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 research note published on Tuesday.

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

Green Dot Stock Up 1.1 %

Shares of GDOT opened at $8.51 on Tuesday. The stock has a market capitalization of $449.58 million, a P/E ratio of 65.47 and a beta of 1.04. The firm has a fifty day simple moving average of $8.61 and a two-hundred day simple moving average of $9.46. Green Dot has a twelve month low of $7.30 and a twelve month high of $21.37.

Green Dot (NYSE:GDOT) last announced its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $361.72 million during the quarter, compared to analysts’ expectations of $350.14 million. Green Dot had a net margin of 0.45% and a return on equity of 6.78%. Sell-side analysts expect that Green Dot will post 0.9 EPS for the current fiscal year.

Insider Transactions at Green Dot

In related news, CRO Christian Devin Ruppel bought 33,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was purchased at an average cost of $9.06 per share, with a total value of $298,980.00. Following the transaction, the executive now owns 101,715 shares in the company, valued at approximately $921,537.90. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Principal Co Lp Starboard sold 150,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $8.17, for a total value of $1,225,500.00. Following the completion of the transaction, the insider now directly owns 276,595 shares in the company, valued at approximately $2,259,781.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Christian Devin Ruppel purchased 33,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was acquired at an average price of $9.06 per share, with a total value of $298,980.00. Following the completion of the purchase, the executive now owns 101,715 shares in the company, valued at $921,537.90. The disclosure for this purchase can be found here. Corporate insiders own 11.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GDOT. Point72 Hong Kong Ltd bought a new position in shares of Green Dot in the 4th quarter worth about $39,000. Meeder Asset Management Inc. bought a new stake in Green Dot during the 4th quarter valued at about $53,000. PNC Financial Services Group Inc. increased its stake in Green Dot by 22.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,718 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 688 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Green Dot by 39.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 7,352 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 2,074 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in Green Dot by 443.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 8,009 shares of the financial services provider’s stock valued at $79,000 after purchasing an additional 6,534 shares in the last quarter. 92.56% of the stock is currently owned by institutional investors.

About Green Dot

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.