Should You Buy Lendingtree Inc (TREE)?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually cashed in their positions entirely. Interestingly, John Burbank’s Passport Capital cashed in the biggest position of the 700 funds watched by Insider Monkey, totaling an estimated $23.9 million in call options, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund sold off about $7.2 million worth of shares.

Let’s also examine hedge fund activity in other stocks similar to Lendingtree Inc (NASDAQ:TREE). We will take a look at GasLog Ltd (NYSE:GLOG), Benchmark Electronics, Inc. (NYSE:BHE), Cato Corp (NYSE:CATO), and Universal Electronics Inc (NASDAQ:UEIC). This group of stocks’ market caps resemble TREE’s market cap.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $78 million. That figure was $110 million in TREE’s case. Benchmark Electronics, Inc. (NYSE:BHE) is the most popular stock in this table. On the other hand GasLog Ltd (NYSE:GLOG) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks Lendingtree Inc (NASDAQ:TREE) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None