LendingTree (NASDAQ:TREE) Stock Price Down 7.4% – Here’s What Happened

LendingTree, Inc. (NASDAQ:TREE)’s stock price fell 7.4% during trading on Monday . The stock traded as low as $57.21 and last traded at $58.25. 57,608 shares were traded during mid-day trading, a decline of 67% from the average session volume of 172,295 shares. The stock had previously closed at $62.91.

Analyst Upgrades and Downgrades

TREE has been the subject of several recent analyst reports. Needham & Company LLC upped their target price on LendingTree from $70.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of LendingTree in a research report on Monday, December 29th. Wall Street Zen cut LendingTree from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 10th. JPMorgan Chase & Co. boosted their price target on shares of LendingTree from $66.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Finally, Truist Financial raised their price objective on shares of LendingTree from $62.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $74.29.

LendingTree Price Performance

The firm has a 50 day moving average price of $54.00 and a two-hundred day moving average price of $56.29. The company has a market cap of $804.13 million, a P/E ratio of 58.24 and a beta of 2.08. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.43 and a current ratio of 1.43.

LendingTree (NASDAQ:TREE) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.23 by $0.47. The business had revenue of $290.62 million for the quarter, compared to the consensus estimate of $278.36 million. LendingTree had a net margin of 1.34% and a return on equity of 36.30%. The company’s revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 earnings per share. On average, analysts predict that LendingTree, Inc. will post 0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On LendingTree

Several institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB purchased a new position in shares of LendingTree during the 2nd quarter valued at $882,000. Harbor Capital Advisors Inc. bought a new stake in LendingTree during the second quarter valued at $7,337,000. Blue Grotto Capital LLC grew its position in LendingTree by 27.3% during the second quarter. Blue Grotto Capital LLC now owns 382,610 shares of the financial services provider’s stock worth $14,183,000 after buying an additional 82,131 shares in the last quarter. Geode Capital Management LLC increased its stake in LendingTree by 7.3% in the 2nd quarter. Geode Capital Management LLC now owns 267,264 shares of the financial services provider’s stock worth $9,909,000 after acquiring an additional 18,207 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in LendingTree in the 2nd quarter worth about $3,254,000. Hedge funds and other institutional investors own 68.26% of the company’s stock.

LendingTree Company Profile

LendingTree, Inc operates an online marketplace that connects consumers with a network of lenders and financial service providers. Through its platform, borrowers can compare loan offers for mortgages, home equity loans, personal loans, student loans, auto loans and small business financing. The company also offers tools for comparing credit cards and deposit accounts, allowing users to research rates and terms from a range of providers in one place.

Founded in 1996 by Doug Lebda, LendingTree pioneered the comparison-shopping model for consumer credit products.