State Street Corp cut its holdings in LendingTree, Inc. (NASDAQ:TREE - Free Report) by 87.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 236,751 shares of the financial services provider's stock after selling 1,586,558 shares during the period. State Street Corp owned 1.77% of LendingTree worth $13,739,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Point72 DIFC Ltd lifted its holdings in shares of LendingTree by 77.0% in the third quarter. Point72 DIFC Ltd now owns 1,147 shares of the financial services provider's stock worth $67,000 after buying an additional 499 shares in the last quarter. nVerses Capital LLC lifted its stake in LendingTree by 200.0% in 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 boosted its holdings in 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 during the period. Quest Partners LLC purchased a new position in shares of LendingTree during the 2nd quarter valued at $132,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of LendingTree during the 2nd quarter valued at $139,000. 68.26% of the stock is currently owned by hedge funds and other institutional investors.
LendingTree Stock Performance
Shares of NASDAQ:TREE traded up $1.85 during midday trading on Thursday, reaching $40.29. 220,225 shares of the company's stock traded hands, compared to its average volume of 252,087. LendingTree, Inc. has a one year low of $24.55 and a one year high of $62.49. The stock has a 50 day moving average of $46.00 and a 200 day moving average of $49.12. The company has a market cap of $538.35 million, a price-to-earnings ratio of -14.92 and a beta of 2.03. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.92 and a current ratio of 0.92.
Analysts Set New Price Targets
TREE has been the subject of a number of research analyst reports. Needham & Company LLC lifted their price target on LendingTree from $67.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, November 1st. StockNews.com downgraded shares of LendingTree from a "buy" rating to a "hold" rating in a research note on Wednesday, November 27th. Truist Financial boosted their target price on LendingTree from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods lifted their price objective on LendingTree from $71.00 to $73.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, Oppenheimer increased their price target on shares of LendingTree from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, LendingTree currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.00.
Get Our Latest Research Report on TREE
Insider Activity at LendingTree
In other news, General Counsel Heather Enlow-Novitsky sold 564 shares of LendingTree stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $52.54, for a total transaction of $29,632.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas R. Lebda bought 13,000 shares of LendingTree stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average cost of $39.72 per share, with a total value of $516,360.00. Following the completion of the acquisition, the chief executive officer now directly owns 121,599 shares in the company, valued at $4,829,912.28. This represents a 11.97 % increase in their position. The disclosure for this purchase can be found here. 23.40% of the stock is owned by insiders.
LendingTree Profile
(
Free Report)
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.
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