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

Wall Street Zen downgraded shares of LendingTree (NASDAQ:TREE) from a buy rating to a hold rating in a research note released on Saturday morning.

Several other research analysts have also weighed in on TREE. Truist Financial lowered their target price on shares of LendingTree from $78.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Zacks Research lowered shares of LendingTree from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Needham & Company LLC lowered their price objective on shares of LendingTree from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. JPMorgan Chase & Co. started coverage on shares of LendingTree in a report on Tuesday, April 14th. They issued an “overweight” rating and a $50.00 target price for the company. Finally, Northland Securities set a $60.00 target price on LendingTree in a research report on Thursday, July 30th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, LendingTree has a consensus rating of “Moderate Buy” and an average price target of $61.33.

LendingTree Stock Up 0.5%

Shares of NASDAQ:TREE opened at $32.28 on Friday. The company has a market capitalization of $453.21 million, a price-to-earnings ratio of 2.50 and a beta of 2.04. LendingTree has a 12-month low of $29.77 and a 12-month high of $77.35. The business has a 50-day moving average price of $39.48 and a 200 day moving average price of $42.00. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.20.

Hedge Funds Weigh In On LendingTree

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership increased its holdings in LendingTree by 33.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 274,366 shares of the financial services provider’s stock worth $11,765,000 after purchasing an additional 68,466 shares during the period. Jennison Associates LLC acquired a new stake in LendingTree in the 4th quarter valued at about $31,120,000. Punch & Associates Investment Management Inc. boosted its stake in shares of LendingTree by 37.8% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 647,038 shares of the financial services provider’s stock valued at $27,745,000 after buying an additional 177,391 shares during the period. Jacobs Asset Management LLC purchased a new position in shares of LendingTree in the 1st quarter valued at about $643,000. Finally, Evolve Private Wealth LLC acquired a new position in shares of LendingTree during the first quarter worth about $619,000. 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.