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Orchard Update: OnDeck Partnership, Events Season Recap And More

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Orchard Update: OnDeck Partnership, Events Season Recap And More
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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 dated October 31 focused on some of the most notable events that occurred during the month.

Last week's recap focused on the latest developments in small business lending .

Orchard was present at the Lendit Europe conference in London, and one of the major takeaways from the event was the overall "positive sentiment" that served as a sign that the online lending space is on track to end the year on a positive note.

"In general, it was gratifying to hear that the industry conversation around transparency, liquidity, and data standardization continues," Orchard said in its report. "It's at the core of what we're driving towards at Orchard."

In other news, On Deck Capital Inc (NYSE: ONDK), Kabbage and CAN Capital announced the creation of a new disclosure box, which serves as a mean to standardize the way loan pricing is displayed across loan types.

Looking forward, Orchard will be present at the U.S. Securities and Exchange Commission's Fintech Forum on November 14. The purpose of the event is to bring together a greater degree of collaboration and understanding among regulators, entrepreneurs and industry experts.

Other events where Orchard will be present include the OPAL Alternative Investing Summit 2016 and a Marketplace Lending Meetup in New York City.

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

  • The Orchard Index, an index designed to measure the performance of direct online lending to U.S. consumers, last read 1474.59, up from 1469.83 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.
  • 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 1008.81, up from 1040.29 a month ago. The index was just launched in July of this year.
  • 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 2070.40, which is down from 2041.70 a month ago.

Below are the five stocks Orchard tracks and their recent closes:

    1. LendingClub Corp (NYSE: LC) opened at $4.74 on Monday and is lower by nearly 58 percent since the start of the year.
    2. On Deck Capital opened at $4.88 on Monday and is lower by nearly 53 percent since the start of the year.
    3. Yirendai Ltd - ADR (NYSE: YRD) opened at $28.40 on Monday and his higher by more than 200 percent since the start of the year.
    4. Lendingtree Inc (NASDAQ: TREE) opened at $77.65 on Monday and is lower by more than 12 percent since the start of the year.
    5. Square Inc (NYSE: SQ) opened at $11.14 on Monday and is lower by nearly 15 percent since the start of the year.

Latest Ratings for LC

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

View More Analyst Ratings for LC
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Posted-In: KBW/Nasdaq Fintech Index Lendint Europe Online Lending Orchard Index Orchard PlatformAnalyst Color Fintech Analyst Ratings Best of Benzinga

 

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