LendingTree (NASDAQ:TREE) Reaches New 12-Month Low – What’s Next?

LendingTree, Inc. (NASDAQ:TREE) shares hit a new 52-week low during trading on Monday . The company traded as low as $32.97 and last traded at $33.24, with a volume of 727949 shares changing hands. The stock had previously closed at $38.95.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TREE shares. Zacks Research downgraded shares of LendingTree from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Truist Financial raised their target price on LendingTree from $62.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Wall Street Zen lowered shares of LendingTree from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 10th. Needham & Company LLC lifted their price target on LendingTree from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of LendingTree from $66.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, LendingTree has an average rating of “Moderate Buy” and an average price target of $76.67.

LendingTree Trading Down 14.7%

The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 2.93. The firm has a market cap of $454.39 million, a P/E ratio of 32.91 and a beta of 2.13. The firm’s 50-day simple moving average is $52.86 and its 200 day simple moving average is $58.39.

Institutional Trading of LendingTree

Institutional investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. bought a new position in shares of LendingTree in the fourth quarter worth approximately $25,000. Farther Finance Advisors LLC increased its holdings in shares of LendingTree by 272.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 462 shares of the financial services provider’s stock worth $30,000 after buying an additional 338 shares during the last quarter. Fifth Third Bancorp bought a new position in shares of LendingTree in the 4th quarter worth $32,000. State of Alaska Department of Revenue purchased a new stake in shares of LendingTree during the 3rd quarter valued at $35,000. Finally, Ameritas Investment Partners Inc. grew 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 acquiring an additional 230 shares in the last quarter. 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.