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

LendingTree, Inc. (NASDAQ:TREE) 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.

Analysts Set New Price Targets

TREE has been the subject of several research reports. Northland Capmk raised shares of LendingTree from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods upped their target price on shares of LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Needham & Company LLC boosted their price target on LendingTree from $67.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Oppenheimer raised their price objective on LendingTree from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, 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 report on Tuesday. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, LendingTree currently has an average rating of “Moderate Buy” and an average target price of $64.00.

LendingTree Trading Down 1.8 %

The firm has a 50-day moving average of $40.76 and a two-hundred day moving average of $48.82. The firm has a market capitalization of $567.93 million, a P/E ratio of -15.74 and a beta of 2.06. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.67.

Insiders Place Their Bets

In other LendingTree news, CTO Scott V. Totman purchased 3,750 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were bought at an average price of $38.59 per share, for a total transaction of $144,712.50. Following the completion of the acquisition, the chief technology officer now owns 18,192 shares in the company, valued at approximately $702,029.28. This trade represents a 25.97 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas R. Lebda bought 13,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were bought at an average cost of $39.72 per share, with a total value of $516,360.00. Following the completion of the transaction, the chief executive officer now owns 121,599 shares in the company, valued at $4,829,912.28. The trade was a 11.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 23.40% of the company’s stock.

Institutional Trading of LendingTree

Institutional investors have recently bought and sold shares of the company. National Bank of Canada FI bought a new position in LendingTree during the third quarter worth $32,000. Point72 DIFC Ltd boosted its position in shares of LendingTree by 77.0% during the 3rd quarter. Point72 DIFC Ltd now owns 1,147 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 499 shares in the last quarter. nVerses Capital LLC grew its stake in shares of LendingTree by 200.0% in the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the financial services provider’s stock valued at $70,000 after buying an additional 800 shares during the period. CWM LLC increased its position in LendingTree by 262.1% in the 3rd quarter. CWM LLC now owns 2,180 shares of the financial services provider’s stock valued at $127,000 after buying an additional 1,578 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in LendingTree during the 3rd quarter worth approximately $203,000. 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.