LendingTree (NASDAQ:TREE) Upgraded at Northland Securities

LendingTree (NASDAQ:TREE) was upgraded by research analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has a $60.00 target price on the financial services provider’s stock. Northland Securities’ price target would indicate a potential upside of 43.66% from the company’s previous close.

A number of other research firms have also recently issued reports on TREE. Oppenheimer boosted their target price on shares of LendingTree from $65.00 to $70.00 and gave the stock an “outperform” 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 report on Wednesday, November 27th. Susquehanna raised their target price on LendingTree from $50.00 to $58.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Truist Financial increased their price objective on LendingTree from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Needham & Company LLC boosted their target price on LendingTree from $67.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

LendingTree Stock Up 2.8 %

LendingTree stock traded up $1.13 during trading hours on Tuesday, hitting $41.77. The company had a trading volume of 46,119 shares, compared to its average volume of 193,521. The firm’s fifty day moving average is $41.08 and its 200-day moving average is $48.84. The firm has a market capitalization of $557.99 million, a P/E ratio of -15.56 and a beta of 2.06. LendingTree has a fifty-two week low of $28.28 and a fifty-two week high of $62.49. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.92 and a quick ratio of 0.92.

Insiders Place Their Bets

In other news, CEO Douglas R. Lebda acquired 13,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average cost of $39.72 per share, for a total transaction of $516,360.00. Following the completion of the transaction, the chief executive officer now directly owns 121,599 shares in the company, valued at $4,829,912.28. This trade represents a 11.97 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Heather Enlow-Novitsky sold 564 shares of the firm’s stock in a transaction dated 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. Insiders own 23.40% of the company’s stock.

Hedge Funds Weigh In On LendingTree

Several hedge funds have recently added to or reduced their stakes in TREE. Point72 DIFC Ltd raised its stake in LendingTree by 77.0% during the 3rd 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 during the period. National Bank of Canada FI bought a new position in shares of LendingTree during the 3rd quarter valued at about $32,000. nVerses Capital LLC increased its holdings in LendingTree by 200.0% during 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 lifted its holdings in shares of LendingTree by 262.1% in the third 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 in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of LendingTree by 5.2% in the third quarter. Empowered Funds LLC now owns 35,218 shares of the financial services provider’s stock valued at $2,044,000 after purchasing an additional 1,742 shares in the last quarter. Institutional investors and hedge funds own 68.26% of the company’s stock.

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.