LendingTree (NASDAQ:TREE) Shares Up 6.1%

LendingTree, Inc. (NASDAQ:TREE) shot up 6.1% during mid-day trading on Monday . The company traded as high as $60.00 and last traded at $59.85. 83,372 shares changed hands during trading, a decline of 64% from the average session volume of 231,865 shares. The stock had previously closed at $56.42.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TREE. Truist Financial lifted their price target on shares of LendingTree from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Susquehanna lifted their target price on shares of LendingTree from $42.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Oppenheimer lifted their target price on shares of LendingTree from $55.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Northland Securities lifted their target price on shares of LendingTree from $50.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Finally, StockNews.com raised shares of LendingTree from a “hold” rating to a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.13.

LendingTree Price Performance

The firm’s 50-day moving average is $53.36 and its 200-day moving average is $46.45. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.82 and a quick ratio of 1.82. The company has a market capitalization of $761.36 million, a P/E ratio of -5.55 and a beta of 2.12.

LendingTree (NASDAQ:TREE) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.19). The business had revenue of $210.10 million for the quarter, compared to the consensus estimate of $187.41 million. LendingTree had a negative net margin of 19.02% and a negative return on equity of 2.98%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 earnings per share. Analysts predict that LendingTree, Inc. will post -0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On LendingTree

Several large investors have recently added to or reduced their stakes in TREE. Principal Financial Group Inc. lifted its holdings in LendingTree by 31.3% during the fourth quarter. Principal Financial Group Inc. now owns 17,367 shares of the financial services provider’s stock valued at $527,000 after purchasing an additional 4,144 shares in the last quarter. SG Capital Management LLC purchased a new position in shares of LendingTree in the fourth quarter worth $1,196,000. Cullen Capital Management LLC lifted its holdings in shares of LendingTree by 51.1% in the fourth quarter. Cullen Capital Management LLC now owns 43,327 shares of the financial services provider’s stock worth $1,314,000 after buying an additional 14,644 shares in the last quarter. Alta Park Capital LP purchased a new position in shares of LendingTree in the fourth quarter worth $2,297,000. Finally, Blue Grotto Capital LLC purchased a new stake in LendingTree during the fourth quarter valued at $4,930,000. Hedge funds and other institutional investors 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.