LendingTree (NASDAQ:TREE) Reaches New 12-Month High at $47.81

LendingTree, Inc. (NASDAQ:TREE) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $47.81 and last traded at $45.96, with a volume of 508195 shares traded. The stock had previously closed at $37.35.

Analysts Set New Price Targets

Several brokerages have issued reports on TREE. StockNews.com cut shares of LendingTree from a “buy” rating to a “hold” rating in a report on Monday, March 25th. Keefe, Bruyette & Woods upgraded shares of LendingTree from a “market perform” rating to an “outperform” rating and upped their target price for the company from $24.00 to $45.00 in a research note on Wednesday, February 28th. Truist Financial lifted their target price on shares of LendingTree from $24.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Susquehanna increased their price target on LendingTree from $15.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. upped their price objective on LendingTree from $25.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $36.57.

LendingTree Trading Up 23.3 %

The stock’s 50-day simple moving average is $38.38 and its two-hundred day simple moving average is $29.10. The company has a debt-to-equity ratio of 4.23, a current ratio of 2.60 and a quick ratio of 2.60. The firm has a market capitalization of $600.36 million, a P/E ratio of -4.95 and a beta of 2.19.

LendingTree (NASDAQ:TREE) last released its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.14. The business had revenue of $134.40 million during the quarter, compared to analysts’ expectations of $135.55 million. LendingTree had a negative return on equity of 4.22% and a negative net margin of 18.20%. During the same quarter last year, the business posted ($0.53) EPS. Equities research analysts expect that LendingTree, Inc. will post -0.36 EPS for the current year.

Institutional Trading of LendingTree

A number of large investors have recently made changes to their positions in the business. Shenkman Capital Management Inc. increased its stake in LendingTree by 186.2% during the fourth quarter. Shenkman Capital Management Inc. now owns 343,440 shares of the financial services provider’s stock worth $10,413,000 after acquiring an additional 223,440 shares during the last quarter. Blue Grotto Capital LLC purchased a new position in LendingTree during the fourth quarter worth $4,930,000. Kettle Hill Capital Management LLC bought a new position in LendingTree during the fourth quarter valued at $2,361,000. Alta Park Capital LP purchased a new stake in shares of LendingTree in the fourth quarter valued at $2,297,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of LendingTree in the 3rd quarter worth about $1,031,000. 68.26% of the stock is currently owned by institutional investors.

LendingTree Company Profile

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.