Orchard's Online Lending Week In Review: What's Going On With The Founding Funds?
Orchard Examines The Week In Online Lending: A Look Back At The Founders
Orchard Platform, a technology and data provider for the online lending space, publishes a weekly review of the online lending sector.
Last week's report focused on several new entrants to the online lending space, including Cross River Bank, which received a $28 million investment from several notable private equity firms.
The latest report focused on recent developments within the first online lending-focused, registered closed-end funds.
An investment manager, RiverNorth Capital Management, launched the RiverNorth Marketplace Lending Corporation (RMPLX) in September and recently said it will host a webinar called ''Incorporating Marketplace Lending into an Institutional Portfolio."
The webinar will be hosted on Thursday at 4:15 p.m. ET and can be seen here.
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 1,478.22, up from 1,474.72 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 1021.25, up from 1,015.22 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 2,070.40, which is down from 2,041.70 a month ago.
Stocks And Closes
Below are the five stocks Orchard tracks and their recent closes:
- LendingClub Corp (NYSE: LC) gained more than 4 percent on Friday to close at $6.14. The stock has now gained around 75 percent since the summer.
- On Deck Capital Inc (NYSE: ONDK) gained more than 10 percent on Friday and closed at $5.56 but the stock is still lower by more than 45 percent since the start of the year.
- Yirendai Ltd - ADR (NYSE: YRD) gained 0.72 percent on Friday to close at $29.43. Shares are now higher by more than 200 percent since the start of 2016.
- Lendingtree Inc (NASDAQ: TREE) gained more than 5 percent to close at $95.15. However, shares are still lower by around 18 percent over the past year.
- Square Inc (NYSE: SQ) gained nearly 2 percent on Friday to close at $11.88 but shares are still lower by nearly 10 percent since the start of 2016.
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