LendingTree (NASDAQ:TREE) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

LendingTree, Inc. (NASDAQ:TREE)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $55.82 and traded as high as $55.91. LendingTree shares last traded at $55.74, with a volume of 158,224 shares trading hands.

Analyst Upgrades and Downgrades

TREE has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on shares of LendingTree from $66.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Oppenheimer set a $85.00 target price on shares of LendingTree and gave the stock an “outperform” rating in a research report on Friday, October 31st. Zacks Research cut LendingTree from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. Wall Street Zen lowered shares of LendingTree from a “strong-buy” rating to a “buy” rating in a report on Monday, November 10th. Finally, Truist Financial raised their price target on LendingTree from $62.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $74.29.

LendingTree Trading Up 4.7%

The stock’s fifty day moving average price is $54.03 and its 200 day moving average price is $55.82. The stock has a market cap of $762.02 million, a P/E ratio of 55.19 and a beta of 2.08. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.93.

LendingTree (NASDAQ:TREE) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.47. LendingTree had a net margin of 1.34% and a return on equity of 36.30%. The company had revenue of $290.62 million during the quarter, compared to analyst estimates of $278.36 million. During the same period last year, the business earned $0.80 EPS. LendingTree’s quarterly revenue was up 18.0% compared to the same quarter last year. Equities research analysts expect that LendingTree, Inc. will post 0.48 earnings per share for the current year.

Institutional Trading of LendingTree

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. grew its position in LendingTree by 1,747.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 546,536 shares of the financial services provider’s stock worth $20,260,000 after purchasing an additional 516,958 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of LendingTree by 1,163.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 263,835 shares of the financial services provider’s stock worth $17,078,000 after buying an additional 242,947 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of LendingTree in the second quarter worth $7,337,000. G2 Investment Partners Management LLC boosted its holdings in shares of LendingTree by 69.0% in the second quarter. G2 Investment Partners Management LLC now owns 305,573 shares of the financial services provider’s stock worth $11,328,000 after buying an additional 124,806 shares during the last quarter. Finally, Two Sigma Investments LP bought a new position in LendingTree in the 3rd quarter worth $6,153,000. 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.