Spark Investment Management LLC boosted its stake in GreenSky Inc (NASDAQ:GSKY) by 40.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,152,200 shares of the company’s stock after purchasing an additional 330,414 shares during the quarter. Spark Investment Management LLC’s holdings in GreenSky were worth $14,909,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Shapiro Capital Management LLC bought a new position in shares of GreenSky during the fourth quarter worth about $74,166,000. Vanguard Group Inc boosted its position in GreenSky by 29.2% during the third quarter. Vanguard Group Inc now owns 3,424,121 shares of the company’s stock valued at $61,634,000 after purchasing an additional 773,774 shares during the last quarter. Vanguard Group Inc. boosted its position in GreenSky by 29.2% during the third quarter. Vanguard Group Inc. now owns 3,424,121 shares of the company’s stock valued at $61,634,000 after purchasing an additional 773,774 shares during the last quarter. Norges Bank acquired a new position in GreenSky during the fourth quarter valued at approximately $25,874,000. Finally, UBS Oconnor LLC boosted its position in GreenSky by 385.1% during the fourth quarter. UBS Oconnor LLC now owns 2,590,400 shares of the company’s stock valued at $24,790,000 after purchasing an additional 2,056,400 shares during the last quarter. Institutional investors and hedge funds own 32.60% of the company’s stock.
In related news, Director Gregg Steven Freishtat sold 3,000 shares of GreenSky stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $16.06, for a total transaction of $48,180.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
NASDAQ:GSKY traded up $0.31 during mid-day trading on Friday, hitting $11.53. 24,065 shares of the stock were exchanged, compared to its average volume of 1,461,745. The stock has a market cap of $2.05 billion and a P/E ratio of 159.71. GreenSky Inc has a fifty-two week low of $8.30 and a fifty-two week high of $27.01.
GreenSky (NASDAQ:GSKY) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.08. The business had revenue of $103.70 million during the quarter, compared to analysts’ expectations of $103.46 million. GreenSky had a negative return on equity of 161.85% and a net margin of 6.27%. The firm’s revenue was up 21.6% on a year-over-year basis. As a group, equities research analysts predict that GreenSky Inc will post 0.72 earnings per share for the current fiscal year.
Several brokerages recently commented on GSKY. JPMorgan Chase & Co. increased their price target on GreenSky from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Guggenheim cut GreenSky from a “buy” rating to a “neutral” rating and raised their price objective for the company from $13.75 to $13.76 in a research report on Wednesday, May 8th. Citigroup raised their price objective on GreenSky from $14.00 to $16.50 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, SunTrust Banks raised their price objective on GreenSky to $14.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $17.87.
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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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