GreenSky (GSKY) Hits New 52-Week Low After Analyst Downgrade

GreenSky Inc (NASDAQ:GSKY) reached a new 52-week low during mid-day trading on Tuesday after BTIG Research downgraded the stock from a buy rating to a neutral rating. BTIG Research now has a $23.00 price target on the stock. GreenSky traded as low as $8.55 and last traded at $9.49, with a volume of 27271351 shares trading hands. The stock had previously closed at $14.66.

A number of other equities research analysts have also recently issued reports on GSKY. Compass Point reiterated a “hold” rating and issued a $22.00 target price on shares of GreenSky in a research note on Wednesday, August 8th. Raymond James cut their target price on GreenSky from $26.00 to $23.00 and set an “outperform” rating on the stock in a research note on Monday. Zacks Investment Research upgraded GreenSky from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Tuesday, October 9th. SunTrust Banks restated a “buy” rating and set a $30.00 price objective on shares of GreenSky in a research note on Wednesday, August 8th. Finally, Citigroup cut their price objective on shares of GreenSky from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, August 8th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. GreenSky currently has an average rating of “Buy” and a consensus target price of $26.23.

In related news, Director Nigel W. Morris acquired 62,500 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The shares were acquired at an average cost of $15.69 per share, for a total transaction of $980,625.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. purchased a new position in GreenSky during the 2nd quarter valued at about $118,000. Mycio Wealth Partners LLC acquired a new stake in GreenSky in the 3rd quarter worth approximately $180,000. EJF Capital LLC acquired a new stake in GreenSky in the 2nd quarter worth approximately $212,000. California Public Employees Retirement System acquired a new stake in GreenSky in the 2nd quarter worth approximately $212,000. Finally, Gilder Gagnon Howe & Co. LLC acquired a new stake in GreenSky in the 2nd quarter worth approximately $229,000. Institutional investors and hedge funds own 31.30% of the company’s stock.

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 Thomson Reuters’ consensus estimate of $0.20 by $0.01. The company had revenue of $113.91 million during the quarter, compared to analyst estimates of $121.28 million. The business’s quarterly revenue was up 29.0% on a year-over-year basis. Equities analysts expect that GreenSky Inc will post 0.65 EPS for the current fiscal year.

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GreenSky Company Profile (NASDAQ:GSKY)

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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