LendingTree, Inc. (NASDAQ:TREE) Short Interest Update

LendingTree, Inc. (NASDAQ:TREE) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 848,200 shares, a growth of 168.8% from the October 31st total of 315,600 shares. Approximately 7.8% of the company’s stock are short sold. Based on an average daily volume of 240,300 shares, the days-to-cover ratio is currently 3.5 days.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TREE. StockNews.com cut LendingTree from a “buy” rating to a “hold” rating in a research note on Wednesday. Truist Financial raised their price objective on LendingTree from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods raised their target price on LendingTree from $71.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Needham & Company LLC raised their target price on LendingTree from $67.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Susquehanna raised their target price on LendingTree from $50.00 to $58.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $64.00.

Insider Buying and Selling

In other LendingTree news, General Counsel Heather Enlow-Novitsky sold 564 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $52.54, for a total value of $29,632.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LendingTree

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its position in LendingTree by 230.8% during the second quarter. CWM LLC now owns 602 shares of the financial services provider’s stock worth $25,000 after buying an additional 420 shares in the last quarter. National Bank of Canada FI purchased a new position in LendingTree during the third quarter worth approximately $32,000. Point72 DIFC Ltd lifted its position in LendingTree by 77.0% during the third quarter. Point72 DIFC Ltd now owns 1,147 shares of the financial services provider’s stock worth $67,000 after buying an additional 499 shares in the last quarter. nVerses Capital LLC lifted its position in LendingTree by 200.0% during the third quarter. nVerses Capital LLC now owns 1,200 shares of the financial services provider’s stock worth $70,000 after buying an additional 800 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in LendingTree during the second quarter worth approximately $132,000. Hedge funds and other institutional investors own 68.26% of the company’s stock.

LendingTree Price Performance

Shares of NASDAQ:TREE traded up $0.36 during trading on Friday, reaching $44.21. The stock had a trading volume of 137,503 shares, compared to its average volume of 240,692. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.92 and a current ratio of 0.92. The business has a fifty day moving average price of $52.34 and a 200-day moving average price of $49.65. The stock has a market cap of $590.73 million, a PE ratio of -16.37 and a beta of 2.11. LendingTree has a 1-year low of $17.21 and a 1-year high of $62.49.

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.