LendingTree (NASDAQ:TREE) Sets New 1-Year High - Time to Buy?

Key Points

• LendingTree's stock price reached a new 52-week high at $62.98, closing slightly lower at $62.95 with a trading volume of 13,708 shares.
• Analysts have upgraded LendingTree's stock, with a consensus rating of "Buy" and an average price target of $65.38, following recent performance improvements.
• The company reported a quarterly earnings per share (EPS) of $1.13, exceeding estimates, along with a 19% year-over-year revenue growth to $250.10 million.

LendingTree, Inc. (NASDAQ:TREE - Get Free Report)'s stock price reached a new 52-week high on Friday . The company traded as high as $62.98 and last traded at $62.95, with a volume of 13708 shares. The stock had previously closed at $62.00.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Needham & Company LLC raised their price target on shares of LendingTree from $62.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Truist Financial set a $62.00 price objective on shares of LendingTree and gave the company a "buy" rating in a research report on Monday, August 4th. Finally, Wall Street Zen raised shares of LendingTree from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 10th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $65.38.

LendingTree Stock Performance

The stock has a market cap of $857.28 million, a price-to-earnings ratio of -15.51 and a beta of 1.58. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 3.26. The company has a 50 day simple moving average of $42.17 and a 200 day simple moving average of $43.31.

LendingTree (NASDAQ:TREE - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.04. LendingTree had a positive return on equity of 25.79% and a negative net margin of 5.33%. The business had revenue of $250.10 million for the quarter, compared to analysts' expectations of $244.03 million. LendingTree's revenue for the quarter was up 19.0% on a year-over-year basis. As a group, equities research analysts forecast that LendingTree, Inc. will post 0.48 EPS for the current year.

Insider Activity

In related news, General Counsel Heather Enlow-Novitsky sold 1,250 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $36.24, for a total value of $45,300.00. Following the sale, the general counsel directly owned 2,028 shares of the company's stock, valued at $73,494.72. This represents a 38.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 23.10% of the company's stock.

Institutional Investors Weigh In On LendingTree

A number of institutional investors and hedge funds have recently modified their holdings of TREE. Boothbay Fund Management LLC grew its stake in LendingTree by 66.9% during the 2nd quarter. Boothbay Fund Management LLC now owns 67,681 shares of the financial services provider's stock worth $2,509,000 after buying an additional 27,129 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in LendingTree in the second quarter valued at $1,149,000. Blue Grotto Capital LLC increased its position in shares of LendingTree by 27.3% during the second quarter. Blue Grotto Capital LLC now owns 382,610 shares of the financial services provider's stock worth $14,183,000 after purchasing an additional 82,131 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings 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 valued at $20,260,000 after purchasing an additional 516,958 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of LendingTree by 6.3% during the 2nd quarter. Raymond James Financial Inc. now owns 34,540 shares of the financial services provider's stock worth $1,280,000 after acquiring an additional 2,035 shares in the last quarter. 68.26% of the stock is owned by institutional investors.

LendingTree Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.