NEW YORK, NY / ACCESSWIRE / November 7, 2016 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced it has issued an update on IEG Holdings Corporation (OTCQX: IEGH).

The report is available here: IEGH November Update Note.

Highlights from the report are as follows:

IEGH announced it is exploring strategic alternatives:

On November 3, 2016, IEGH announced that it would explore strategic alternatives. In the announcement, the company stated that it would forgo its application to uplist to a national exchange at this time. Coincident with the announcement, two members of IEGH's Board of Directors resigned from their posts. CEO Paul Mathieson also announced that he would reduce annual base compensation from 1mn to $1.00 in 2017, and that he would forgo any bonus opportunities in 2016. In light of these costs cuts, the company is aiming to achieve breakeven in 2017E.

Loan volume rises again in 3Q16:

IEGH discussed growth in its loan volume in 3Q16 earnings release. According to the company's results release, since January 2015, cumulative loan volume has increased by 150% from $5,5mn $13.9mn as of October 31, 2016. In our view trends in loan volume provide key insights into the core health of IEGH's business, as loan volume is a driver of revenue and potential profitability. Management noted that loan volume is affected by the performance of mramazingloans.com, the cost of new leads and the pace of geographic expansion. In its earnings release, IEGH stated that it now expects to be in 25 states by mid-2017E, versus our prior expectation that it would accomplish this by year-end.

IEGH reaches record quarterly revenues in 3Q16:

IEGH reported 3Q16 revenues of $557,551. Revenues were up 5% from 3Q15 and were also up sequentially from $545,356 in 2Q16. The results reflected rising loan volume and represented a new record for the company. For the three quarters of 2016, revenues came in at $1.6mn, versus $1.3mn in the comparable period in 2015. IEGH ended 3Q16 with cash on hand of $0.9mn and shareholder's equity of $8.3mn, or $0.85 per share.

Updating estimates for 2016E-2017E; reverse split:

Considering recent results in 3Q16 and the new timeline for expansion to have licenses in 25 states, we are pushing some of our growth forecast out from 4Q16E into 2017E, which is reflected in our new estimates. We now see full year 2016E revenue as coming in at $2.3mn (23% YoY growth), and 2017E revenues coming in at $5mn. We are also adjusting our forecast for 2016E GAAP EPS to ($0.42), reflecting shares outstanding after recent corporate actions of 9.7mn. Our 2017E EPS is $0.00, reflecting guidance that IEGH would generate cash in 2017.

Adjusting price target to $10.50:

We are adjusting our price target for IEGH to $10.50, versus the recent close of $3.75 on November 4, 2016. The target reflects the new share count of 9.7mn shares, as well as recent results and our new estimates. We continue to see IEGH as a high risk, high potential reward company in the consumer finance industry.

Please review important disclosures at www.seethruequity.com.

About IEGH Holdings Corporation:

IEG Holdings Corporation (IEGH) ("IEG Holdings") provides online unsecured consumer loans under the brand name, "Mr. Amazing Loans," via its website, www.mramazingloans.com, in 18 US states. IEG Holdings offers $5,000 and $10,000 loans over a term of five years at a 19.9% to 29.9% APR. IEG Holdings plans future expansion to 25 US states by mid-2017. For more information about IEG Holdings, visit www.investmentevolution.com.

About SeeThruEquity:

Since its founding in 2011, SeeThruEquity has been committed to its core mission: providing impactful, high quality research on underfollowed smallcap and microcap equities. SeeThruEquity has pioneered an innovative business model for equity research that is not paid for and is unbiased. SeeThruEquity is the host of acclaimed investor conferences that are the ultimate event for publicly traded companies with market capitalizations less than $1 billion.

SeeThruEquity is approved to contribute its research reports and estimates to Thomson One Analytics (First Call), the leading estimates platform on Wall Street, as well as Capital IQ and FactSet. SeeThruEquity maintains one of the industry's most extensive databases of opt-in institutional and high net worth investors. The firm is headquartered in Midtown Manhattan in New York City.

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Contact:

Ajay Tandon
SeeThruEquity
info@seethruequity.com

SOURCE: SeeThruEquity