GreenSky Target of Unusually Large Options Trading (GSKY)

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GreenSky Inc (NASDAQ:GSKY) was the target of unusually large options trading activity on Monday. Investors acquired 3,495 call options on the stock. This represents an increase of 1,993% compared to the typical daily volume of 167 call options.

Several brokerages have recently weighed in on GSKY. BTIG Research lowered shares of GreenSky from a “buy” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a report on Tuesday. Compass Point upgraded shares of GreenSky from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Thursday, August 16th. They noted that the move was a valuation call. Cowen upgraded shares of GreenSky from a “neutral” rating to a “buy” rating in a report on Thursday, August 16th. Sandler O’Neill reiterated a “hold” rating and set a $20.00 price objective on shares of GreenSky in a report on Wednesday, August 8th. Finally, Credit Suisse Group cut their price objective on shares of GreenSky from $29.00 to $28.00 and set an “outperform” rating on the stock in a report on Wednesday, August 8th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. GreenSky currently has an average rating of “Buy” and an average price target of $26.23.

NASDAQ GSKY opened at $9.28 on Wednesday. GreenSky has a one year low of $8.55 and a one year high of $27.01.

GreenSky (NASDAQ:GSKY) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The business had revenue of $113.91 million during the quarter, compared to analysts’ expectations of $121.28 million. The business’s revenue for the quarter was up 29.0% compared to the same quarter last year. On average, analysts expect that GreenSky will post 0.65 EPS for the current year.

In related news, Director Nigel W. Morris acquired 62,500 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were acquired at an average cost of $15.69 per share, for a total transaction of $980,625.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sei Investments Co. purchased a new position in GreenSky in the second quarter valued at approximately $118,000. EJF Capital LLC purchased a new position in GreenSky in the second quarter valued at approximately $212,000. California Public Employees Retirement System purchased a new position in GreenSky in the second quarter valued at approximately $212,000. Mycio Wealth Partners LLC purchased a new position in GreenSky in the third quarter valued at approximately $180,000. Finally, Gilder Gagnon Howe & Co. LLC purchased a new position in GreenSky in the second quarter valued at approximately $229,000. Hedge funds and other institutional investors own 31.30% of the company’s stock.

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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.

See Also: Outstanding Shares

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