GreenSky Inc (GSKY) Short Interest Up 48.1% in August
GreenSky Inc (NASDAQ:GSKY) saw a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 5,672,859 shares, an increase of 48.1% from the July 31st total of 3,831,224 shares. Approximately 10.3% of the company’s shares are sold short. Based on an average trading volume of 2,627,411 shares, the days-to-cover ratio is presently 2.2 days.
In other GreenSky news, Director Nigel W. Morris acquired 62,500 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The stock was bought at an average price of $15.69 per share, for a total transaction of $980,625.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Hedge funds have recently modified their holdings of the business. Kornitzer Capital Management Inc. KS purchased a new stake in shares of GreenSky in the 2nd quarter worth $7,125,000. Dean Capital Investments Management LLC bought a new position in shares of GreenSky in the 2nd quarter worth $543,000. Gilder Gagnon Howe & Co. LLC bought a new position in shares of GreenSky in the 2nd quarter worth $229,000. CIBC Private Wealth Group LLC bought a new position in shares of GreenSky in the 2nd quarter worth $235,000. Finally, Jennison Associates LLC bought a new position in shares of GreenSky in the 2nd quarter worth $16,920,000. Institutional investors and hedge funds own 30.98% of the company’s stock.
GreenSky (NASDAQ:GSKY) last issued its earnings results on Tuesday, August 7th. The company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.02. The firm had revenue of $105.70 million during the quarter, compared to analysts’ expectations of $105.57 million. equities research analysts anticipate that GreenSky will post 0.65 EPS for the current year.
A number of equities analysts recently issued reports on GSKY shares. Compass Point restated a “hold” rating and set a $22.00 price objective on shares of GreenSky in a report on Wednesday, August 8th. Raymond James started coverage on GreenSky in a report on Monday, June 18th. They set an “outperform” rating for the company. Citigroup dropped their price objective on GreenSky from $28.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, August 8th. JPMorgan Chase & Co. assumed coverage on GreenSky in a report on Monday, June 18th. They issued an “overweight” rating and a $30.00 target price for the company. Finally, Credit Suisse Group assumed coverage on GreenSky in a report on Monday, June 18th. They issued an “outperform” rating and a $29.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $27.60.
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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