HighTower Advisors LLC Takes Position in LendingTree, Inc. (NASDAQ:TREE)

HighTower Advisors LLC purchased a new stake in LendingTree, Inc. (NASDAQ:TREE) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 3,587 shares of the financial services provider’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Emerald Advisers LLC lifted its position in shares of LendingTree by 3.0% during the 3rd quarter. Emerald Advisers LLC now owns 356,389 shares of the financial services provider’s stock worth $20,681,000 after buying an additional 10,497 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of LendingTree by 25.0% during the second quarter. Renaissance Technologies LLC now owns 292,900 shares of the financial services provider’s stock valued at $12,182,000 after purchasing an additional 58,500 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its holdings in shares of LendingTree by 9.3% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 280,731 shares of the financial services provider’s stock worth $11,676,000 after purchasing an additional 23,995 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of LendingTree by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 88,206 shares of the financial services provider’s stock valued at $5,119,000 after buying an additional 2,602 shares during the period. Finally, AQR Capital Management LLC raised its holdings in LendingTree by 4.0% in the 2nd quarter. AQR Capital Management LLC now owns 71,120 shares of the financial services provider’s stock valued at $2,898,000 after buying an additional 2,707 shares during the last quarter. 68.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TREE has been the subject of several recent research reports. Susquehanna upped their price target on shares of LendingTree from $50.00 to $58.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Oppenheimer raised their target price on LendingTree from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial upped their price target on LendingTree from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com lowered LendingTree from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Finally, Needham & Company LLC increased their target price on shares of LendingTree from $67.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

LendingTree Stock Up 0.4 %

LendingTree stock opened at $38.44 on Thursday. 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 has a market capitalization of $513.64 million, a PE ratio of -14.24 and a beta of 2.03. The firm’s fifty day moving average is $46.47 and its 200 day moving average is $49.19. LendingTree, Inc. has a 12-month low of $24.55 and a 12-month high of $62.49.

Insider Activity at LendingTree

In other LendingTree news, General Counsel Heather Enlow-Novitsky sold 564 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $52.54, for a total value of $29,632.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Scott V. Totman bought 3,750 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were acquired at an average cost of $38.59 per share, with a total value of $144,712.50. Following the completion of the transaction, the chief technology officer now owns 18,192 shares in the company, valued at approximately $702,029.28. The trade was a 25.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 23.40% of the stock is currently owned by insiders.

LendingTree Profile

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.