LendingTree (NASDAQ:TREE) Rating Lowered to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded LendingTree from “buy” to “hold,” while Zacks Research also recently lowered its rating to “hold.”
• Despite the downgrades, analysts maintain a generally positive outlook: five rate the stock “buy,” two rate it “hold,” and the consensus target price is $61.33.
• LendingTree shares opened at $32.13, near the lower end of their 52-week range of $29.77 to $77.35; institutional investors own 68.26% of the company.

LendingTree (NASDAQ:TREE - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Several other equities research analysts have also issued reports on the stock. Northland Securities set a $60.00 price target on shares of LendingTree in a research note on Thursday, July 30th. JPMorgan Chase & Co. began coverage on LendingTree in a research note on Tuesday, April 14th. They issued an "overweight" rating and a $50.00 price objective on the stock. Keefe, Bruyette & Woods reduced their price objective on LendingTree from $70.00 to $58.00 and set an "outperform" rating for the company in a report on Monday, July 13th. Needham & Company LLC reduced their price objective on LendingTree from $60.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Finally, Zacks Research downgraded LendingTree from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 30th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, LendingTree presently has an average rating of "Moderate Buy" and a consensus target price of $61.33.

LendingTree Price Performance

TREE opened at $32.13 on Friday. The firm has a market cap of $451.11 million, a P/E ratio of 2.49 and a beta of 2.04. The firm has a 50-day moving average of $39.63 and a 200 day moving average of $42.41. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.89 and a current ratio of 1.85. LendingTree has a fifty-two week low of $29.77 and a fifty-two week high of $77.35.

Hedge Funds Weigh In On LendingTree

Several hedge funds have recently bought and sold shares of TREE. Financial Management Professionals Inc. purchased a new stake in shares of LendingTree in the fourth quarter worth $25,000. Fifth Third Bancorp bought a new position in LendingTree in the 4th quarter worth about $32,000. OP Asset Management Ltd purchased a new stake in shares of LendingTree in the 1st quarter valued at about $34,000. Tower Research Capital LLC TRC raised its holdings in shares of LendingTree by 281.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,120 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 826 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in shares of LendingTree in the 4th quarter valued at about $54,000. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source