On Deck Capital (NYSE:ONDK) Stock Price Up 16% on Earnings Beat

On Deck Capital Inc (NYSE:ONDK) rose 16% during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $4.46 and last traded at $4.21, approximately 1,312,211 shares traded hands during mid-day trading. An increase of 133% from the average daily volume of 563,088 shares. The stock had previously closed at $3.63.

The credit services provider reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. On Deck Capital had a net margin of 7.85% and a return on equity of 10.90%. The business had revenue of $112.55 million during the quarter, compared to analyst estimates of $110.37 million. During the same quarter last year, the business posted $0.16 earnings per share. On Deck Capital’s revenue for the quarter was up 9.4% compared to the same quarter last year.

A number of research firms have commented on ONDK. ValuEngine raised shares of On Deck Capital from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research lowered shares of On Deck Capital from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Morgan Stanley raised shares of On Deck Capital from an “underweight” rating to an “equal” rating and lowered their target price for the stock from $4.00 to $3.50 in a report on Wednesday, August 21st. BTIG Research raised shares of On Deck Capital from a “neutral” rating to a “buy” rating and set a $4.25 target price for the company in a report on Tuesday, July 30th. Finally, Maxim Group reaffirmed a “hold” rating on shares of On Deck Capital in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $6.18.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its stake in On Deck Capital by 10.2% in the 3rd quarter. Rhumbline Advisers now owns 95,174 shares of the credit services provider’s stock valued at $320,000 after buying an additional 8,806 shares during the last quarter. Alberta Investment Management Corp grew its stake in On Deck Capital by 55.3% in the 3rd quarter. Alberta Investment Management Corp now owns 59,800 shares of the credit services provider’s stock valued at $201,000 after buying an additional 21,300 shares during the last quarter. River & Mercantile Asset Management LLP acquired a new position in On Deck Capital in the 2nd quarter valued at about $869,000. Hancock Whitney Corp grew its stake in On Deck Capital by 3.3% in the 2nd quarter. Hancock Whitney Corp now owns 181,186 shares of the credit services provider’s stock valued at $752,000 after buying an additional 5,859 shares during the last quarter. Finally, Voce Capital Management LLC acquired a new position in On Deck Capital in the 2nd quarter valued at about $3,537,000. 73.91% of the stock is owned by hedge funds and other institutional investors.

The firm has a market cap of $276.21 million, a price-to-earnings ratio of 9.79 and a beta of 1.87. The stock’s 50 day moving average is $3.44 and its 200 day moving average is $4.03. The company has a current ratio of 15.81, a quick ratio of 15.81 and a debt-to-equity ratio of 2.65.

About On Deck Capital (NYSE:ONDK)

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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