investors own 68.26% of the company’s stock.

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.