Investment analysts at Northland Securities initiated coverage on shares of LendingTree (NASDAQ:TREE) in a research report issued on Thursday, The Fly reports. The firm set a “sell” rating and a $200.00 price target on the financial services provider’s stock. Northland Securities’ price objective indicates a potential downside of 10.03% from the stock’s current price.
A number of other equities research analysts also recently commented on TREE. Deutsche Bank Aktiengesellschaft upped their price objective on LendingTree from $360.00 to $365.00 and gave the company a “buy” rating in a report on Wednesday, January 13th. Truist decreased their target price on LendingTree from $335.00 to $350.00 in a research note on Thursday, February 25th. Finally, JPMorgan Chase & Co. boosted their target price on LendingTree from $330.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, March 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. LendingTree currently has a consensus rating of “Buy” and a consensus price target of $311.31.
NASDAQ TREE traded down $6.97 on Thursday, reaching $222.29. The company had a trading volume of 5,566 shares, compared to its average volume of 281,387. The stock’s 50 day moving average is $250.87 and its 200-day moving average is $289.33. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of -75.66 and a beta of 1.75. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 1.67. LendingTree has a 52 week low of $175.01 and a 52 week high of $372.64.
In related news, Director G Kennedy Thompson purchased 1,500 shares of LendingTree stock in a transaction that occurred on Monday, March 1st. The stock was purchased at an average cost of $272.32 per share, with a total value of $408,480.00. Following the completion of the transaction, the director now owns 4,845 shares of the company’s stock, valued at approximately $1,319,390.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Neil Salvage sold 1,100 shares of the stock in a transaction that occurred on Friday, March 5th. The shares were sold at an average price of $239.00, for a total value of $262,900.00. Following the transaction, the president now directly owns 5,004 shares of the company’s stock, valued at $1,195,956. The disclosure for this sale can be found here. 17.90% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its position in LendingTree by 15.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,141,653 shares of the financial services provider’s stock valued at $312,573,000 after purchasing an additional 150,070 shares during the last quarter. Nikko Asset Management Americas Inc. raised its stake in LendingTree by 15.4% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 1,141,653 shares of the financial services provider’s stock valued at $312,573,000 after buying an additional 152,651 shares during the period. BlackRock Inc. raised its stake in LendingTree by 45.3% in the fourth quarter. BlackRock Inc. now owns 1,016,389 shares of the financial services provider’s stock valued at $278,276,000 after buying an additional 316,744 shares during the period. Norges Bank bought a new stake in LendingTree in the fourth quarter valued at approximately $26,713,000. Finally, Northern Trust Corp raised its stake in LendingTree by 31.4% in the fourth quarter. Northern Trust Corp now owns 85,762 shares of the financial services provider’s stock valued at $23,480,000 after buying an additional 20,515 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.
LendingTree Company Profile
LendingTree, Inc, through its subsidiary, LT Intermediate Company, LLC, 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, reverse mortgage, and home equity loans; lines of credit; and real estate brokerage services.
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