On Deck Capital, Inc. (ONDK) Downgraded by Zacks Investment Research to Hold

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 morning.

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 equities analysts have also recently issued reports on ONDK. FBR & Co decreased their price objective on shares of On Deck Capital from $5.50 to $5.00 and set a mkt perform rating on the stock in a research report on Monday, May 8th. Stifel Nicolaus cut shares of On Deck Capital from a buy rating to a hold rating and decreased their price objective for the company from $6.00 to $4.50 in a research report on Tuesday, May 9th. Jefferies Group LLC decreased their price objective on shares of On Deck Capital from $5.40 to $5.00 and set a hold rating on the stock in a research report on Wednesday, May 10th. ValuEngine upgraded shares of On Deck Capital from a strong sell rating to a sell rating in a research report on Friday, June 2nd. Finally, BidaskClub cut shares of On Deck Capital from a sell rating to a strong sell rating in a research report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $5.66.

Shares of On Deck Capital (NYSE:ONDK) opened at 4.68 on Friday. On Deck Capital has a one year low of $3.29 and a one year high of $6.41. The firm’s 50-day moving average price is $4.61 and its 200-day moving average price is $4.52. The firm’s market capitalization is $342.26 million.

On Deck Capital (NYSE:ONDK) last released its quarterly earnings data on Monday, August 7th. The credit services provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.09. On Deck Capital had a negative net margin of 19.20% and a negative return on equity of 24.09%. The firm had revenue of $86.70 million for the quarter, compared to analysts’ expectations of $88.53 million. During the same quarter in the previous 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. On average, equities analysts forecast that On Deck Capital will post ($0.03) earnings per share for the current year.

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In related news, CRO Andrea Gellert sold 25,147 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $4.62, for a total transaction of $116,179.14. Following the transaction, the executive now owns 154,440 shares in the company, valued at $713,512.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 25.40% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Voya Investment Management LLC increased its position in shares of 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 buying an additional 6,202 shares during the period. American International Group Inc. increased its position in shares of On Deck Capital by 7.0% during the first quarter. American International Group Inc. now owns 29,534 shares of the credit services provider’s stock valued at $149,000 after buying an additional 1,940 shares during the period. JPMorgan Chase & Co. increased its position in shares of On Deck Capital by 58.2% during the second quarter. JPMorgan Chase & Co. now owns 31,951 shares of the credit services provider’s stock valued at $149,000 after buying an additional 11,751 shares during the period. Nationwide Fund Advisors increased its position in shares of On Deck Capital by 13.4% during the second quarter. Nationwide Fund Advisors now owns 33,891 shares of the credit services provider’s stock valued at $158,000 after buying an additional 4,010 shares during the period. Finally, Alpine Woods Capital Investors LLC increased its position in shares of On Deck Capital by 40.0% during the second quarter. Alpine Woods Capital Investors LLC now owns 35,010 shares of the credit services provider’s stock valued at $163,000 after buying an additional 10,000 shares during the period. Institutional investors own 53.78% of the company’s stock.

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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Analyst Recommendations for On Deck Capital (NYSE:ONDK)

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