LendingTree (NASDAQ:TREE) Sees Unusually-High Trading Volume on Analyst Upgrade

LendingTree, Inc. (NASDAQ:TREE - Get Free Report) shares saw strong trading volume on Friday after Keefe, Bruyette & Woods raised their price target on the stock from $71.00 to $73.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. 156,992 shares traded hands during mid-day trading, a decline of 30% from the previous session's volume of 224,203 shares.The stock last traded at $48.75 and had previously closed at $57.03.

A number of other analysts also recently weighed in on TREE. Stephens increased their target price on shares of LendingTree from $55.00 to $65.00 and gave the company an "overweight" rating in a research report on Monday, July 29th. Truist Financial upped their price objective on shares of LendingTree from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Friday. Oppenheimer lifted their target price on shares of LendingTree from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday. Susquehanna lifted their price objective on LendingTree from $50.00 to $58.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Needham & Company LLC upped their target price on LendingTree from $67.00 to $78.00 and gave the company a "buy" rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $64.00.

Hedge Funds Weigh In On LendingTree

A number of institutional investors have recently modified their holdings of the company. CWM LLC raised its holdings in 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 buying an additional 420 shares during the last quarter. nVerses Capital LLC lifted its position in 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 acquiring an additional 800 shares in the last quarter. Headlands Technologies LLC boosted its stake in LendingTree by 16.8% during the 1st quarter. Headlands Technologies LLC now owns 1,881 shares of the financial services provider's stock valued at $80,000 after purchasing an additional 270 shares during the last quarter. Quest Partners LLC bought a new stake in LendingTree during the 2nd quarter worth approximately $132,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of LendingTree in the second quarter worth approximately $139,000. 68.26% of the stock is owned by institutional investors and hedge funds.

LendingTree Stock Down 21.3 %

The company has a market cap of $598.79 million, a P/E ratio of -4.84 and a beta of 2.12. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.82 and a quick ratio of 1.82. The stock has a fifty day moving average price of $56.66 and a two-hundred day moving average price of $49.02.

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.