LendingTree (NASDAQ:TREE) Stock Price Up 6.3% - Here's What Happened

LendingTree, Inc. (NASDAQ:TREE - Get Free Report) rose 6.3% during mid-day trading on Tuesday . The stock traded as high as $45.58 and last traded at $45.74. Approximately 47,347 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 237,250 shares. The stock had previously closed at $43.02.

Analysts Set New Price Targets

TREE has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reduced their price objective on LendingTree from $73.00 to $66.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. JPMorgan Chase & Co. boosted their target price on shares of LendingTree from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. Stephens reaffirmed an "overweight" rating and set a $69.00 price target on shares of LendingTree in a report on Thursday, March 6th. Northland Securities raised shares of LendingTree from a "market perform" rating to an "outperform" rating and set a $60.00 price objective for the company in a research report on Tuesday, January 21st. Finally, Needham & Company LLC lowered their target price on LendingTree from $78.00 to $65.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $65.75.

LendingTree Stock Down 0.7 %

The stock's fifty day simple moving average is $45.90 and its two-hundred day simple moving average is $45.88. The company has a market capitalization of $601.12 million, a price-to-earnings ratio of -16.62 and a beta of 1.90. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.92 and a current ratio of 0.92.

Insider Buying and Selling

In related news, COO Scott Peyree bought 21,045 shares of LendingTree stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $41.69 per share, with a total value of $877,366.05. Following the completion of the acquisition, the chief operating officer now directly owns 76,760 shares in the company, valued at approximately $3,200,124.40. This trade represents a 37.77 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 23.40% of the stock is currently owned by insiders.

Institutional Trading of LendingTree

Several institutional investors and hedge funds have recently bought and sold shares of TREE. Asset Management One Co. Ltd. increased its position in shares of LendingTree by 101.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,027 shares of the financial services provider's stock worth $80,000 after acquiring an additional 1,021 shares in the last quarter. Versor Investments LP acquired a new stake in LendingTree during the 4th quarter valued at $298,000. Proficio Capital Partners LLC purchased a new stake in shares of LendingTree in the fourth quarter valued at $899,000. Charles Schwab Investment Management Inc. boosted its position in shares of LendingTree by 6.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 93,483 shares of the financial services provider's stock worth $3,622,000 after buying an additional 5,277 shares during the period. Finally, Barclays PLC boosted its position in shares of LendingTree by 301.5% in the third quarter. Barclays PLC now owns 21,409 shares of the financial services provider's stock worth $1,244,000 after buying an additional 16,077 shares during the period. Institutional investors and hedge funds own 68.26% of the company's stock.

LendingTree Company 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.