Green Dot Corporation (NYSE:GDOT) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
Several other equities analysts also recently issued reports on the stock. Citigroup Inc. reissued a “buy” rating and set a $46.00 price objective (up previously from $40.00) on shares of Green Dot Corporation in a research note on Monday, July 24th. Zacks Investment Research downgraded shares of Green Dot Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Keefe, Bruyette & Woods set a $37.00 price objective on shares of Green Dot Corporation and gave the company a “hold” rating in a research note on Thursday, July 6th. Lake Street Capital began coverage on shares of Green Dot Corporation in a research note on Monday, June 26th. They set a “hold” rating and a $41.00 price objective on the stock. Finally, Jefferies Group LLC reissued a “buy” rating and set a $42.00 price objective on shares of Green Dot Corporation in a research note on Monday, May 22nd. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $39.88.
Shares of Green Dot Corporation (GDOT) opened at 39.67 on Friday. The firm has a market cap of $1.97 billion, a P/E ratio of 40.77 and a beta of 1.06. The stock’s 50 day moving average is $39.51 and its 200-day moving average is $33.90. Green Dot Corporation has a one year low of $21.45 and a one year high of $40.84.
Green Dot Corporation (NYSE:GDOT) last announced its quarterly earnings data on Tuesday, May 9th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.14. The business had revenue of $253 million for the quarter, compared to the consensus estimate of $233.49 million. Green Dot Corporation had a net margin of 6.65% and a return on equity of 10.11%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 earnings per share. Analysts anticipate that Green Dot Corporation will post $1.95 EPS for the current fiscal year.
In related news, CFO Mark L. Shifke sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $36.09, for a total transaction of $180,450.00. Following the completion of the transaction, the chief financial officer now owns 780,062 shares of the company’s stock, valued at $28,152,437.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel John C. Ricci sold 3,686 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $35.97, for a total transaction of $132,585.42. Following the transaction, the general counsel now directly owns 90,032 shares of the company’s stock, valued at approximately $3,238,451.04. The disclosure for this sale can be found here. Insiders have sold 225,996 shares of company stock valued at $8,357,963 in the last ninety days. 11.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of GDOT. BlackRock Inc. raised its position in shares of Green Dot Corporation by 53,389.4% in the first quarter. BlackRock Inc. now owns 5,309,357 shares of the financial services provider’s stock valued at $177,121,000 after buying an additional 5,299,431 shares during the period. Vanguard Group Inc. raised its position in shares of Green Dot Corporation by 11.2% in the first quarter. Vanguard Group Inc. now owns 4,091,807 shares of the financial services provider’s stock valued at $136,503,000 after buying an additional 412,984 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Green Dot Corporation by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,753,768 shares of the financial services provider’s stock valued at $91,865,000 after buying an additional 19,113 shares during the period. State Street Corp raised its position in shares of Green Dot Corporation by 7.1% in the first quarter. State Street Corp now owns 999,048 shares of the financial services provider’s stock valued at $33,324,000 after buying an additional 65,849 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Green Dot Corporation by 91.0% in the second quarter. Russell Investments Group Ltd. now owns 726,097 shares of the financial services provider’s stock valued at $27,975,000 after buying an additional 346,014 shares during the period. 81.21% of the stock is owned by hedge funds and other institutional investors.
About Green Dot Corporation
Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.
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