Green Dot (NYSE:GDOT) Stock Falls 6.8% – What’s Next?

Green Dot Corporation (NYSE:GDOT)’s share price traded down 6.8% on Friday. The stock traded as low as $12.21 and last traded at $11.9240. Approximately 324,255 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 505,413 shares. The stock had previously closed at $12.79.

Analysts Set New Price Targets

A number of analysts have recently commented on GDOT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Green Dot in a research report on Friday, July 17th. Zacks Research cut shares of Green Dot from a “hold” rating to a “strong sell” rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $16.12.

Green Dot Price Performance

The firm has a market capitalization of $668.55 million, a PE ratio of -23.05 and a beta of 0.82. The stock’s 50 day simple moving average is $13.29 and its two-hundred day simple moving average is $12.69. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.45 and a current ratio of 0.45.

Green Dot (NYSE:GDOT) last posted its quarterly earnings results on Monday, August 10th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). The company had revenue of $591.29 million for the quarter, compared to analysts’ expectations of $541.16 million. Green Dot had a positive return on equity of 6.92% and a negative net margin of 1.14%. On average, sell-side analysts forecast that Green Dot Corporation will post 1.32 EPS for the current year.

Hedge Funds Weigh In On Green Dot

Hedge funds have recently bought and sold shares of the company. Engineers Gate Manager LP lifted its position in shares of Green Dot by 81.3% during the 2nd quarter. Engineers Gate Manager LP now owns 77,256 shares of the financial services provider’s stock worth $1,044,000 after purchasing an additional 34,637 shares during the last quarter. Newtyn Management LLC increased its holdings in Green Dot by 743.7% in the second quarter. Newtyn Management LLC now owns 1,203,203 shares of the financial services provider’s stock valued at $16,255,000 after buying an additional 1,060,598 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Green Dot in the second quarter valued at $26,000. Walmart Inc. acquired a new stake in Green Dot in the second quarter valued at $13,172,000. Finally, Rangeley Capital LLC purchased a new stake in Green Dot during the 1st quarter worth about $1,826,000. Institutional investors and hedge funds own 92.56% of the company’s stock.

Green Dot Company Profile

Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company that provides digital banking, payment and financial services to consumers and businesses in the United States. Through its subsidiaries, including Green Dot Bank, the company offers checking and savings accounts, prepaid debit cards, mobile banking tools, direct deposit services and money-transfer products.

Green Dot markets products under its own brands, including GO2bank, and provides program management and banking services for business partners.