GreenSky (NASDAQ:GSKY) Upgraded by Zacks Investment Research to Hold

GreenSky (NASDAQ:GSKY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “GreenSky Inc. operates as a technology company. It offers proprietary technology infrastructure platform to supports the full transaction lifecycle, including credit application, underwriting and real-time allocation. The company’s proprietary technology powered platform enables merchants to offer frictionless promotional payment options to consumers, driving increased sales volume and accelerated cash flow. GreenSky Inc. is headquartered in Atlanta, Georgia. “

GSKY stock traded up $0.21 during midday trading on Tuesday, hitting $8.46. 390,700 shares of the company’s stock were exchanged, compared to its average volume of 412,844. The business has a 50-day simple moving average of $8.00 and a two-hundred day simple moving average of $8.31. The stock has a market capitalization of $1.48 billion, a PE ratio of 120.86, a P/E/G ratio of 0.99 and a beta of 2.29. GreenSky has a 1-year low of $5.74 and a 1-year high of $16.42.

GreenSky (NASDAQ:GSKY) last posted its earnings results on Tuesday, November 5th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. The company had revenue of $153.42 million during the quarter, compared to analysts’ expectations of $143.68 million. GreenSky had a negative return on equity of 88.69% and a net margin of 7.25%. The firm’s quarterly revenue was up 34.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. Equities research analysts forecast that GreenSky will post 0.55 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of GSKY. State Street Corp boosted its position in shares of GreenSky by 35.8% during the third quarter. State Street Corp now owns 313,984 shares of the company’s stock worth $2,149,000 after buying an additional 82,807 shares during the period. Boston Advisors LLC boosted its position in shares of GreenSky by 21.7% during the third quarter. Boston Advisors LLC now owns 93,384 shares of the company’s stock worth $639,000 after buying an additional 16,626 shares during the period. Academy Capital Management Inc. TX purchased a new position in shares of GreenSky during the third quarter worth $99,000. Tower Research Capital LLC TRC boosted its position in shares of GreenSky by 145.9% during the third quarter. Tower Research Capital LLC TRC now owns 24,811 shares of the company’s stock worth $170,000 after buying an additional 14,721 shares during the period. Finally, Verity Asset Management Inc. boosted its position in shares of GreenSky by 6.5% during the third quarter. Verity Asset Management Inc. now owns 28,941 shares of the company’s stock worth $198,000 after buying an additional 1,778 shares during the period. 39.37% of the stock is owned by institutional investors.

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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