LendingTree, Inc. (NASDAQ:TREE) Short Interest Update

LendingTree, Inc. (NASDAQ:TREE) was the target of a large decline in short interest in August. As of August 14th, there was short interest totaling 846,359 shares, a decline of 48.7% from the July 30th total of 1,651,293 shares. Based on an average daily volume of 572,934 shares, the days-to-cover ratio is currently 1.5 days. Currently, 6.3% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TREE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in LendingTree by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,598 shares of the financial services provider’s stock worth $1,188,000 after buying an additional 1,222 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of LendingTree by 43.6% during the 2nd quarter. Cetera Investment Advisers now owns 16,039 shares of the financial services provider’s stock valued at $595,000 after acquiring an additional 4,871 shares in the last quarter. Legal & General Group Plc increased its stake in shares of LendingTree by 12.7% in the second quarter. Legal & General Group Plc now owns 10,840 shares of the financial services provider’s stock worth $402,000 after acquiring an additional 1,223 shares during the last quarter. Rhumbline Advisers increased its stake in shares of LendingTree by 12.6% in the second quarter. Rhumbline Advisers now owns 16,754 shares of the financial services provider’s stock worth $621,000 after acquiring an additional 1,875 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of LendingTree by 9.3% during the second quarter. American Century Companies Inc. now owns 26,010 shares of the financial services provider’s stock worth $964,000 after acquiring an additional 2,217 shares in the last quarter. 68.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of LendingTree in a research report on Wednesday, June 24th. Truist Financial cut their target price on LendingTree from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Needham & Company LLC decreased their price target on LendingTree from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Zacks Research cut LendingTree from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, Northland Securities set a $60.00 price objective on LendingTree in a report on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $61.33.

LendingTree Stock Down 3.9%

Shares of LendingTree stock traded down $1.13 during midday trading on Monday, hitting $27.83. The company’s stock had a trading volume of 135,845 shares, compared to its average volume of 348,683. LendingTree has a 1-year low of $27.51 and a 1-year high of $77.35. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $390.73 million, a P/E ratio of 2.16 and a beta of 2.04. The stock has a 50-day simple moving average of $37.78 and a 200-day simple moving average of $39.60.

LendingTree (NASDAQ:TREE) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by ($0.73). LendingTree had a return on equity of 14.57% and a net margin of 14.33%.The business had revenue of $313.42 million during the quarter, compared to analysts’ expectations of $315.56 million. During the same period in the prior year, the company posted $1.13 earnings per share. The firm’s revenue was up 25.3% on a year-over-year basis. As a group, sell-side analysts expect that LendingTree will post 3.49 earnings per share for the current year.

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.