On Deck Capital (ONDK) Downgraded to “Sell” at ValuEngine

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ValuEngine lowered shares of On Deck Capital (NYSE:ONDK) from a hold rating to a sell rating in a report released on Friday, March 22nd, ValuEngine reports.

ONDK has been the subject of several other research reports. Zacks Investment Research downgraded On Deck Capital from a buy rating to a hold rating in a report on Thursday, February 14th. B. Riley reaffirmed a buy rating and set a $12.00 price target (down previously from $14.00) on shares of On Deck Capital in a report on Wednesday, February 13th. Maxim Group cut On Deck Capital from a buy rating to a hold rating in a research report on Wednesday, February 13th. Finally, UBS Group upgraded On Deck Capital from a neutral rating to a buy rating and increased their price objective for the stock from $9.00 to $11.00 in a research report on Wednesday, November 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $9.25.

Shares of NYSE ONDK traded up $0.04 during trading hours on Friday, hitting $5.24. The company had a trading volume of 316,492 shares, compared to its average volume of 398,290. On Deck Capital has a 1-year low of $5.11 and a 1-year high of $9.41. The company has a market cap of $394.72 million, a PE ratio of 12.19 and a beta of 1.81. The company has a current ratio of 27.45, a quick ratio of 27.45 and a debt-to-equity ratio of 2.68.

On Deck Capital (NYSE:ONDK) last announced its quarterly earnings results on Tuesday, February 12th. The credit services provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. On Deck Capital had a return on equity of 11.80% and a net margin of 6.95%. The business had revenue of $109.48 million during the quarter, compared to the consensus estimate of $105.27 million. During the same quarter last year, the firm posted $0.10 EPS. The company’s quarterly revenue was up 24.8% on a year-over-year basis. As a group, sell-side analysts predict that On Deck Capital will post 0.31 EPS for the current fiscal year.

In related news, Director Ronald F. Verni purchased 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The shares were bought at an average price of $5.89 per share, for a total transaction of $35,340.00. Following the completion of the transaction, the director now owns 84,283 shares of the company’s stock, valued at $496,426.87. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Noah Breslow bought 8,000 shares of the firm’s stock in a transaction on Tuesday, February 19th. The stock was acquired at an average price of $5.93 per share, for a total transaction of $47,440.00. Following the transaction, the chief executive officer now owns 730,644 shares of the company’s stock, valued at $4,332,718.92. The disclosure for this purchase can be found here. 21.40% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in ONDK. Renaissance Technologies LLC grew its position in On Deck Capital by 49.4% in the third quarter. Renaissance Technologies LLC now owns 3,587,800 shares of the credit services provider’s stock valued at $27,160,000 after acquiring an additional 1,185,600 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of On Deck Capital by 288.4% during the fourth quarter. Mackenzie Financial Corp now owns 759,753 shares of the credit services provider’s stock valued at $4,483,000 after purchasing an additional 564,131 shares in the last quarter. Morgan Stanley boosted its stake in shares of On Deck Capital by 351.3% during the third quarter. Morgan Stanley now owns 623,057 shares of the credit services provider’s stock valued at $4,716,000 after purchasing an additional 485,009 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of On Deck Capital by 21.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,603,987 shares of the credit services provider’s stock valued at $19,711,000 after purchasing an additional 460,557 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of On Deck Capital by 52.2% during the fourth quarter. Millennium Management LLC now owns 1,131,125 shares of the credit services provider’s stock valued at $6,674,000 after purchasing an additional 387,837 shares in the last quarter. Hedge funds and other institutional investors own 71.63% of the company’s stock.

About On Deck Capital

On Deck Capital, Inc operates an online platform for small business lending in the United States, Canada, and Australia. It offers term loans and lines of credit. The company also provides technology and services platform that facilitates online lending to small business customers for banks. It distributes its products through direct marketing channel, strategic partners, and funding advisors.

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