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Orchard Platform's Week In Review: ABS East Conference And The Fleeting Nature Of The 'Next Big Short'

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Orchard Platform's Week In Review: ABS East Conference And The Fleeting Nature Of The 'Next Big Short'
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Orchard Platform, a technology and data provider for the online lending space, publishes a weekly review of the online lending sector.

The latest report for the week ending September 23 focused on the ABS East Conference in Miami, in which the online lending industry was "well represented." The report noted that contrary to what has been reported, Steve Eisman did not single out online loans or any particular asset as being "the next big short."

"The sentiment towards our industry in the ABS space has been largely positive, and this year's conference was no exception," the report stated. "Our big takeaways for the week are that the 'headline ice' from the negative events that affected the industry earlier this year seems to have thawed, and standardization of data and secondary sales of loan pools appear to be on everyone's mind."

Related Link: How The Expiration Of A Lock-Up Affects A Company's Shares

Here is a summary of the some of the major indicators the report follows.

  1. The Orchard Index, an index designed to measure the performance of direct online lending to U.S. consumers, last read 1,469.57, up from 1,463.19 a month ago. The index tracks the performance of the aggregate amount of loans to consumers originated and funded on U.S.-based online lending platforms.
  2. The KBW/Nasdaq Fintech Index, an index that tracks the performance of companies that specialize in combining technology with financial products and services, last read 1052.63, up from 1,038.84 a month ago. The index was just launched in July of this year.
  3. The Liberum/AltFi Financial Disruptors Index (LAFDI) tracks companies that are considered to be disrupting banks and financial services by using new approaches. The index last read 1,817.80, which is down from 1,953.00 a month ago.

Below are the five stocks Orchard tracks and their recent opens.

  • LendingClub Corp (NYSE: LC) closed at $6.23 on Tuesday and traded at $5.40 a month ago.
  • On Deck Capital Inc (NYSE: ONDK) closed at $5.85 on Tuesday and traded at $6.17 a month ago.
  • Yirendai Ltd - ADR (NYSE: YRD) closed at $25.00 on Tuesday and traded at $25.84 a month ago.
  • Lendingtree Inc (NASDAQ: TREE) closed at $93.19 on Tuesday and traded at $100.68 a month ago.
  • Square Inc (NYSE: SQ) closed at $11.78 on Tuesday and traded at $12.04 a month ago.

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Latest Ratings for LC

DateFirmActionFromTo
Mar 2017GuggenheimUpgradesNeutralBuy
Dec 2016Janney CapitalInitiates Coverage OnNeutral
Nov 2016Morgan StanleyUpgradesEqual-WeightOverweight

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Posted-In: Fintech Online Lending Orchard Platform Steve ElsmanAnalyst Color Fintech Analyst Ratings Best of Benzinga

 

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