Zacks Investment Research downgraded shares of On Deck Capital, Inc. (NYSE:ONDK) from a buy rating to a hold rating in a report published on Saturday.
According to Zacks, “On Deck Capital, Inc. is an on-line platform that uses a big data, analytic model to source, underwrite, and fund loans to small businesses. The Company offers online tools and resources including data aggregation and electronic payment technology, and to evaluate the health of small businesses. It’s small business loans include dental loans, restaurant loans, medical financing, restaurant financing, fast small business loans, fast small business financing, online small business loans, online applications for small business loans, small business loans online, retail capital, fast small business financing, short-term business loans, business equipment financing, small business equipment financing and merchant cash advance. On Deck Capital Inc. is based in United States. “
A number of other research analysts also recently issued reports on the company. Jefferies Group LLC decreased their price objective on On Deck Capital from $5.40 to $5.00 and set a hold rating for the company in a report on Wednesday, May 10th. BidaskClub downgraded On Deck Capital from a sell rating to a strong sell rating in a report on Wednesday, July 19th. FBR & Co upgraded On Deck Capital from a market perform rating to an outperform rating and set a $5.00 price objective for the company in a report on Tuesday, May 23rd. ValuEngine upgraded On Deck Capital from a strong sell rating to a sell rating in a report on Friday, June 2nd. Finally, Stifel Nicolaus downgraded On Deck Capital from a buy rating to a hold rating and decreased their price objective for the stock from $6.00 to $4.50 in a report on Tuesday, May 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. On Deck Capital currently has a consensus rating of Hold and an average price target of $5.66.
Shares of On Deck Capital (NYSE:ONDK) opened at 4.74 on Friday. The firm’s market capitalization is $346.65 million. The stock’s 50 day moving average price is $4.61 and its 200 day moving average price is $4.55. On Deck Capital has a one year low of $3.29 and a one year high of $6.46.
On Deck Capital (NYSE:ONDK) last announced its quarterly earnings results on Monday, August 7th. The credit services provider reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.09. On Deck Capital had a negative return on equity of 24.09% and a negative net margin of 19.20%. The company had revenue of $86.70 million during the quarter, compared to the consensus estimate of $88.53 million. During the same period in the prior year, the company earned ($0.25) earnings per share. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. Analysts expect that On Deck Capital will post ($0.03) EPS for the current fiscal year.
In related news, CRO Andrea Gellert sold 25,147 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $4.62, for a total transaction of $116,179.14. Following the completion of the transaction, the executive now directly owns 154,440 shares of the company’s stock, valued at $713,512.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 25.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd acquired a new position in On Deck Capital during the second quarter valued at approximately $182,000. The Manufacturers Life Insurance Company boosted its position in On Deck Capital by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 45,293 shares of the credit services provider’s stock valued at $211,000 after purchasing an additional 3,262 shares during the last quarter. State Street Corp boosted its position in On Deck Capital by 10.6% during the second quarter. State Street Corp now owns 814,082 shares of the credit services provider’s stock valued at $3,794,000 after purchasing an additional 78,345 shares during the last quarter. Voya Investment Management LLC boosted its position in On Deck Capital by 28.4% during the second quarter. Voya Investment Management LLC now owns 28,067 shares of the credit services provider’s stock valued at $131,000 after purchasing an additional 6,202 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in On Deck Capital by 135.8% during the second quarter. Dimensional Fund Advisors LP now owns 399,386 shares of the credit services provider’s stock valued at $1,862,000 after purchasing an additional 230,016 shares during the last quarter. 53.78% of the stock is owned by hedge funds and other institutional investors.
On Deck Capital Company Profile
On Deck Capital, Inc offers an online platform for small business lending. The Company’s platform aggregates and analyzes data points from disparate data sources to assess the creditworthiness of small businesses. Small businesses apply for a term loan or line of credit on the Company’s Website, and using its OnDeck Score, the Company makes a funding decision and transfers the funds.
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