Green Dot (NYSE:GDOT) Stock Rating Lowered by Wall Street Zen

Green Dot (NYSE:GDOT) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Green Dot in a report on Thursday, January 22nd. Northland Securities set a $14.25 price objective on Green Dot and gave the stock a “market perform” rating in a research note on Tuesday, November 25th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Green Dot currently has a consensus rating of “Reduce” and an average price target of $12.08.

Green Dot Stock Down 6.2%

Shares of Green Dot stock opened at $10.54 on Friday. The business has a 50-day moving average price of $12.00 and a 200 day moving average price of $12.56. Green Dot has a fifty-two week low of $6.59 and a fifty-two week high of $15.41. The firm has a market cap of $583.85 million, a P/E ratio of -12.39 and a beta of 0.82. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.07.

Hedge Funds Weigh In On Green Dot

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Green Dot by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,801 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 1,341 shares during the period. Caxton Associates LLP bought a new stake in shares of Green Dot in the 1st quarter worth approximately $96,000. Empowered Funds LLC boosted its position in Green Dot by 7.2% during the 1st quarter. Empowered Funds LLC now owns 198,919 shares of the financial services provider’s stock valued at $1,679,000 after purchasing an additional 13,437 shares during the period. Jane Street Group LLC boosted its position in Green Dot by 235.6% during the 1st quarter. Jane Street Group LLC now owns 447,546 shares of the financial services provider’s stock valued at $3,777,000 after purchasing an additional 314,208 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in Green Dot during the 2nd quarter worth $208,000. 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.