Green Dot Corporation (NYSE:GDOT) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Green Dot Corporation (NYSE:GDOT) have earned a consensus rating of “Reduce” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $12.5625.

Several analysts have recently commented on GDOT shares. Northland Securities set a $14.25 price objective on shares of Green Dot and gave the company a “market perform” rating in a report on Tuesday, November 25th. Wall Street Zen lowered shares of Green Dot from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. William Blair reiterated a “market perform” rating on shares of Green Dot in a research note on Tuesday, November 11th. Zacks Research cut Green Dot from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Green Dot in a report on Thursday, January 22nd.

Green Dot Stock Down 1.0%

Green Dot stock opened at $11.80 on Thursday. The business’s 50-day simple moving average is $12.60 and its two-hundred day simple moving average is $12.59. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market cap of $654.18 million, a PE ratio of -13.89 and a beta of 0.81. Green Dot has a fifty-two week low of $6.12 and a fifty-two week high of $15.41.

Green Dot (NYSE:GDOT) last released its earnings results on Monday, November 10th. The financial services provider reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.17. Green Dot had a positive return on equity of 9.81% and a negative net margin of 2.33%.The firm had revenue of $491.85 million during the quarter, compared to the consensus estimate of $483.84 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company’s revenue was up 20.8% compared to the same quarter last year. Equities analysts anticipate that Green Dot will post 0.87 EPS for the current year.

Insider Buying and Selling

In related news, Director Saturnino Sixto Fanlo sold 13,451 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $12.61, for a total transaction of $169,617.11. Following the sale, the director owned 92,737 shares in the company, valued at approximately $1,169,413.57. This trade represents a 12.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Chris Brewster sold 7,969 shares of Green Dot stock in a transaction on Friday, November 28th. The shares were sold at an average price of $12.37, for a total transaction of $98,576.53. Following the completion of the transaction, the director directly owned 133,215 shares of the company’s stock, valued at $1,647,869.55. The trade was a 5.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Green Dot

Institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new position in Green Dot in the 3rd quarter worth about $29,000. Virtus Advisers LLC purchased a new stake in shares of Green Dot in the second quarter valued at approximately $33,000. Ameritas Investment Partners Inc. raised its stake in shares of Green Dot by 18.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,478 shares of the financial services provider’s stock worth $59,000 after buying an additional 861 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Green Dot by 23.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,504 shares of the financial services provider’s stock valued at $70,000 after buying an additional 1,221 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Green Dot by 131.8% during the 2nd quarter. CWM LLC now owns 8,664 shares of the financial services provider’s stock valued at $93,000 after buying an additional 4,926 shares in the last quarter. 92.56% of the stock is currently owned by institutional investors and hedge funds.

About Green Dot

Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company that provides prepaid debit cards, cash reload processing services and consumer banking products through its subsidiary, Green Dot Bank. The firm offers reloadable prepaid cards under its own brand and through partnerships with retailers, payments networks and banks. In addition to consumer-focused prepaid card accounts, Green Dot delivers payroll card services, government disbursement programs and B2B payment solutions that enable businesses to distribute funds digitally to end users.

Founded in 1999 by Steve Streit and headquartered in Austin, Texas, Green Dot began as a prepaid MasterCard provider sold through retail outlets.