LendingTree (NASDAQ:TREE) Shares Up 6.1%

LendingTree, Inc. (NASDAQ:TREE)’s share price was up 6.1% during mid-day trading on Monday . The stock traded as high as $60.00 and last traded at $59.85. Approximately 83,372 shares traded hands during trading, a decline of 64% from the average daily volume of 231,865 shares. The stock had previously closed at $56.42.

Analyst Ratings Changes

Several research analysts have issued reports on TREE shares. StockNews.com upgraded shares of LendingTree from a “hold” rating to a “buy” rating in a report on Tuesday. Truist Financial increased their target price on shares of LendingTree from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Northland Securities increased their target price on shares of LendingTree from $50.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Susquehanna increased their target price on shares of LendingTree from $42.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Stephens increased their price target on shares of LendingTree from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, LendingTree has a consensus rating of “Moderate Buy” and an average price target of $58.13.

LendingTree Stock Down 0.8 %

The stock has a market capitalization of $761.36 million, a PE ratio of -5.55 and a beta of 2.12. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 3.21. The company’s 50-day moving average is $53.36 and its 200 day moving average is $46.45.

LendingTree (NASDAQ:TREE) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.19). LendingTree had a negative return on equity of 2.98% and a negative net margin of 19.02%. The business had revenue of $210.10 million during the quarter, compared to analyst estimates of $187.41 million. During the same quarter last year, the company posted $0.43 EPS. LendingTree’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, analysts anticipate that LendingTree, Inc. will post -0.36 EPS for the current year.

Hedge Funds Weigh In On LendingTree

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Hennessy Advisors Inc. acquired a new stake in shares of LendingTree during the 2nd quarter worth approximately $8,380,000. Blue Grotto Capital LLC acquired a new stake in LendingTree in the 4th quarter valued at $4,930,000. Acadian Asset Management LLC increased its holdings 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 worth $10,868,000 after acquiring an additional 89,900 shares in the last quarter. Alta Park Capital LP purchased a new stake in LendingTree in the 4th quarter worth $2,297,000. Finally, Renaissance Technologies LLC increased its holdings in LendingTree by 25.0% in the 2nd quarter. Renaissance Technologies LLC now owns 292,900 shares of the financial services provider’s stock worth $12,182,000 after acquiring an additional 58,500 shares in the last quarter. Institutional investors and hedge funds 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.