Partner Fund Management L.P. Purchases 1,225,832 Shares of GreenSky Inc (GSKY)

Partner Fund Management L.P. lifted its position in GreenSky Inc (NASDAQ:GSKY) by 150.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,038,160 shares of the company’s stock after acquiring an additional 1,225,832 shares during the quarter. Partner Fund Management L.P. owned 1.09% of GreenSky worth $36,687,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. bought a new position in GreenSky in the second quarter worth about $118,000. EJF Capital LLC bought a new position in GreenSky in the second quarter worth about $212,000. California Public Employees Retirement System bought a new position in GreenSky in the second quarter worth about $212,000. Mycio Wealth Partners LLC bought a new position in GreenSky in the third quarter worth about $180,000. Finally, CIBC Private Wealth Group LLC bought a new position in GreenSky in the second quarter worth about $235,000. Hedge funds and other institutional investors own 35.19% of the company’s stock.

In other GreenSky news, insider Dennis I. Kelly purchased 27,000 shares of the company’s stock in a transaction dated Thursday, November 8th. The shares were acquired at an average price of $9.06 per share, for a total transaction of $244,620.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

A number of equities analysts have commented on GSKY shares. SunTrust Banks reiterated a “buy” rating and issued a $30.00 target price on shares of GreenSky in a report on Wednesday, August 8th. Zacks Investment Research downgraded shares of GreenSky from a “hold” rating to a “sell” rating in a report on Tuesday, November 20th. Raymond James reduced their target price on shares of GreenSky from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Monday, November 5th. Citigroup reduced their target price on shares of GreenSky from $28.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, August 8th. Finally, Goldman Sachs Group downgraded shares of GreenSky from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $31.00 to $11.00 in a report on Wednesday, November 7th. 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. GreenSky has a consensus rating of “Hold” and a consensus target price of $20.62.

Shares of GSKY stock opened at $8.91 on Thursday. GreenSky Inc has a fifty-two week low of $8.55 and a fifty-two week high of $27.01.

GreenSky (NASDAQ:GSKY) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. The business had revenue of $113.91 million for the quarter, compared to analysts’ expectations of $121.28 million. The business’s revenue for the quarter was up 29.0% compared to the same quarter last year. As a group, equities research analysts predict that GreenSky Inc will post 0.57 earnings per share for the current year.

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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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Institutional Ownership by Quarter for GreenSky (NASDAQ:GSKY)

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