GreenSky (GSKY) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of GreenSky (NASDAQ:GSKY) from a buy rating to a hold rating in a research note published 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. “

Several other equities research analysts also recently issued reports on the company. Cowen upgraded GreenSky from a neutral rating to a buy rating in a report on Thursday, August 16th. Compass Point upgraded GreenSky from a neutral rating to a buy rating and set a $27.00 price objective on the stock in a report on Thursday, August 16th. They noted that the move was a valuation call. Raymond James assumed coverage on GreenSky in a report on Monday, June 18th. They set an outperform rating on the stock. 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 report on Wednesday, August 8th. Finally, Sandler O’Neill reiterated a hold rating and issued a $20.00 price target on shares of GreenSky in a report on Wednesday, August 8th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. GreenSky currently has a consensus rating of Buy and a consensus target price of $27.60.

GSKY stock opened at $16.53 on Thursday. The company has a debt-to-equity ratio of -8.35, a quick ratio of 31.97 and a current ratio of 31.97. GreenSky has a 52-week low of $14.49 and a 52-week high of $27.01.

GreenSky (NASDAQ:GSKY) last posted its quarterly earnings data on Tuesday, August 7th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $105.70 million for the quarter, compared to analysts’ expectations of $105.57 million. Sell-side analysts expect that GreenSky will post 0.65 earnings per share for the current year.

In other news, Director Nigel W. Morris purchased 62,500 shares of the stock in a transaction dated Friday, August 10th. The stock was 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 SEC, which is available at this hyperlink.

Several hedge funds and other institutional investors have recently modified their holdings of GSKY. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of GreenSky in the 2nd quarter valued at approximately $229,000. Wells Fargo & Company MN bought a new position in GreenSky during the 2nd quarter worth $17,912,000. CIBC Private Wealth Group LLC bought a new position in GreenSky during the 2nd quarter worth $235,000. Jennison Associates LLC bought a new position in GreenSky during the 2nd quarter worth $16,920,000. Finally, Kornitzer Capital Management Inc. KS bought a new position in GreenSky during the 2nd quarter worth $7,125,000. Institutional investors and hedge funds own 30.98% of the company’s stock.

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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