LendingTree (NASDAQ:TREE) Sees Unusually-High Trading Volume – Here’s What Happened

LendingTree, Inc. (NASDAQ:TREE) saw unusually-high trading volume on Monday . Approximately 327,306 shares changed hands during mid-day trading, an increase of 37% from the previous session’s volume of 239,282 shares.The stock last traded at $43.30 and had previously closed at $44.34.

Analyst Upgrades and Downgrades

TREE has been the subject of a number of research analyst reports. Susquehanna raised their price target on LendingTree from $50.00 to $58.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods upped their target price on shares of LendingTree from $71.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Northland Securities upped their target price on shares of LendingTree from $50.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. StockNews.com upgraded shares of LendingTree from a “hold” rating to a “buy” rating in a research note on Sunday, November 10th. Finally, Stephens boosted their price target on LendingTree from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, LendingTree presently has an average rating of “Moderate Buy” and an average target price of $64.00.

LendingTree Price Performance

The company’s 50-day moving average price is $54.85 and its 200-day moving average price is $50.00. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.67. The firm has a market cap of $580.31 million, a price-to-earnings ratio of -15.98 and a beta of 2.11.

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 shares were sold at an average price of $52.54, for a total value of $29,632.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 23.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LendingTree

Several large investors have recently added to or reduced their stakes in the business. CWM LLC boosted its position in LendingTree by 230.8% during the 2nd quarter. CWM LLC now owns 602 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 420 shares during the period. National Bank of Canada FI acquired a new position in LendingTree during the 3rd quarter worth approximately $32,000. Point72 DIFC Ltd grew its position in LendingTree by 77.0% in the third quarter. Point72 DIFC Ltd now owns 1,147 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 499 shares in the last quarter. nVerses Capital LLC raised its stake in shares of LendingTree by 200.0% during the third quarter. nVerses Capital LLC now owns 1,200 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 800 shares during the period. Finally, Quest Partners LLC acquired a new stake in shares of LendingTree during the second quarter valued at about $132,000. 68.26% of the stock is currently 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.