StockNews.com Lowers Green Dot (NYSE:GDOT) to Sell

StockNews.com downgraded shares of Green Dot (NYSE:GDOT) from a hold rating to a sell rating in a report published on Thursday.

Several other research firms also recently weighed in on GDOT. Truist Financial upped their price objective on shares of Green Dot from $10.00 to $11.00 and gave the stock a buy rating in a report on Thursday, February 29th. TheStreet cut shares of Green Dot from a c- rating to a d rating in a research report on Thursday, February 1st. Finally, Keefe, Bruyette & Woods decreased their price objective on Green Dot from $12.50 to $11.00 and set a market perform rating for the company in a report on Friday, April 5th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $10.75.

Green Dot Stock Performance

NYSE:GDOT opened at $9.22 on Thursday. The company has a 50 day simple moving average of $8.71 and a two-hundred day simple moving average of $9.17. Green Dot has a fifty-two week low of $7.30 and a fifty-two week high of $21.37. The company has a market capitalization of $487.09 million, a PE ratio of 70.93 and a beta of 1.03.

Green Dot (NYSE:GDOT) last released its earnings results on Tuesday, February 27th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Green Dot had a net margin of 0.45% and a return on equity of 6.78%. The company had revenue of $361.72 million for the quarter, compared to the consensus estimate of $350.14 million. Research analysts predict that Green Dot will post 0.9 EPS for the current year.

Insiders Place Their Bets

In other Green Dot news, CRO Christian Devin Ruppel bought 33,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were purchased at an average price of $9.06 per share, for a total transaction of $298,980.00. Following the purchase, the executive now directly owns 101,715 shares of the company’s stock, valued at $921,537.90. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Principal Co Lp Starboard sold 75,729 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $8.58, for a total transaction of $649,754.82. Following the completion of the transaction, the insider now owns 270,207 shares in the company, valued at $2,318,376.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Christian Devin Ruppel acquired 33,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were bought at an average price of $9.06 per share, with a total value of $298,980.00. Following the acquisition, the executive now directly owns 101,715 shares of the company’s stock, valued at approximately $921,537.90. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in Green Dot during the third quarter valued at $363,000. Exchange Traded Concepts LLC bought a new position in shares of Green Dot during the 3rd quarter worth $364,000. Bailard Inc. purchased a new stake in Green Dot in the 3rd quarter worth about $547,000. New York State Teachers Retirement System raised its stake in Green Dot by 5.5% in the 3rd quarter. New York State Teachers Retirement System now owns 63,115 shares of the financial services provider’s stock valued at $879,000 after acquiring an additional 3,281 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Green Dot by 46.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,191 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 3,539 shares during the last quarter. 92.56% of the stock is owned by institutional investors.

Green Dot Company Profile

Green Dot Corporation, a financial technology and registered bank holding company, provides various financial services to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services. The company provides deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.