LendingTree, Inc. (NASDAQ:TREE) Short Interest Update
by Sarita Garza · The Markets DailyLendingTree, Inc. (NASDAQ:TREE – Get Free Report) was the recipient of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 960,382 shares, a drop of 27.8% from the February 26th total of 1,329,332 shares. Currently, 9.0% of the shares of the company are short sold. Based on an average daily volume of 562,515 shares, the days-to-cover ratio is presently 1.7 days.
Wall Street Analyst Weigh In
Several research firms recently weighed in on TREE. Wall Street Zen cut LendingTree from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 15th. Zacks Research cut LendingTree from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Needham & Company LLC dropped their price objective on LendingTree from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of LendingTree in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods decreased their target price on LendingTree from $83.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, March 4th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.00.
Read Our Latest Research Report on TREE
LendingTree Stock Up 1.2%
TREE traded up $0.48 on Monday, reaching $42.20. 253,826 shares of the company traded hands, compared to its average volume of 407,278. The company has a market cap of $584.89 million, a price-to-earnings ratio of 3.93 and a beta of 2.21. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.67 and a quick ratio of 1.67. The stock’s 50 day moving average price is $45.76 and its 200-day moving average price is $54.20. LendingTree has a 52-week low of $32.65 and a 52-week high of $77.35.
LendingTree (NASDAQ:TREE – Get Free Report) last announced its quarterly earnings results on Monday, March 2nd. The financial services provider reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($1.29). The firm had revenue of $310.92 million for the quarter, compared to analyst estimates of $286.56 million. LendingTree had a net margin of 13.55% and a return on equity of 12.44%. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. On average, sell-side analysts expect that LendingTree will post 0.48 EPS for the current fiscal year.
Hedge Funds Weigh In On LendingTree
A number of institutional investors have recently modified their holdings of TREE. Financial Management Professionals Inc. bought a new stake in shares of LendingTree in the 4th quarter worth approximately $25,000. Farther Finance Advisors LLC increased its position in shares of LendingTree by 272.6% during the third quarter. Farther Finance Advisors LLC now owns 462 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 338 shares during the period. Fifth Third Bancorp acquired a new position in shares of LendingTree in the fourth quarter valued at $32,000. State of Alaska Department of Revenue bought a new position in LendingTree in the third quarter worth $35,000. Finally, Ameritas Investment Partners Inc. lifted its position in LendingTree by 25.2% in the second quarter. Ameritas Investment Partners Inc. now owns 1,141 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 230 shares during the period. Institutional investors own 68.26% of the company’s stock.
About LendingTree
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.