Tiger Global Management Lowers stake in On Deck Capital Inc (ONDK)

On Deck Capital Inc (ONDK) : Tiger Global Management reduced its stake in On Deck Capital Inc by 30.03% during the most recent quarter end. The investment management company now holds a total of 3,829,872 shares of On Deck Capital Inc which is valued at $20,949,400 after selling 1,643,887 shares in On Deck Capital Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.On Deck Capital Inc makes up approximately 0.33% of Tiger Global Management’s portfolio.

Other Hedge Funds, Including , Fmr reduced its stake in ONDK by selling 357,900 shares or 12.06% in the most recent quarter. The Hedge Fund company now holds 2,610,058 shares of ONDK which is valued at $14,277,017.Baillie Gifford Co reduced its stake in ONDK by selling 79,384 shares or 3.56% in the most recent quarter. The Hedge Fund company now holds 2,152,224 shares of ONDK which is valued at $9,512,830. On Deck Capital Inc makes up approx 0.02% of Baillie Gifford Co’s portfolio.

On Deck Capital Inc opened for trading at $4.71 and hit $4.83 on the upside on Monday, eventually ending the session at $4.81, with a gain of 2.78% or 0.13 points. The heightened volatility saw the trading volume jump to 2,23,103 shares. Company has a market cap of $344 M.

On the company’s financial health, On Deck Capital Inc reported $-0.18 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Nov 3, 2016. Analyst had a consensus of $-0.17. The company had revenue of $77.40 million for the quarter, compared to analysts expectations of $75.33 million. The company’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS.

Many Wall Street Analysts have commented on On Deck Capital Inc. On Deck Capital Inc was Initiated by Guggenheim to “Neutral” on Sep 21, 2016. Company shares were Reiterated by FBR & Co. on Sep 16, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 6.50 from a previous price target of $6 .

On Deck Capital Inc. is an online platform for small business lending. The Company 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. The Company offers two products to small businesses to access capital: term loans and lines of credit. The Company’s end-to-end integrated platform includes the Company’s Website which allows small businesses to apply for a loan in minutes around the clock; data and analytics engine analyzes thousands of data attributes from disparate sources to assess the real-time creditworthiness of a small business; the technology which offers seamless funding of loans and daily and weekly collections and ongoing servicing system.

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