LendingTree (NASDAQ:TREE) Shares Gap Up – Here’s What Happened

LendingTree, Inc. (NASDAQ:TREE)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $40.64, but opened at $42.25. LendingTree shares last traded at $41.91, with a volume of 46,119 shares.

Wall Street Analyst Weigh In

TREE has been the topic of several research analyst reports. Truist Financial increased their target price on LendingTree from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Northland Securities raised LendingTree from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a research report on Tuesday. StockNews.com cut shares of LendingTree from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Oppenheimer upped their target price on LendingTree from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Keefe, Bruyette & Woods upped their price objective on LendingTree from $71.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $64.00.

LendingTree Stock Up 6.5 %

The firm has a market cap of $578.39 million, a PE ratio of -16.04 and a beta of 2.06. The company’s 50 day moving average price is $41.08 and its two-hundred day moving average price is $48.84. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.67.

Insider Activity at LendingTree

In other news, CTO Scott V. Totman bought 3,750 shares of LendingTree stock in a transaction that occurred on Friday, December 6th. The stock was bought at an average price of $38.59 per share, for a total transaction of $144,712.50. Following the purchase, the chief technology officer now directly owns 18,192 shares of the company’s stock, valued at approximately $702,029.28. The trade was a 25.97 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Douglas R. Lebda acquired 13,000 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was acquired at an average price of $39.72 per share, for a total transaction of $516,360.00. Following the purchase, the chief executive officer now directly owns 121,599 shares of the company’s stock, valued at approximately $4,829,912.28. This trade represents a 11.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 23.40% of the stock is currently owned by insiders.

Institutional Trading of LendingTree

Several hedge funds have recently added to or reduced their stakes in TREE. National Bank of Canada FI purchased a new position in LendingTree during the 3rd quarter valued at about $32,000. Point72 DIFC Ltd boosted its holdings in shares of LendingTree by 77.0% during 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 during the period. nVerses Capital LLC grew its holdings in LendingTree by 200.0% in the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the financial services provider’s stock worth $70,000 after buying an additional 800 shares in the last quarter. CWM LLC raised its holdings in LendingTree by 262.1% during the third quarter. CWM LLC now owns 2,180 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 1,578 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of LendingTree during the 3rd quarter valued at $203,000. Institutional investors and hedge funds own 68.26% of the company’s stock.

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.