Connor Clark & Lunn Investment Management Ltd. Acquires 3,648 Shares of LendingTree, Inc. (NASDAQ:TREE)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of LendingTree, Inc. (NASDAQ:TREE) by 27.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 16,726 shares of the financial services provider’s stock after buying an additional 3,648 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in LendingTree were worth $971,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TREE. Hennessy Advisors Inc. bought a new stake in LendingTree during the 2nd quarter worth about $8,380,000. Lisanti Capital Growth LLC bought a new stake in LendingTree during the 3rd quarter worth about $3,651,000. Renaissance Technologies LLC raised its holdings in LendingTree by 25.0% during the 2nd quarter. Renaissance Technologies LLC now owns 292,900 shares of the financial services provider’s stock worth $12,182,000 after purchasing an additional 58,500 shares during the last quarter. ClariVest Asset Management LLC bought a new stake in LendingTree during the 2nd quarter worth about $1,360,000. Finally, GSA Capital Partners LLP bought a new stake in LendingTree during the 3rd quarter worth about $1,612,000. 68.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TREE. Truist Financial boosted their target price on LendingTree from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Oppenheimer boosted their target price on LendingTree from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Needham & Company LLC boosted their target price on LendingTree from $67.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Susquehanna boosted their target price on LendingTree from $50.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, StockNews.com lowered LendingTree from a “buy” rating to a “hold” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, LendingTree has an average rating of “Moderate Buy” and an average price target of $64.00.

Insider Activity at LendingTree

In other LendingTree news, General Counsel Heather Enlow-Novitsky sold 564 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $52.54, for a total transaction of $29,632.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 23.40% of the stock is owned by company insiders.

LendingTree Trading Up 0.3 %

Shares of LendingTree stock opened at $43.85 on Thursday. LendingTree, Inc. has a 12-month low of $15.95 and a 12-month high of $62.49. The stock has a market cap of $585.84 million, a P/E ratio of -16.24 and a beta of 2.11. 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 business’s 50 day moving average is $52.98 and its 200-day moving average is $49.72.

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.