LendingTree (NASDAQ:TREE) Shares Up 6.4% - Still a Buy?

LendingTree, Inc. (NASDAQ:TREE - Get Free Report)'s share price was up 6.4% on Wednesday . The company traded as high as $43.21 and last traded at $43.05. Approximately 112,898 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 250,938 shares. The stock had previously closed at $40.46.

Wall Street Analysts Forecast Growth

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

LendingTree Trading Down 3.4 %

The business's 50-day moving average price is $48.47 and its 200 day moving average price is $49.32. The firm has a market capitalization of $522.32 million, a price-to-earnings ratio of -14.48 and a beta of 2.03. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.92 and a quick ratio of 0.92.

Insider Buying and Selling at LendingTree

In related news, CTO Scott V. Totman purchased 3,750 shares of the company's stock in a transaction that occurred on Friday, December 6th. The stock was acquired at an average price of $38.59 per share, for a total transaction of $144,712.50. Following the completion of the purchase, the chief technology officer now owns 18,192 shares in the company, valued at approximately $702,029.28. This represents a 25.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $29,632.56. The disclosure for this sale can be found here. 23.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TREE. CWM LLC lifted its position in shares of 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 purchasing an additional 420 shares during the last quarter. SG Americas Securities LLC grew its position in shares of LendingTree by 297.2% in the 2nd quarter. SG Americas Securities LLC now owns 11,797 shares of the financial services provider's stock worth $491,000 after acquiring an additional 8,827 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in shares of LendingTree in the 2nd quarter valued at approximately $8,380,000. Bank of New York Mellon Corp raised its position in shares of LendingTree by 7.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 40,268 shares of the financial services provider's stock valued at $1,675,000 after acquiring an additional 2,830 shares in the last quarter. Finally, Versor Investments LP bought a new position in LendingTree during the second quarter worth $204,000. 68.26% of the stock is 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.