Goldman Sachs Group downgraded shares of GreenSky (NASDAQ:GSKY) from a buy rating to a neutral rating in a research note released on Wednesday morning, MarketBeat reports. They currently have $11.00 target price on the stock, down from their previous target price of $31.00.
Other equities research analysts have also recently issued research reports about the company. Compass Point upgraded GreenSky from a neutral rating to a buy rating and set a $27.00 price objective for the company in a report on Thursday, August 16th. They noted that the move was a valuation call. Cowen upgraded GreenSky from a neutral rating to a buy rating in a report on Thursday, August 16th. Sandler O’Neill restated a hold rating and set a $20.00 price objective on shares of GreenSky in a report on Wednesday, August 8th. BTIG Research began coverage on GreenSky in a report on Thursday, October 11th. They set a buy rating and a $23.00 price objective for the company. Finally, Credit Suisse Group reduced their price objective on GreenSky from $29.00 to $28.00 and set an outperform rating for the company in a report on Wednesday, August 8th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. GreenSky currently has an average rating of Buy and a consensus price target of $20.62.
NASDAQ GSKY traded up $0.30 during trading on Wednesday, reaching $9.71. 4,047,801 shares of the company’s stock were exchanged, compared to its average volume of 3,319,509. GreenSky has a fifty-two week low of $8.55 and a fifty-two week high of $27.01.
In related news, insider Dennis I. Kelly purchased 27,000 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The stock was acquired at an average cost of $9.06 per share, for a total transaction of $244,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GSKY. Waddell & Reed Financial Inc. bought a new stake in GreenSky during the second quarter worth $40,116,000. Federated Investors Inc. PA bought a new stake in GreenSky during the second quarter worth $34,363,000. Millennium Management LLC bought a new stake in GreenSky during the second quarter worth $27,892,000. BlackRock Inc. bought a new stake in GreenSky during the second quarter worth $27,650,000. Finally, TPG Group Holdings SBS Advisors Inc. bought a new stake in GreenSky during the second quarter worth $26,606,000. Hedge funds and other 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.
Recommended Story: Do stock splits help investors?
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.