Green Dot (NYSE:GDOT) Stock Rating Raised to Hold at Zacks Research

Zacks Research upgraded shares of Green Dot (NYSE:GDOT) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks reports.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Green Dot in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $16.12.

Green Dot Price Performance

Green Dot stock opened at $12.32 on Tuesday. Green Dot has a 1 year low of $10.10 and a 1 year high of $13.75. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.45 and a current ratio of 0.45. The firm has a 50 day moving average price of $13.06 and a 200 day moving average price of $12.82. The company has a market cap of $701.95 million, a price-to-earnings ratio of -24.15 and a beta of 0.83.

Green Dot (NYSE:GDOT) last posted its quarterly earnings results on Monday, August 10th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Sell-side analysts predict that Green Dot will post 1.32 earnings per share for the current year.

Institutional Trading of Green Dot

A number of institutional investors have recently modified their holdings of GDOT. Jacobs Asset Management LLC grew its stake in Green Dot by 115.2% during the first quarter. Jacobs Asset Management LLC now owns 225,000 shares of the financial services provider’s stock worth $2,524,000 after buying an additional 120,464 shares during the period. Walmart Inc. acquired a new stake in shares of Green Dot in the second quarter worth $13,172,000. OMERS ADMINISTRATION Corp increased its position in shares of Green Dot by 167.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 330,200 shares of the financial services provider’s stock worth $3,705,000 after acquiring an additional 206,600 shares in the last quarter. Newtyn Management LLC raised its stake in shares of Green Dot by 743.7% in the 2nd quarter. Newtyn Management LLC now owns 1,203,203 shares of the financial services provider’s stock valued at $16,255,000 after acquiring an additional 1,060,598 shares during the period. Finally, Rangeley Capital LLC purchased a new position in shares of Green Dot in the 1st quarter valued at $1,826,000. Hedge funds and other institutional investors own 92.56% of the company’s stock.

About Green Dot

Green Dot Corporation is a financial technology and bank holding company that provides digital banking, prepaid debit card, payment processing and money-movement services in the United States. Through its subsidiary, Green Dot Bank, the company offers FDIC-insured banking products and supports consumers who may be underserved by traditional financial institutions.

The company’s products include checking accounts, debit cards, direct-deposit services, cash deposits, bill payment, mobile banking tools and tax-related financial services.