GreenSky (GSKY) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of GreenSky (NASDAQ:GSKY) from a sell rating to a hold rating in a research report report published on Thursday morning.
According to Zacks, “GreenSky Inc. operates as a technology company. It offers proprietary technology infrastructure platform to supports the full transaction lifecycle, including credit application, underwriting and real-time allocation. The company’s proprietary technology powered platform enables merchants to offer frictionless promotional payment options to consumers, driving increased sales volume and accelerated cash flow. GreenSky Inc. is headquartered in Atlanta, Georgia. “
A number of other research firms also recently commented on GSKY. Compass Point reaffirmed a hold rating and issued a $22.00 price target on shares of GreenSky in a research note on Wednesday, August 8th. Citigroup dropped their price target on GreenSky from $28.00 to $26.00 and set a buy rating for the company in a research note on Wednesday, August 8th. BTIG Research downgraded GreenSky from a buy rating to a neutral rating and set a $23.00 price target for the company. in a research note on Tuesday, November 6th. SunTrust Banks dropped their price target on GreenSky to $11.00 and set a buy rating for the company in a research note on Wednesday, November 7th. Finally, Credit Suisse Group dropped their price target on GreenSky from $29.00 to $28.00 and set an outperform rating for the company in a research note on Wednesday, August 8th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $20.62.
GreenSky (NASDAQ:GSKY) last posted its earnings results on Tuesday, November 6th. The company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. The firm had revenue of $113.91 million for the quarter, compared to analyst estimates of $121.28 million. GreenSky’s quarterly revenue was up 29.0% compared to the same quarter last year. Sell-side analysts predict that GreenSky will post 0.57 earnings per share for the current fiscal year.
In related news, insider Dennis I. Kelly purchased 27,000 shares of the company’s stock in a transaction that occurred on Thursday, November 8th. The stock was acquired at an average price of $9.06 per share, with a total value of $244,620.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace LLP acquired a new position in GreenSky during the third quarter worth about $34,173,000. Vanguard Group Inc. raised its stake in GreenSky by 29.2% during the third quarter. Vanguard Group Inc. now owns 3,424,121 shares of the company’s stock worth $61,634,000 after acquiring an additional 773,774 shares in the last quarter. Morgan Stanley raised its stake in GreenSky by 84.2% during the third quarter. Morgan Stanley now owns 105,807 shares of the company’s stock worth $1,905,000 after acquiring an additional 48,369 shares in the last quarter. Soros Fund Management LLC raised its stake in GreenSky by 636.0% during the third quarter. Soros Fund Management LLC now owns 622,054 shares of the company’s stock worth $11,197,000 after acquiring an additional 537,532 shares in the last quarter. Finally, Verition Fund Management LLC raised its stake in GreenSky by 905.6% during the third quarter. Verition Fund Management LLC now owns 162,570 shares of the company’s stock worth $2,926,000 after acquiring an additional 146,404 shares in the last quarter. 35.19% of the stock is owned by hedge funds and other institutional investors.
GreenSky Company Profile
GreenSky, Inc, a technology company, provides point-of-sale financing and payment solutions to merchants, consumers, and banks. It offers a proprietary technology infrastructure that support the full transaction lifecycle, including credit application, underwriting, real-time allocation to bank partners, document distribution, funding, settlement, and servicing functions.
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