Tree.com to buy back $10 million in stock

Charlotte-based Tree.com, the parent company of online mortgage comparison tool LendingTree, announced Thursday that it's board has approved another $10 million in common stock repurchases.

That comes on top of an earlier $10 million buy-back authorization. The company has bought back $2 million so far under that program.

Tree.com did not say when and how quickly it would buy back the shares. The company has about 11.3 million shares outstanding and $89.5 million in cash on hand.

Shares closed at $23.86 on Thursday, significantly below its 52-week high of $35.05.