Goldman Sachs Group cut shares of GreenSky (NASDAQ:GSKY) from a buy rating to a neutral rating in a report released on Wednesday, MarketBeat Ratings reports. The firm currently has $11.00 price objective on the stock, down from their prior price objective of $31.00.

A number of other analysts have also recently commented on GSKY. SunTrust Banks reaffirmed a buy rating and set a $30.00 price target on shares of GreenSky in a research report on Wednesday, August 8th. Raymond James cut their price target on shares of GreenSky from $26.00 to $23.00 and set an outperform rating on the stock in a research report on Monday, November 5th. Citigroup cut their price target on shares of GreenSky from $28.00 to $26.00 and set a buy rating on the stock in a research report on Wednesday, August 8th. BTIG Research cut shares of GreenSky from a buy rating to a neutral rating and set a $23.00 price target on the stock. in a research report on Tuesday. Finally, Zacks Investment Research cut shares of GreenSky from a buy rating to a hold rating in a research report on Thursday, October 4th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of Buy and a consensus target price of $20.62.

NASDAQ GSKY traded up $0.30 on Wednesday, reaching $9.71. The company had a trading volume of 4,047,801 shares, 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.

GreenSky (NASDAQ:GSKY) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. The company had revenue of $113.91 million during the quarter, compared to analyst estimates of $121.28 million. The business’s revenue for the quarter was up 29.0% compared to the same quarter last year. On average, sell-side analysts anticipate that GreenSky will post 0.59 EPS for the current fiscal year.

In related news, insider Dennis I. Kelly acquired 27,000 shares of the business’s stock in a transaction dated Thursday, November 8th. The shares were bought at an average price of $9.06 per share, with a total value of $244,620.00. The transaction was disclosed in a filing with the SEC, which is available through this link.

Several hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new position in shares of GreenSky during the 3rd quarter worth about $3,992,000. BlackRock Inc. boosted its position in shares of GreenSky by 46.4% during the 3rd quarter. BlackRock Inc. now owns 1,914,545 shares of the company’s stock worth $34,463,000 after purchasing an additional 607,173 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of GreenSky by 124.8% during the 3rd quarter. Wells Fargo & Company MN now owns 1,904,289 shares of the company’s stock worth $34,278,000 after purchasing an additional 1,057,371 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of GreenSky during the 3rd quarter worth about $1,973,000. Finally, Mycio Wealth Partners LLC bought a new position in shares of GreenSky during the 3rd quarter worth about $180,000. 31.30% 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.

Further Reading: Hedge Funds Explained

Analyst Recommendations for GreenSky (NASDAQ:GSKY)

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