LendingTree (NASDAQ:TREE) Shares Down 7.1% – Here’s What Happened

LendingTree, Inc. (NASDAQ:TREE)’s share price dropped 7.1% during mid-day trading on Monday . The stock traded as low as $53.51 and last traded at $52.6250. Approximately 183,277 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 298,885 shares. The stock had previously closed at $56.66.

Analysts Set New Price Targets

Several research firms have recently commented on TREE. Truist Financial increased their price target on shares of LendingTree from $62.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Needham & Company LLC increased their price objective on LendingTree from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Zacks Research cut shares of LendingTree from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Oppenheimer set a $85.00 price objective on shares of LendingTree and gave the stock an “outperform” rating in a research report on Friday, October 31st. Finally, Wall Street Zen cut shares of LendingTree from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, LendingTree has a consensus rating of “Moderate Buy” and a consensus price target of $76.67.

LendingTree Price Performance

The company has a fifty day moving average of $56.68 and a 200-day moving average of $58.98. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market cap of $622.81 million, a P/E ratio of 45.11 and a beta of 2.13.

Institutional Trading of LendingTree

Hedge funds have recently added to or reduced their stakes in the business. AlphaQuest LLC boosted its position in LendingTree by 11.4% during the 2nd quarter. AlphaQuest LLC now owns 2,212 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 227 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in 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 purchasing an additional 230 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in LendingTree by 1.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,899 shares of the financial services provider’s stock valued at $886,000 after purchasing an additional 301 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of LendingTree by 272.6% during the third quarter. Farther Finance Advisors LLC now owns 462 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 338 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in LendingTree by 10.5% during the third quarter. New York State Common Retirement Fund now owns 4,590 shares of the financial services provider’s stock valued at $297,000 after acquiring an additional 436 shares in the last quarter. 68.26% of the stock is owned by 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.