GreenSky (GSKY) Rating Increased to Hold at Zacks Investment Research

GreenSky (NASDAQ:GSKY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.

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 brokerages also recently issued reports on GSKY. Credit Suisse Group lowered their price target on GreenSky from $29.00 to $28.00 and set an “outperform” rating for the company in a research report on Wednesday, August 8th. Sandler O’Neill restated a “hold” rating and issued a $20.00 price target on shares of GreenSky in a research report on Wednesday, August 8th. Compass Point restated a “hold” rating and issued a $22.00 price target on shares of GreenSky in a research report on Wednesday, August 8th. Citigroup lowered their price target on GreenSky from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, August 8th. Finally, SunTrust Banks restated a “buy” rating and issued a $30.00 price target on shares of GreenSky in a research report on Wednesday, August 8th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. GreenSky currently has an average rating of “Buy” and an average price target of $20.62.

GSKY stock opened at $9.00 on Thursday. GreenSky has a fifty-two week low of $8.55 and a fifty-two week high of $27.01.

GreenSky (NASDAQ:GSKY) last posted its earnings results on Tuesday, November 6th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $113.91 million during the quarter, compared to analysts’ expectations of $121.28 million. GreenSky’s revenue was up 29.0% compared to the same quarter last year. Sell-side analysts forecast that GreenSky will post 0.57 EPS for the current fiscal year.

In related news, insider Dennis I. Kelly purchased 27,000 shares of the stock in a transaction that occurred on Thursday, November 8th. The stock was bought at an average cost of $9.06 per share, for a total transaction of $244,620.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Several large investors have recently added to or reduced their stakes in GSKY. Sei Investments Co. bought a new stake in shares of GreenSky during the second quarter worth $118,000. Mycio Wealth Partners LLC bought a new stake in shares of GreenSky during the third quarter worth $180,000. RBF Capital LLC bought a new stake in shares of GreenSky during the third quarter worth $185,000. California Public Employees Retirement System bought a new stake in shares of GreenSky during the second quarter worth $212,000. Finally, EJF Capital LLC bought a new stake in shares of GreenSky during the second quarter worth $212,000. Institutional investors and hedge funds own 35.19% of the company’s stock.

About GreenSky

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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