GreenSky (GSKY) Downgraded by Zacks Investment Research

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Zacks Investment Research cut shares of GreenSky (NASDAQ:GSKY) from a buy rating to a hold rating in a research note released on Wednesday.

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 analysts have also recently weighed in on GSKY. Compass Point began coverage on shares of GreenSky in a report on Thursday, June 14th. They set a neutral rating and a $27.00 price objective on the stock. Credit Suisse Group began coverage on shares of GreenSky in a report on Monday, June 18th. They set an outperform rating and a $29.00 price objective on the stock. Goldman Sachs Group began coverage on shares of GreenSky in a report on Monday, June 18th. They set a buy rating and a $31.00 price objective on the stock. Guggenheim began coverage on shares of GreenSky in a report on Monday, June 18th. They set a buy rating and a $30.00 price objective on the stock. Finally, Bank of America began coverage on shares of GreenSky in a report on Monday, June 18th. They set a neutral rating and a $26.00 price objective on the stock. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. GreenSky presently has a consensus rating of Buy and a consensus price target of $26.50.

Shares of GreenSky stock opened at $15.33 on Wednesday. GreenSky has a 52-week low of $14.49 and a 52-week high of $27.01. The company has a debt-to-equity ratio of -8.35, a current ratio of 31.97 and a quick ratio of 31.97.

GreenSky (NASDAQ:GSKY) last released its quarterly earnings data on Tuesday, August 7th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $105.70 million for the quarter, compared to analyst estimates of $105.57 million. On average, equities research analysts predict that GreenSky will post 0.65 EPS for the current year.

In other GreenSky news, Director Nigel W. Morris bought 62,500 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were acquired at an average cost of $15.69 per share, with a total value of $980,625.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Several institutional investors have recently made changes to their positions in the company. Sei Investments Co. acquired a new position in shares of GreenSky in the 2nd quarter valued at $118,000. EJF Capital LLC acquired a new position in shares of GreenSky in the 2nd quarter valued at $212,000. California Public Employees Retirement System acquired a new position in shares of GreenSky in the 2nd quarter valued at $212,000. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of GreenSky in the 2nd quarter valued at $229,000. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of GreenSky in the 2nd quarter valued at $235,000. 30.98% of the stock is currently owned by institutional investors and hedge funds.

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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