LendingTree (NASDAQ:TREE) Stock Rating Lowered by Wall Street Zen

LendingTree (NASDAQ:TREE) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LendingTree in a research report on Wednesday, June 24th. Zacks Research cut LendingTree from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Needham & Company LLC dropped their price objective on LendingTree from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. JPMorgan Chase & Co. began coverage on LendingTree in a research note on Tuesday, April 14th. They issued an “overweight” rating and a $50.00 target price on the stock. Finally, Northland Securities set a $60.00 target price on shares of LendingTree in a report on Thursday, July 30th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, LendingTree presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.33.

LendingTree Stock Performance

NASDAQ TREE opened at $32.13 on Friday. The stock has a market cap of $451.11 million, a PE ratio of 2.49 and a beta of 2.04. LendingTree has a 12 month low of $29.77 and a 12 month high of $77.35. The company’s 50-day moving average price is $39.63 and its 200-day moving average price is $42.23. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.20.

Hedge Funds Weigh In On LendingTree

Hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in LendingTree during the 2nd quarter worth approximately $416,000. BlackRock Inc. acquired a new stake in LendingTree during the 2nd quarter valued at approximately $54,329,000. Deutsche Bank AG purchased a new stake in shares of LendingTree in the 2nd quarter valued at $504,000. Bank of New York Mellon Corp acquired a new stake in shares of LendingTree in the second quarter worth $1,612,000. Finally, State of Wyoming acquired a new stake in shares of LendingTree in the second quarter worth $643,000. 68.26% of the stock is owned by institutional investors and hedge funds.

About LendingTree

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.