Virginia Retirement Systems ET AL Takes $385,000 Position in On Deck Capital Inc (ONDK)
Virginia Retirement Systems ET AL bought a new position in shares of On Deck Capital Inc (NYSE:ONDK) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 50,900 shares of the credit services provider’s stock, valued at approximately $385,000. Virginia Retirement Systems ET AL owned 0.07% of On Deck Capital at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Portolan Capital Management LLC boosted its stake in On Deck Capital by 54.0% in the 2nd quarter. Portolan Capital Management LLC now owns 4,167,863 shares of the credit services provider’s stock valued at $29,175,000 after purchasing an additional 1,461,982 shares during the period. Columbus Circle Investors bought a new stake in On Deck Capital in the 3rd quarter valued at $7,565,000. Renaissance Technologies LLC boosted its stake in On Deck Capital by 44.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,402,200 shares of the credit services provider’s stock valued at $16,815,000 after purchasing an additional 736,600 shares during the period. 683 Capital Management LLC boosted its stake in On Deck Capital by 22.0% in the 2nd quarter. 683 Capital Management LLC now owns 3,050,000 shares of the credit services provider’s stock valued at $21,350,000 after purchasing an additional 550,000 shares during the period. Finally, BlackRock Inc. boosted its stake in On Deck Capital by 14.7% in the 2nd quarter. BlackRock Inc. now owns 3,420,168 shares of the credit services provider’s stock valued at $23,941,000 after purchasing an additional 439,494 shares during the period. Institutional investors own 77.83% of the company’s stock.
ONDK has been the subject of several recent research reports. ValuEngine upgraded On Deck Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, November 6th. Stephens restated a “hold” rating and issued a $8.00 price target on shares of On Deck Capital in a research note on Wednesday, August 8th. Janney Montgomery Scott set a $12.00 price target on On Deck Capital and gave the company a “buy” rating in a research note on Tuesday, November 6th. BTIG Research upgraded On Deck Capital from a “sell” rating to a “neutral” rating and set a $7.00 price target for the company in a research note on Monday, October 8th. Finally, B. Riley initiated coverage on On Deck Capital in a research note on Wednesday, August 22nd. They issued a “buy” rating and a $14.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. On Deck Capital has an average rating of “Hold” and a consensus target price of $9.25.
On Deck Capital (NYSE:ONDK) last announced its quarterly earnings data on Tuesday, November 6th. The credit services provider reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.11. The firm had revenue of $103.00 million during the quarter, compared to analysts’ expectations of $98.32 million. On Deck Capital had a return on equity of 9.36% and a net margin of 4.97%. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.01) EPS. As a group, equities research analysts forecast that On Deck Capital Inc will post 0.38 EPS for the current fiscal year.
In other On Deck Capital news, Director David Hartwig sold 105,825 shares of On Deck Capital stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $8.30, for a total value of $878,347.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 21.40% of the stock is owned by insiders.
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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 was incorporated in 2006 and is headquartered in New York, New York.
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