LendingTree, Inc. (NASDAQ:TREE) Sees Significant Decline in Short Interest

LendingTree, Inc. (NASDAQ:TREE) saw a large decrease in short interest in August. As of August 14th, there was short interest totaling 846,359 shares, a decrease of 48.7% from the July 30th total of 1,651,293 shares. Based on an average trading volume of 572,934 shares, the short-interest ratio is presently 1.5 days. Approximately 6.3% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TREE shares. Needham & Company LLC decreased their target price on shares of LendingTree from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Truist Financial dropped their price target on LendingTree from $78.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Wall Street Zen raised LendingTree from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of LendingTree in a research report on Wednesday, June 24th. Finally, Zacks Research lowered LendingTree from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, LendingTree currently has an average rating of “Moderate Buy” and an average target price of $61.33.

Hedge Funds Weigh In On LendingTree

Several large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of LendingTree during the 2nd quarter worth about $54,329,000. Punch & Associates Investment Management Inc. acquired a new position in LendingTree in the second quarter valued at about $32,140,000. Jennison Associates LLC acquired a new position in LendingTree in the fourth quarter valued at about $31,120,000. California State Teachers Retirement System boosted its stake in LendingTree by 4,886.3% during the second quarter. California State Teachers Retirement System now owns 540,914 shares of the financial services provider’s stock worth $23,957,000 after buying an additional 530,066 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in LendingTree by 1,747.8% during the second quarter. Ameriprise Financial Inc. now owns 546,536 shares of the financial services provider’s stock worth $20,260,000 after buying an additional 516,958 shares during the period. Institutional investors and hedge funds own 68.26% of the company’s stock.

LendingTree Stock Up 2.4%

Shares of NASDAQ TREE opened at $28.96 on Friday. The company has a 50 day simple moving average of $37.78 and a 200-day simple moving average of $39.64. The company has a market capitalization of $406.60 million, a P/E ratio of 2.24 and a beta of 2.04. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.85 and a quick ratio of 1.85. LendingTree has a 1 year low of $27.70 and a 1 year high of $77.35.

LendingTree (NASDAQ:TREE) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.73). The business had revenue of $313.42 million during the quarter, compared to analyst estimates of $315.56 million. LendingTree had a net margin of 14.33% and a return on equity of 14.57%. The company’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.13 earnings per share. On average, equities research analysts predict that LendingTree will post 3.49 earnings per share for the current year.

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.