LendingTree (NASDAQ:TREE) Shares Gap Up – Here’s What Happened

Shares of LendingTree, Inc. (NASDAQ:TREE) gapped up before the market opened on Monday . The stock had previously closed at $41.45, but opened at $42.90. LendingTree shares last traded at $46.83, with a volume of 137,776 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Northland Capmk upgraded shares of LendingTree from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. Oppenheimer upped their price objective on shares of LendingTree from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Northland Securities upgraded LendingTree from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research note on Tuesday, January 21st. StockNews.com downgraded LendingTree from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Finally, Truist Financial raised their price objective on LendingTree from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, LendingTree presently has an average rating of “Moderate Buy” and an average target price of $64.00.

LendingTree Trading Down 5.4 %

The stock has a market capitalization of $623.20 million, a PE ratio of -17.27 and a beta of 2.06. 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 50 day moving average price of $40.77 and a 200 day moving average price of $48.91.

Insider Activity at LendingTree

In related news, General Counsel Heather Enlow-Novitsky sold 564 shares of LendingTree stock in a transaction on Monday, November 11th. The stock was sold at an average price of $52.54, for a total transaction of $29,632.56. The sale was disclosed in a document filed with the SEC, which is available through 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 acquired at an average cost of $38.59 per share, with a total value of $144,712.50. Following the completion of the transaction, the chief technology officer now owns 18,192 shares in the company, valued at approximately $702,029.28. The trade was 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.

Hedge Funds Weigh In On LendingTree

Institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its position in shares of LendingTree by 4.9% during the 4th quarter. Empowered Funds LLC now owns 36,946 shares of the financial services provider’s stock valued at $1,432,000 after acquiring an additional 1,728 shares during the period. Hennessy Advisors Inc. grew its holdings in LendingTree by 6.8% during the fourth quarter. Hennessy Advisors Inc. now owns 242,400 shares of the financial services provider’s stock valued at $9,393,000 after purchasing an additional 15,400 shares during the period. Barclays PLC increased its position in LendingTree by 301.5% in the third quarter. Barclays PLC now owns 21,409 shares of the financial services provider’s stock worth $1,244,000 after buying an additional 16,077 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of LendingTree by 1.0% in the third quarter. Geode Capital Management LLC now owns 253,208 shares of the financial services provider’s stock valued at $14,697,000 after buying an additional 2,595 shares during the period. Finally, National Bank of Canada FI purchased a new position in shares of LendingTree during the 3rd quarter valued at $32,000. Institutional investors own 68.26% of the company’s stock.

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.