Compass Point Lowers GreenSky (GSKY) to Neutral

Compass Point lowered shares of GreenSky (NASDAQ:GSKY) from a buy rating to a neutral rating in a research note issued to investors on Wednesday, The Fly reports. Compass Point currently has $11.00 price target on the stock, down from their prior price target of $22.00.

A number of other analysts have also recently commented on the stock. Cowen upgraded shares of GreenSky from a neutral rating to a buy rating in a research note on Thursday, August 16th. BTIG Research initiated coverage on shares of GreenSky in a research note on Thursday, October 11th. They issued a buy rating and a $23.00 target price for the company. Credit Suisse Group lowered their target price on shares of GreenSky from $29.00 to $28.00 and set an outperform rating for the company in a research note on Wednesday, August 8th. Zacks Investment Research cut shares of GreenSky from a buy rating to a hold rating in a research note on Thursday, October 4th. Finally, Sandler O’Neill restated a hold rating and set a $20.00 price objective on shares of GreenSky in a research note on Wednesday, August 8th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $20.62.

GSKY stock traded up $0.30 during trading on Wednesday, reaching $9.71. The company had a trading volume of 4,047,801 shares, compared to its average volume of 3,319,509. GreenSky has a twelve month low of $8.55 and a twelve month high of $27.01.

GreenSky (NASDAQ:GSKY) last released its earnings results on Tuesday, November 6th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 29.0% on a year-over-year basis. As a group, equities research analysts forecast that GreenSky will post 0.59 EPS for the current fiscal year.

In other GreenSky news, insider Dennis I. Kelly acquired 27,000 shares of the firm’s stock in a transaction on Thursday, November 8th. The stock was acquired at an average cost of $9.06 per share, for a total transaction of $244,620.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sei Investments Co. acquired a new stake in GreenSky during the 2nd quarter valued at approximately $118,000. EJF Capital LLC acquired a new stake in GreenSky during the 2nd quarter valued at approximately $212,000. Mycio Wealth Partners LLC acquired a new stake in GreenSky during the 3rd quarter valued at approximately $180,000. California Public Employees Retirement System acquired a new stake in GreenSky during the 2nd quarter valued at approximately $212,000. Finally, Gilder Gagnon Howe & Co. LLC acquired a new stake in GreenSky during the 2nd quarter valued at approximately $229,000. Institutional investors and hedge funds own 31.30% 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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