On Deck Capital Inc. (ONDK) Receives New Coverage from Analysts at Guggenheim
Research analysts at Guggenheim started coverage on shares of On Deck Capital Inc. (NYSE:ONDK) in a research note issued to investors on Tuesday. The firm set a “neutral” rating on the stock.
Several other equities research analysts also recently issued reports on ONDK. Macquarie started coverage on On Deck Capital in a research report on Thursday, May 26th. They issued an “outperform” rating and a $6.50 price target on the stock. Keefe, Bruyette & Woods downgraded On Deck Capital from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $6.50 to $6.00 in a research report on Tuesday, May 31st. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of On Deck Capital in a research report on Friday, June 10th. Morgan Stanley reaffirmed a “hold” rating on shares of On Deck Capital in a research report on Friday, June 10th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of On Deck Capital in a research report on Friday, June 10th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. On Deck Capital has an average rating of “Hold” and an average target price of $8.25.
On Deck Capital (NYSE:ONDK) traded up 1.18% during trading on Tuesday, hitting $6.02. The stock had a trading volume of 373,752 shares. The company’s market cap is $426.96 million. On Deck Capital has a 52 week low of $4.20 and a 52 week high of $12.85. The stock has a 50-day moving average price of $5.94 and a 200-day moving average price of $6.07.
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On Deck Capital (NYSE:ONDK) last posted its earnings results on Monday, August 8th. The company reported ($0.20) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.04. The firm had revenue of $69.50 million for the quarter, compared to the consensus estimate of $67.83 million. On Deck Capital had a negative net margin of 11.75% and a negative return on equity of 9.58%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. Equities analysts predict that On Deck Capital will post ($0.66) EPS for the current year.
In other news, CFO Howard Katzenberg sold 24,000 shares of On Deck Capital stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $5.23, for a total value of $125,520.00. Following the completion of the transaction, the chief financial officer now owns 388,396 shares in the company, valued at $2,031,311.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 35.80% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in shares of On Deck Capital by 118.4% in the second quarter. FMR LLC now owns 2,967,958 shares of the company’s stock worth $15,285,000 after buying an additional 1,609,000 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of On Deck Capital by 347.0% in the second quarter. BlackRock Fund Advisors now owns 1,240,505 shares of the company’s stock worth $6,389,000 after buying an additional 963,002 shares in the last quarter. SHANDA ASSET MANAGEMENT HOLDINGS Ltd bought a new stake in shares of On Deck Capital during the second quarter worth $4,311,000. Tricadia Capital Management LLC bought a new stake in shares of On Deck Capital during the second quarter worth $4,196,000. Finally, Clearline Capital LP bought a new stake in shares of On Deck Capital during the second quarter worth $3,680,000. 79.33% of the stock is owned by institutional investors and hedge funds.
About On Deck Capital
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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