LendingTree, Inc. (NASDAQ:TREE) Short Interest Down 48.7% in August

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

LendingTree Stock Performance

Shares of NASDAQ TREE opened at $28.96 on Friday. The company has a market capitalization of $406.60 million, a PE ratio of 2.24 and a beta of 2.04. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.85 and a current ratio of 1.85. The company’s fifty day moving average price is $37.78 and its 200 day moving average price is $39.64. LendingTree has a 1 year low of $27.70 and a 1 year high of $77.35.

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

Hedge Funds Weigh In On LendingTree

Several institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of LendingTree by 1.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,899 shares of the financial services provider’s stock valued at $886,000 after acquiring an additional 301 shares in the last quarter. Swiss National Bank increased its position in shares of LendingTree by 2.2% during the fourth quarter. Swiss National Bank now owns 22,800 shares of the financial services provider’s stock worth $1,210,000 after purchasing an additional 500 shares in the last quarter. Fifth Third Bancorp acquired a new position in LendingTree in the 4th quarter valued at $32,000. Price T Rowe Associates Inc. MD raised its stake in LendingTree by 5.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,398 shares of the financial services provider’s stock valued at $606,000 after purchasing an additional 612 shares during the last quarter. Finally, Creative Planning lifted its holdings in LendingTree by 12.4% in the 3rd quarter. Creative Planning now owns 6,450 shares of the financial services provider’s stock valued at $418,000 after purchasing an additional 710 shares in the last quarter. Hedge funds and other institutional investors own 68.26% of the company’s stock.

Wall Street Analysts Forecast Growth

TREE has been the topic of several recent research reports. Truist Financial lowered their price target on shares of LendingTree from $78.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Keefe, Bruyette & Woods reduced their price objective on LendingTree from $70.00 to $58.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Wall Street Zen raised LendingTree from a “hold” rating to a “buy” rating in a report on Saturday. Needham & Company LLC lowered their target price on LendingTree from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, Zacks Research lowered LendingTree from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, LendingTree currently has an average rating of “Moderate Buy” and a consensus price target of $61.33.

Read Our Latest Stock Analysis on LendingTree

LendingTree Company Profile

(Get Free Report)

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.

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