LendingTree (NASDAQ:TREE) Shares Up 7% – Should You Buy?

Shares of LendingTree, Inc. (NASDAQ:TREE) traded up 7% on Wednesday . The stock traded as high as $56.91 and last traded at $56.45. 99,108 shares were traded during mid-day trading, a decline of 55% from the average session volume of 222,257 shares. The stock had previously closed at $52.76.

Analysts Set New Price Targets

A number of brokerages recently commented on TREE. Truist Financial boosted their price objective on shares of LendingTree from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday. Northland Securities lifted their price target on LendingTree from $50.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Needham & Company LLC increased their price objective on shares of LendingTree from $67.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday. Keefe, Bruyette & Woods lifted their price target on LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Susquehanna upped their price objective on shares of LendingTree from $50.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

LendingTree Trading Down 20.6 %

The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.82 and a current ratio of 1.82. The company has a 50-day moving average price of $56.66 and a 200-day moving average price of $49.02. The firm has a market capitalization of $603.86 million, a price-to-earnings ratio of -4.84 and a beta of 2.12.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. grew its holdings in LendingTree by 6.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 364,173 shares of the financial services provider’s stock worth $15,419,000 after acquiring an additional 22,581 shares during the period. Emerald Advisers LLC boosted its position in LendingTree by 3.0% during the third quarter. Emerald Advisers LLC now owns 356,389 shares of the financial services provider’s stock worth $20,681,000 after acquiring an additional 10,497 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of LendingTree by 25.0% in the second quarter. Renaissance Technologies LLC now owns 292,900 shares of the financial services provider’s stock valued at $12,182,000 after purchasing an additional 58,500 shares during the period. Emerald Mutual Fund Advisers Trust boosted its position in shares of LendingTree by 9.3% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 280,731 shares of the financial services provider’s stock worth $11,676,000 after acquiring an additional 23,995 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of LendingTree by 53.9% during the 1st quarter. Acadian Asset Management LLC now owns 256,719 shares of the financial services provider’s stock valued at $10,868,000 after buying an additional 89,900 shares during the period. 68.26% of the stock is owned by hedge funds and other institutional investors.

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.