GreenSky (NASDAQ:GSKY) had its target price dropped by investment analysts at SunTrust Banks to $11.00 in a research note issued to investors on Wednesday, The Fly reports. The firm presently has a “buy” rating on the stock. SunTrust Banks’ price target indicates a potential upside of 20.09% from the stock’s current price.
A number of other analysts also recently issued reports on the company. Compass Point downgraded GreenSky from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $22.00 to $11.00 in a research report on Wednesday. Goldman Sachs Group downgraded GreenSky from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $31.00 to $11.00 in a research report on Wednesday. BTIG Research downgraded GreenSky from a “buy” rating to a “neutral” rating and set a $23.00 price objective for the company. in a research report on Tuesday. Raymond James lowered their target price on GreenSky from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Monday. Finally, Zacks Investment Research cut GreenSky from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $22.00.
Shares of NASDAQ:GSKY traded down $0.12 during midday trading on Wednesday, reaching $9.16. 5,730,049 shares of the company’s stock were exchanged, compared to its average volume of 1,417,943. GreenSky has a fifty-two week low of $8.55 and a fifty-two week high of $27.01.
In other news, Director Nigel W. Morris bought 62,500 shares of the stock in a transaction that occurred on Friday, August 10th. The stock was bought at an average cost of $15.69 per share, for a total transaction of $980,625.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.
Institutional investors have recently made changes to their positions in the stock. Kornitzer Capital Management Inc. KS purchased a new position in GreenSky during the 2nd quarter valued at about $7,125,000. BlackRock Inc. purchased a new position in GreenSky during the 2nd quarter valued at about $27,650,000. NumerixS Investment Technologies Inc purchased a new position in GreenSky during the 2nd quarter valued at about $619,000. Soros Fund Management LLC purchased a new position in shares of GreenSky in the 2nd quarter valued at about $1,788,000. Finally, Laurion Capital Management LP purchased a new position in shares of GreenSky in the 2nd quarter valued at about $1,483,000. Institutional investors own 31.30% of the company’s stock.
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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