Green Dot (NYSE:GDOT) Shares Gap Down on Analyst Downgrade

Green Dot Co. (NYSE:GDOT)’s stock price gapped down prior to trading on Monday after Guggenheim downgraded the stock from a buy rating to a neutral rating. The stock had previously closed at $25.85, but opened at $24.54. Green Dot shares last traded at $24.47, with a volume of 20,577 shares trading hands.

GDOT has been the topic of several other research reports. SunTrust Banks lowered their target price on shares of Green Dot to $40.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Zacks Investment Research raised shares of Green Dot from a “sell” rating to a “hold” rating and set a $29.00 target price on the stock in a report on Tuesday, August 13th. TheStreet downgraded shares of Green Dot from a “b-” rating to a “c+” rating in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 target price on shares of Green Dot in a report on Friday, November 8th. Finally, Deutsche Bank lifted their target price on shares of Green Dot from $29.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $42.83.

In related news, CRO Brett Narlinger sold 5,602 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $28.32, for a total transaction of $158,648.64. Following the sale, the executive now owns 71,624 shares of the company’s stock, valued at $2,028,391.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.80% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama boosted its holdings in Green Dot by 0.4% during the second quarter. Retirement Systems of Alabama now owns 62,223 shares of the financial services provider’s stock worth $3,043,000 after buying an additional 226 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Green Dot by 38.1% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,346 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 371 shares during the last quarter. Profund Advisors LLC raised its position in Green Dot by 9.3% during the second quarter. Profund Advisors LLC now owns 6,077 shares of the financial services provider’s stock worth $297,000 after acquiring an additional 515 shares during the last quarter. Arizona State Retirement System raised its position in Green Dot by 1.5% during the second quarter. Arizona State Retirement System now owns 34,720 shares of the financial services provider’s stock worth $1,698,000 after acquiring an additional 522 shares during the last quarter. Finally, Pitcairn Co. raised its position in Green Dot by 10.0% during the second quarter. Pitcairn Co. now owns 6,558 shares of the financial services provider’s stock worth $321,000 after acquiring an additional 595 shares during the last quarter. 79.58% of the stock is currently owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 10.25 and a beta of 1.11. The business’s 50-day simple moving average is $25.50 and its 200-day simple moving average is $39.50.

Green Dot (NYSE:GDOT) last announced its earnings results on Thursday, November 7th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.32. The company had revenue of $240.40 million during the quarter, compared to analysts’ expectations of $232.94 million. Green Dot had a net margin of 10.25% and a return on equity of 14.94%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 earnings per share. As a group, sell-side analysts forecast that Green Dot Co. will post 2.18 EPS for the current year.

Green Dot Company Profile (NYSE:GDOT)

Green Dot Corporation operates as a financial technology and bank holding company in the United States. It operates in two segments, Account Services, and Processing and Settlement Services. The company offers deposit account programs, such network-branded reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer and small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.

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