LendingTree (NASDAQ:TREE) Upgraded by Northland Capmk to Strong-Buy Rating

Northland Capmk upgraded shares of LendingTree (NASDAQ:TREE) from a hold rating to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

Several other equities research analysts have also commented on the company. Truist Financial upped their price objective on LendingTree from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. 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 report on Friday, November 1st. Keefe, Bruyette & Woods increased their target price on LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a research report 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 report on Friday, November 1st. Finally, Northland Securities raised LendingTree from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

LendingTree Stock Performance

NASDAQ:TREE traded down $0.14 during midday trading on Tuesday, hitting $44.35. The company’s stock had a trading volume of 59,057 shares, compared to its average volume of 219,700. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.92 and a quick ratio of 0.92. LendingTree has a fifty-two week low of $28.50 and a fifty-two week high of $62.49. The firm’s 50 day moving average is $41.08 and its 200-day moving average is $48.84. The firm has a market cap of $592.57 million, a P/E ratio of -16.32 and a beta of 2.06.

Insiders Place Their Bets

In related news, CTO Scott V. Totman acquired 3,750 shares of LendingTree stock in a transaction dated 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 of the company’s stock, valued at $702,029.28. The trade was a 25.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Heather Enlow-Novitsky sold 564 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $52.54, for a total value of $29,632.56. The disclosure for this sale can be found here. 23.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On LendingTree

Large investors have recently modified their holdings of the company. National Bank of Canada FI purchased a new stake in shares of LendingTree during the 3rd quarter valued at about $32,000. Point72 DIFC Ltd grew its stake in LendingTree by 77.0% during the 3rd quarter. Point72 DIFC Ltd now owns 1,147 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 499 shares in the last quarter. nVerses Capital LLC grew its stake in LendingTree by 200.0% during the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 800 shares in the last quarter. CWM LLC grew its stake in LendingTree by 262.1% during the 3rd quarter. CWM LLC now owns 2,180 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 1,578 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in LendingTree during the 3rd quarter valued at approximately $203,000. 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.