Green Dot (NYSE:GDOT) Downgraded to Neutral at Guggenheim

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Guggenheim downgraded shares of Green Dot (NYSE:GDOT) from a buy rating to a neutral rating in a research report report published on Monday, The Fly reports.

A number of other research firms have also issued reports on GDOT. Canaccord Genuity initiated coverage on Green Dot in a report on Thursday, September 12th. They set a hold rating and a $29.00 target price on the stock. Keefe, Bruyette & Woods lowered Green Dot from an outperform rating to a market perform rating and lowered their target price for the stock from $60.00 to $35.00 in a report on Thursday, August 8th. Deutsche Bank lifted their target price on Green Dot from $29.00 to $34.00 and gave the stock a hold rating in a report on Wednesday, October 30th. Zacks Investment Research raised Green Dot from a sell rating to a hold rating and set a $29.00 target price on the stock in a report on Tuesday, August 13th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $30.00 target price on shares of Green Dot in a report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Green Dot currently has an average rating of Hold and an average target price of $42.83.

NYSE:GDOT traded up $0.15 during mid-day trading on Monday, reaching $25.53. 521,851 shares of the stock were exchanged, compared to its average volume of 792,117. The business has a fifty day moving average price of $25.43 and a 200 day moving average price of $39.13. The firm has a market capitalization of $1.32 billion, a PE ratio of 10.09 and a beta of 1.11. Green Dot has a 1-year low of $22.45 and a 1-year high of $85.65. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.03.

Green Dot (NYSE:GDOT) last released its earnings results on Thursday, November 7th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.32. The firm had revenue of $240.40 million for the quarter, compared to analyst estimates of $232.94 million. Green Dot had a return on equity of 14.94% and a net margin of 10.25%. Green Dot’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 earnings per share. On average, sell-side analysts forecast that Green Dot will post 2.13 earnings per share for the current year.

In related news, CRO Brett Narlinger sold 5,602 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $28.32, for a total value of $158,648.64. Following the completion of the transaction, the executive now owns 71,624 shares in the company, valued at approximately $2,028,391.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Green Dot by 6.4% in the 2nd quarter. BlackRock Inc. now owns 6,140,997 shares of the financial services provider’s stock valued at $300,294,000 after purchasing an additional 370,866 shares during the period. Vanguard Group Inc. boosted its position in Green Dot by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,494,866 shares of the financial services provider’s stock worth $219,799,000 after acquiring an additional 42,826 shares during the period. Bank of New York Mellon Corp boosted its position in Green Dot by 8.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,945,275 shares of the financial services provider’s stock worth $95,124,000 after acquiring an additional 159,771 shares during the period. Coatue Management LLC acquired a new stake in Green Dot during the 2nd quarter worth about $61,188,000. Finally, Stephens Investment Management Group LLC boosted its position in Green Dot by 23.6% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,106,376 shares of the financial services provider’s stock worth $54,102,000 after acquiring an additional 211,017 shares during the period. Institutional investors and hedge funds own 79.58% of the company’s stock.

About Green Dot

Green Dot Corporation operates as a financial technology and bank holding company in the United States. It operates in two segments, Account Services, and Processing and Settlement Services. The company offers deposit account programs, such network-branded reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer and small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.

See Also: Capital Gains Distribution

The Fly

Analyst Recommendations for Green Dot (NYSE:GDOT)

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