LendingTree (NASDAQ:TREE) Downgraded to “Buy” Rating by StockNews.com

LendingTree (NASDAQ:TREE) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other research analysts have also issued reports on the stock. Needham & Company LLC cut their target price on shares of LendingTree from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday. Keefe, Bruyette & Woods reduced their target price on LendingTree from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Northland Capmk raised LendingTree from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 21st. Stephens reissued an “overweight” rating and issued a $69.00 price objective on shares of LendingTree in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. upped their target price on LendingTree from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $65.38.

LendingTree Price Performance

TREE stock opened at $43.22 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.67. The company’s fifty day simple moving average is $46.90 and its 200 day simple moving average is $45.10. LendingTree has a 12-month low of $34.55 and a 12-month high of $62.49. The firm has a market cap of $584.98 million, a price-to-earnings ratio of -16.01 and a beta of 1.76.

LendingTree (NASDAQ:TREE) last released its earnings results on Thursday, May 1st. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.74 by $0.25. The business had revenue of $239.70 million during the quarter, compared to analysts’ expectations of $244.93 million. LendingTree had a positive return on equity of 0.51% and a negative net margin of 4.72%. The business’s quarterly revenue was up 42.8% compared to the same quarter last year. On average, analysts expect that LendingTree will post 0.48 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Scott Peyree purchased 9,794 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $46.13 per share, with a total value of $451,797.22. Following the completion of the transaction, the chief operating officer now directly owns 97,566 shares of the company’s stock, valued at approximately $4,500,719.58. This trade represents a 11.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 23.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LendingTree

Several hedge funds have recently modified their holdings of the company. New Age Alpha Advisors LLC bought a new stake in LendingTree during the fourth quarter worth $36,000. Tower Research Capital LLC TRC increased its position in shares of LendingTree by 248.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,190 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 848 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in shares of LendingTree during the 4th quarter worth $54,000. CANADA LIFE ASSURANCE Co purchased a new position in shares of LendingTree in the 4th quarter worth about $56,000. Finally, KLP Kapitalforvaltning AS bought a new position in LendingTree during the fourth quarter valued at about $70,000. 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.