Wealth Enhancement Advisory Services LLC Takes Position in LendingTree, Inc. (NASDAQ:TREE)

Wealth Enhancement Advisory Services LLC acquired a new stake in LendingTree, Inc. (NASDAQ:TREE) in the third quarter, Holdings Channel.com reports. The firm acquired 3,503 shares of the financial services provider’s stock, valued at approximately $203,000.

Other hedge funds also recently bought and sold shares of the company. Hennessy Advisors Inc. bought a new position in LendingTree in the 2nd quarter valued at $8,380,000. Acadian Asset Management LLC grew its position in LendingTree by 53.9% during the first quarter. Acadian Asset Management LLC now owns 256,719 shares of the financial services provider’s stock worth $10,868,000 after buying an additional 89,900 shares in the last quarter. Renaissance Technologies LLC increased its stake in LendingTree by 25.0% in the 2nd quarter. Renaissance Technologies LLC now owns 292,900 shares of the financial services provider’s stock worth $12,182,000 after acquiring an additional 58,500 shares during the last quarter. ClariVest Asset Management LLC purchased a new stake in shares of LendingTree in the 2nd quarter valued at about $1,360,000. Finally, Emerald Mutual Fund Advisers Trust boosted its position in shares of LendingTree by 9.3% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 280,731 shares of the financial services provider’s stock valued at $11,676,000 after acquiring an additional 23,995 shares during the last quarter. Hedge funds and other institutional investors own 68.26% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Heather Enlow-Novitsky sold 564 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $52.54, for a total transaction of $29,632.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 23.40% of the company’s stock.

Analyst Ratings Changes

TREE has been the topic of a number of recent analyst reports. Stephens raised their target price on shares of LendingTree from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Susquehanna increased their target price on LendingTree from $50.00 to $58.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Northland Securities upped their price objective on LendingTree from $50.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods raised their price objective on LendingTree from $71.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Truist Financial boosted their target price on LendingTree from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, LendingTree currently has an average rating of “Moderate Buy” and an average price target of $64.00.

LendingTree Price Performance

Shares of LendingTree stock opened at $54.01 on Wednesday. The stock has a market capitalization of $721.57 million, a P/E ratio of -19.87 and a beta of 2.11. LendingTree, Inc. has a one year low of $13.87 and a one year high of $62.49. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.92 and a quick ratio of 1.82. The business’s 50 day simple moving average is $55.22 and its two-hundred day simple moving average is $49.82.

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.