goeasy (TSE:GSY) Shares Down 16.6% – Here’s What Happened

goeasy Ltd. (TSE:GSY) shares dropped 16.6% on Wednesday. The company traded as low as C$33.84 and last traded at C$37.50. Approximately 402,269 shares changed hands during trading, an increase of 100% from the average daily volume of 201,502 shares. The stock had previously closed at C$44.96.

Analyst Ratings Changes

Several research analysts recently weighed in on GSY shares. National Bank Financial boosted their price target on shares of goeasy from C$43.00 to C$53.00 and gave the stock a “sector perform” rating in a report on Monday, August 10th. Royal Bank Of Canada increased their price objective on shares of goeasy from C$30.00 to C$35.00 in a research note on Monday, August 10th. ATB Cormark Capital Markets cut shares of goeasy from a “market perform” rating to an “underperform” rating and set a C$35.00 target price on the stock. in a research report on Wednesday, July 29th. Jefferies Financial Group boosted their target price on goeasy from C$45.00 to C$51.00 in a research note on Monday, August 10th. Finally, Raymond James Financial upped their target price on goeasy from C$42.00 to C$45.00 and gave the company a “market perform” rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, goeasy has an average rating of “Reduce” and an average price target of C$42.89.

goeasy Trading Down 16.6%

The firm has a 50 day moving average of C$43.68 and a 200 day moving average of C$53.24. The firm has a market cap of C$601.11 million, a PE ratio of -1.80, a P/E/G ratio of 0.84 and a beta of 1.29. The company has a quick ratio of 28.46, a current ratio of 22.81 and a debt-to-equity ratio of 558.73.

Insiders Place Their Bets

In other goeasy news, insider Courtenay Andrew Ames Plaunt sold 2,591 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of C$45.22, for a total transaction of C$117,165.02. Insiders have sold a total of 4,837 shares of company stock worth $217,486 in the last three months. 22.05% of the stock is owned by company insiders.

goeasy Company Profile

goeasy Ltd. is a leading Canadian provider of non-prime consumer lending solutions, offering a suite of financial products through its easyfinancial, easyhome, and LendCare brands. goeasy offers unsecured and secured instalment loans, point-of-sale financing, and lease-to-own merchandise through its omni-channel model, which spans online, mobile, and hundreds of locations nationwide. Driven by its team members’ dedication to expand access to credit for underserved communities and helping customers strengthen their financial futures, goeasy has proudly served more than 1.6 million customers while building an award-winning culture.