GreenSky LLC (GSKY) Sees Significant Growth in Short Interest

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GreenSky LLC (NASDAQ:GSKY) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 3,831,224 shares, a growth of 91.5% from the July 13th total of 2,000,606 shares. Approximately 6.8% of the shares of the company are short sold. Based on an average daily volume of 559,264 shares, the days-to-cover ratio is currently 6.9 days.

Several analysts recently weighed in on the stock. SunTrust Banks reiterated a “buy” rating and issued a $30.00 price target on shares of GreenSky in a report on Wednesday, August 8th. Citigroup cut their price target on shares of GreenSky from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 8th. Credit Suisse Group assumed coverage on shares of GreenSky in a report on Monday, June 18th. They issued an “outperform” rating and a $29.00 price target on the stock. Morgan Stanley assumed coverage on shares of GreenSky in a report on Monday, June 18th. They issued an “overweight” rating and a $28.00 price target on the stock. Finally, Compass Point assumed coverage on shares of GreenSky in a report on Thursday, June 14th. They issued a “neutral” rating and a $27.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. GreenSky has an average rating of “Buy” and a consensus price target of $27.10.

Several hedge funds have recently made changes to their positions in the company. Sei Investments Co. bought a new stake in shares of GreenSky during the 2nd quarter valued at $118,000. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of GreenSky during the 2nd quarter valued at $229,000. CIBC Private Wealth Group LLC bought a new stake in shares of GreenSky during the 2nd quarter valued at $235,000. Legal & General Group Plc bought a new stake in shares of GreenSky during the 2nd quarter valued at $235,000. Finally, Spark Investment Management LLC bought a new stake in shares of GreenSky during the 2nd quarter valued at $503,000. Hedge funds and other institutional investors own 0.58% of the company’s stock.

Shares of GSKY stock opened at $15.59 on Monday. GreenSky has a 12 month low of $15.41 and a 12 month high of $27.01.

GreenSky (NASDAQ:GSKY) last announced its earnings results on Tuesday, August 7th. The company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.02. The business had revenue of $105.70 million for the quarter, compared to the consensus estimate of $105.57 million. research analysts expect that GreenSky will post 0.65 earnings per share for the current year.

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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