Green Dot (NYSE:GDOT) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Green Dot (NYSE:GDOT) released its quarterly earnings results on Monday. The financial services provider reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.04, FiscalAI reports. The firm had revenue of $519.72 million for the quarter, compared to analysts’ expectations of $508.09 million. Green Dot had a positive return on equity of 6.86% and a negative net margin of 4.75%.

Green Dot Price Performance

NYSE GDOT opened at $11.35 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.07. Green Dot has a 12 month low of $6.59 and a 12 month high of $15.41. The stock has a market cap of $629.02 million, a price-to-earnings ratio of -6.38 and a beta of 0.82. The company’s 50 day moving average is $11.93 and its two-hundred day moving average is $12.53.

Institutional Trading of Green Dot

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Steel Partners Holdings L.P. purchased a new position in shares of Green Dot during the 4th quarter valued at $48,332,000. No Street GP LP boosted its holdings in Green Dot by 150.0% in the 3rd quarter. No Street GP LP now owns 4,000,000 shares of the financial services provider’s stock worth $53,720,000 after buying an additional 2,400,000 shares during the period. Oberweis Asset Management Inc. purchased a new stake in Green Dot in the 3rd quarter worth $13,031,000. Weiss Asset Management LP bought a new stake in Green Dot during the fourth quarter valued at about $10,801,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Green Dot during the fourth quarter valued at about $8,877,000. 92.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on GDOT shares. Northland Securities set a $14.25 price objective on Green Dot and gave the company a “market perform” rating in a research report on Tuesday, November 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Green Dot in a research report on Thursday, January 22nd. Wall Street Zen downgraded Green Dot from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Craig Hallum reaffirmed a “buy” rating and set a $18.00 price target on shares of Green Dot in a research report on Tuesday. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Green Dot currently has an average rating of “Reduce” and a consensus price target of $13.56.

Green Dot Company Profile

Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company that provides prepaid debit cards, cash reload processing services and consumer banking products through its subsidiary, Green Dot Bank. The firm offers reloadable prepaid cards under its own brand and through partnerships with retailers, payments networks and banks. In addition to consumer-focused prepaid card accounts, Green Dot delivers payroll card services, government disbursement programs and B2B payment solutions that enable businesses to distribute funds digitally to end users.

Founded in 1999 by Steve Streit and headquartered in Austin, Texas, Green Dot began as a prepaid MasterCard provider sold through retail outlets.