Hennessy Advisors Inc. Buys 15,400 Shares of LendingTree, Inc. (NASDAQ:TREE)

Hennessy Advisors Inc. increased its stake in LendingTree, Inc. (NASDAQ:TREE) by 6.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,400 shares of the financial services provider’s stock after purchasing an additional 15,400 shares during the period. Hennessy Advisors Inc. owned 1.81% of LendingTree worth $9,393,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of TREE. National Bank of Canada FI bought a new position in LendingTree in the 3rd quarter worth approximately $32,000. Point72 DIFC Ltd grew its holdings in LendingTree by 77.0% during the 3rd quarter. Point72 DIFC Ltd now owns 1,147 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 499 shares during the period. nVerses Capital LLC grew its holdings 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 grew its holdings in LendingTree by 262.1% during the 3rd quarter. CWM LLC now owns 2,180 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 1,578 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in LendingTree during the 3rd quarter worth $203,000. Institutional investors own 68.26% of the company’s stock.

LendingTree Stock Up 4.6 %

TREE opened at $40.29 on Friday. LendingTree, Inc. has a 12 month low of $24.55 and a 12 month high of $62.49. The firm’s fifty day simple moving average is $41.44 and its 200 day simple moving average is $48.75. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.67.

Insider Activity at LendingTree

In other LendingTree news, CEO Douglas R. Lebda purchased 13,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were purchased at an average cost of $39.72 per share, with a total value of $516,360.00. Following the transaction, the chief executive officer now directly owns 121,599 shares of the company’s stock, valued at $4,829,912.28. This represents a 11.97 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Scott V. Totman purchased 3,750 shares of the business’s stock in a transaction on Friday, December 6th. The shares were acquired at an average cost of $38.59 per share, for a total transaction 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 represents a 25.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 23.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of LendingTree from $71.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com lowered shares of LendingTree from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Oppenheimer boosted their price target on shares of LendingTree from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Needham & Company LLC boosted their price target on shares of LendingTree from $67.00 to $78.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Susquehanna boosted their price target on shares of LendingTree from $50.00 to $58.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, LendingTree has a consensus rating of “Moderate Buy” and an average price target 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.