Hennessy Advisors Inc. Has $9.39 Million Stock Position in LendingTree, Inc. (NASDAQ:TREE)

Hennessy Advisors Inc. increased its stake in shares of LendingTree, Inc. (NASDAQ:TREE - Free Report) by 6.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 242,400 shares of the financial services provider's stock after acquiring an additional 15,400 shares during the period. Hennessy Advisors Inc. owned approximately 1.81% of LendingTree worth $9,393,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI acquired a new position in shares of LendingTree in the 3rd quarter valued at approximately $32,000. Point72 DIFC Ltd raised its position in shares of LendingTree by 77.0% in the 3rd quarter. Point72 DIFC Ltd now owns 1,147 shares of the financial services provider's stock valued at $67,000 after purchasing an additional 499 shares in the last quarter. nVerses Capital LLC raised its position in shares of LendingTree by 200.0% in the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the financial services provider's stock valued at $70,000 after purchasing an additional 800 shares in the last quarter. CWM LLC raised its position in shares of LendingTree by 262.1% in the 3rd quarter. CWM LLC now owns 2,180 shares of the financial services provider's stock valued at $127,000 after purchasing an additional 1,578 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of LendingTree in the 3rd quarter valued at approximately $203,000. 68.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Oppenheimer boosted their price target on LendingTree from $65.00 to $70.00 and gave the company an "outperform" rating in a report on Friday, November 1st. StockNews.com downgraded LendingTree from a "buy" rating to a "hold" rating in a report on Wednesday, November 27th. Truist Financial boosted their price target on LendingTree from $60.00 to $70.00 and gave the company a "buy" rating in a report on Friday, November 1st. Needham & Company LLC upped their price objective on LendingTree from $67.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Finally, Keefe, Bruyette & Woods upped their price objective on LendingTree from $71.00 to $73.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $64.00.

Insider Activity

In related news, CTO Scott V. Totman bought 3,750 shares of LendingTree stock in a transaction dated Friday, December 6th. The stock was acquired at an average cost of $38.59 per share, with a total value of $144,712.50. Following the completion of the acquisition, the chief technology officer now directly owns 18,192 shares in the company, valued at approximately $702,029.28. This trade represents a 25.97 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Heather Enlow-Novitsky sold 564 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $52.54, for a total value of $29,632.56. The disclosure for this sale can be found here. Insiders own 23.40% of the company's stock.

LendingTree Stock Performance

Shares of NASDAQ:TREE traded up $0.35 on Friday, hitting $40.64. The company's stock had a trading volume of 260,550 shares, compared to its average volume of 186,673. LendingTree, Inc. has a 12 month low of $25.23 and a 12 month high of $62.49. The company has a market capitalization of $542.95 million, a price-to-earnings ratio of -15.05 and a beta of 2.06. The stock's 50-day moving average is $41.31 and its two-hundred day moving average is $48.75. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.92 and a current ratio of 0.92.

LendingTree Profile

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.