Compass Point Lowers GreenSky (GSKY) to Neutral

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

GSKY has been the topic of several other research reports. Cowen raised shares of GreenSky from a neutral rating to a buy rating in a research note on Thursday, August 16th. Zacks Investment Research downgraded shares of GreenSky from a buy rating to a hold rating in a research note on Wednesday, October 10th. Sandler O’Neill reaffirmed a hold rating and issued a $20.00 price target on shares of GreenSky in a research note on Wednesday, August 8th. Raymond James reduced their price target on shares of GreenSky from $26.00 to $23.00 and set an outperform rating on the stock in a research note on Monday, November 5th. Finally, Goldman Sachs Group downgraded shares of GreenSky from a buy rating to a neutral rating and reduced their price target for the stock from $31.00 to $11.00 in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. GreenSky presently has an average rating of Buy and an average price target of $20.62.

Shares of GreenSky stock traded up $0.30 during trading on Wednesday, hitting $9.71. The stock had a trading volume of 4,047,801 shares, compared to its average volume of 3,319,509. GreenSky has a 12 month low of $8.55 and a 12 month high of $27.01.

GreenSky (NASDAQ:GSKY) last released its earnings results on Tuesday, November 6th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The firm had revenue of $113.91 million during the quarter, compared to the consensus estimate of $121.28 million. The business’s revenue was up 29.0% on a year-over-year basis. Research analysts forecast that GreenSky will post 0.59 EPS for the current year.

In other GreenSky news, insider Dennis I. Kelly bought 27,000 shares of the business’s stock in a transaction on Thursday, November 8th. The shares were acquired at an average price of $9.06 per share, with a total value of $244,620.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sei Investments Co. purchased a new position in shares of GreenSky in the 2nd quarter worth approximately $118,000. Mycio Wealth Partners LLC purchased a new position in shares of GreenSky in the 3rd quarter worth approximately $180,000. EJF Capital LLC purchased a new position in shares of GreenSky in the 2nd quarter worth approximately $212,000. California Public Employees Retirement System purchased a new position in shares of GreenSky in the 2nd quarter worth approximately $212,000. Finally, Gilder Gagnon Howe & Co. LLC purchased a new position in shares of GreenSky in the 2nd quarter worth approximately $229,000. 31.30% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Fundamental Analysis and Individual Investors

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