Franklin Resources Inc. lifted its position in shares of GreenSky Inc (NASDAQ:GSKY) by 47.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,899,243 shares of the company’s stock after buying an additional 932,592 shares during the period. Franklin Resources Inc. owned about 1.55% of GreenSky worth $52,186,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Sei Investments Co. purchased a new position in shares of GreenSky during the 2nd quarter valued at about $118,000. EJF Capital LLC purchased a new position in shares of GreenSky during the 2nd quarter valued at about $212,000. California Public Employees Retirement System purchased a new position in shares of GreenSky during the 2nd quarter valued at about $212,000. Mycio Wealth Partners LLC purchased a new position in shares of GreenSky during the 3rd quarter valued at about $180,000. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of GreenSky during the 2nd quarter valued at about $235,000. 35.19% of the stock is currently owned by institutional investors.
Shares of GreenSky stock opened at $9.00 on Friday. GreenSky Inc has a one year low of $8.55 and a one year high of $27.01.
GreenSky (NASDAQ:GSKY) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. The company had revenue of $113.91 million during the quarter, compared to analysts’ expectations of $121.28 million. The firm’s quarterly revenue was up 29.0% on a year-over-year basis. On average, equities analysts anticipate that GreenSky Inc will post 0.57 EPS for the current year.
A number of equities analysts recently weighed in on the company. Zacks Investment Research raised GreenSky from a “sell” rating to a “hold” rating in a report on Thursday. Morgan Stanley cut GreenSky from an “overweight” rating to an “equal weight” rating and set a $10.00 price objective on the stock. in a report on Thursday, November 8th. SunTrust Banks decreased their price objective on GreenSky to $11.00 and set a “buy” rating on the stock in a report on Wednesday, November 7th. Compass Point cut GreenSky from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $22.00 to $11.00 in a report on Wednesday, November 7th. Finally, Goldman Sachs Group cut GreenSky from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $31.00 to $11.00 in a report on Wednesday, November 7th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $20.62.
In related news, insider Dennis I. Kelly purchased 27,000 shares of the firm’s stock in a transaction on Thursday, November 8th. The shares were acquired at an average cost of $9.06 per share, with a total value of $244,620.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.
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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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