Guggenheim Lowers GreenSky (GSKY) to Neutral

GreenSky (NASDAQ:GSKY) was downgraded by investment analysts at Guggenheim from a “buy” rating to a “neutral” rating in a report issued on Wednesday, Marketbeat Ratings reports. They presently have a $13.76 price objective on the stock, up from their prior price objective of $13.75. Guggenheim’s target price would indicate a potential downside of 1.71% from the company’s current price.

GSKY has been the topic of several other research reports. Citigroup lifted their target price on GreenSky from $14.00 to $16.50 and gave the company a “buy” rating in a research note on Wednesday, April 17th. SunTrust Banks lifted their target price on GreenSky to $14.00 and gave the company a “buy” rating in a research note 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’s stock. GreenSky presently has a consensus rating of “Hold” and an average price target of $17.90.

Shares of NASDAQ GSKY traded down $0.17 during mid-day trading on Wednesday, hitting $14.00. The company had a trading volume of 4,721 shares, compared to its average volume of 1,060,292. The company has a market cap of $2.78 billion and a price-to-earnings ratio of 199.14. GreenSky has a 12 month low of $8.30 and a 12 month high of $27.01.

GreenSky (NASDAQ:GSKY) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.08. The business had revenue of $103.70 million for the quarter, compared to the consensus estimate of $103.46 million. GreenSky had a negative return on equity of 45.61% and a net margin of 8.99%. The business’s revenue for the quarter was up 21.6% on a year-over-year basis. Equities research analysts forecast that GreenSky will post 0.69 earnings per share for the current year.

In other GreenSky news, Director Gregg Steven Freishtat sold 12,000 shares of GreenSky stock in a transaction on Monday, April 29th. The stock was sold at an average price of $16.02, for a total transaction of $192,240.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its position in GreenSky by 81.4% during the first quarter. BNP Paribas Arbitrage SA now owns 1,943 shares of the company’s stock valued at $25,000 after purchasing an additional 872 shares during the last quarter. Advisor Group Inc. lifted its position in shares of GreenSky by 140.1% during the 4th quarter. Advisor Group Inc. now owns 3,446 shares of the company’s stock worth $34,000 after purchasing an additional 2,011 shares during the last quarter. Cowen Prime Services LLC lifted its position in shares of GreenSky by 100.0% during the 1st quarter. Cowen Prime Services LLC now owns 4,000 shares of the company’s stock worth $52,000 after purchasing an additional 2,000 shares during the last quarter. Sterling Investment Advisors Ltd. lifted its position in shares of GreenSky by 100.0% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 4,000 shares of the company’s stock worth $52,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Royce & Associates LP acquired a new position in shares of GreenSky during the 4th quarter worth about $55,000. 32.71% of the stock is currently owned by institutional investors.

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.

Featured Story: Trading Ex-Dividend

Analyst Recommendations for GreenSky (NASDAQ:GSKY)

Receive News & Ratings for GreenSky Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GreenSky and related companies with MarketBeat.com's FREE daily email newsletter.