LendingTree (NASDAQ:TREE) Stock Price Down 5.3% - Here's What Happened

LendingTree, Inc. (NASDAQ:TREE - Get Free Report)'s stock price fell 5.3% during trading on Tuesday . The company traded as low as $46.66 and last traded at $46.70. 23,852 shares changed hands during trading, a decline of 90% from the average session volume of 251,020 shares. The stock had previously closed at $49.32.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Needham & Company LLC raised 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. Northland Securities upgraded shares of LendingTree from a "market perform" rating to an "outperform" rating and set a $60.00 price objective on the stock in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods lifted their target price on LendingTree from $71.00 to $73.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Truist Financial increased their price target on LendingTree from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Finally, StockNews.com lowered LendingTree from a "buy" rating to a "hold" rating in a research report on Wednesday, November 27th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, LendingTree presently has a consensus rating of "Moderate Buy" and an average price target of $64.00.

LendingTree Price Performance

The business has a fifty day moving average price of $40.77 and a 200 day moving average price of $48.91. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $623.11 million, a price-to-earnings ratio of -17.27 and a beta of 2.06.

Insiders Place Their Bets

In other LendingTree news, CEO Douglas R. Lebda bought 13,000 shares of the company's stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average cost of $39.72 per share, for a total transaction of $516,360.00. Following the acquisition, the chief executive officer now directly owns 121,599 shares of the company's stock, valued at $4,829,912.28. This trade represents a 11.97 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Scott V. Totman purchased 3,750 shares of the company's stock in a transaction on Friday, December 6th. The stock was bought at an average cost of $38.59 per share, for a total transaction of $144,712.50. Following the acquisition, the chief technology officer now directly owns 18,192 shares of the company's stock, valued at $702,029.28. This represents a 25.97 % increase in their position. The disclosure for this purchase can be found here. 23.40% of the stock is owned by insiders.

Hedge Funds Weigh In On LendingTree

A number of hedge funds have recently modified their holdings of the stock. National Bank of Canada FI purchased a new position in LendingTree in the 3rd quarter worth about $32,000. Point72 DIFC Ltd boosted its stake in LendingTree by 77.0% in the 3rd quarter. Point72 DIFC Ltd now owns 1,147 shares of the financial services provider's stock worth $67,000 after purchasing an additional 499 shares during the period. nVerses Capital LLC grew its position in LendingTree by 200.0% during the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the financial services provider's stock worth $70,000 after purchasing an additional 800 shares in the last quarter. CWM LLC raised its stake in LendingTree by 262.1% during 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 during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of LendingTree in the third quarter worth $203,000. 68.26% of the stock is currently owned by institutional investors and hedge funds.

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.