LendingTree (NASDAQ:TREE) Hits New 52-Week Low – Time to Sell?

LendingTree, Inc. (NASDAQ:TREE) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $32.97 and last traded at $33.24, with a volume of 727949 shares traded. The stock had previously closed at $38.95.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Truist Financial boosted their price target on LendingTree from $62.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Oppenheimer set a $85.00 price objective on shares of LendingTree and gave the company an “outperform” rating in a research report on Friday, October 31st. Needham & Company LLC upped their price objective on LendingTree from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. lifted their target price on LendingTree from $66.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Finally, Wall Street Zen cut LendingTree from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.67.

LendingTree Price Performance

The firm has a 50 day moving average of $52.86 and a 200-day moving average of $58.39. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.93. The company has a market cap of $454.39 million, a P/E ratio of 32.91 and a beta of 2.13.

Hedge Funds Weigh In On LendingTree

Several institutional investors have recently bought and sold shares of TREE. Financial Management Professionals Inc. bought a new position in shares of LendingTree during the 4th quarter valued at approximately $25,000. Farther Finance Advisors LLC boosted its position in LendingTree by 272.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 462 shares of the financial services provider’s stock valued at $30,000 after buying an additional 338 shares during the period. Fifth Third Bancorp bought a new position in LendingTree in the fourth quarter worth approximately $32,000. State of Alaska Department of Revenue bought a new stake in LendingTree during the 3rd quarter valued at $35,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of LendingTree by 25.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,141 shares of the financial services provider’s stock worth $42,000 after buying an additional 230 shares during the period. 68.26% of the stock is owned by hedge funds and other institutional investors.

LendingTree Company Profile

LendingTree, Inc operates an online marketplace that connects consumers with a network of lenders and financial service providers. Through its platform, borrowers can compare loan offers for mortgages, home equity loans, personal loans, student loans, auto loans and small business financing. The company also offers tools for comparing credit cards and deposit accounts, allowing users to research rates and terms from a range of providers in one place.

Founded in 1996 by Doug Lebda, LendingTree pioneered the comparison-shopping model for consumer credit products.