Green Dot (NYSE:GDOT) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Green Dot (NYSE:GDOT) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

Several other research analysts also recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Green Dot in a report on Tuesday, April 21st. Craig Hallum reaffirmed a “buy” rating and issued a $18.00 price target on shares of Green Dot in a report on Tuesday, March 17th. Finally, Wall Street Zen upgraded Green Dot from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $16.12.

Green Dot Trading Down 0.5%

Shares of GDOT opened at $13.35 on Monday. The business’s 50-day moving average price is $12.97 and its 200-day moving average price is $12.29. Green Dot has a twelve month low of $9.31 and a twelve month high of $15.41. The stock has a market cap of $756.51 million, a PE ratio of -10.11 and a beta of 0.83. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.07.

Green Dot (NYSE:GDOT) last announced its quarterly earnings results on Monday, May 11th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.24. Green Dot had a negative net margin of 3.25% and a positive return on equity of 7.56%. The firm had revenue of $652.03 million for the quarter, compared to the consensus estimate of $597.39 million. On average, equities analysts forecast that Green Dot will post 1.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Green Dot

Large investors have recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new position in shares of Green Dot in the 4th quarter worth about $66,000. Tower Research Capital LLC TRC raised its holdings in shares of Green Dot by 23.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,504 shares of the financial services provider’s stock valued at $70,000 after buying an additional 1,221 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Green Dot during the 1st quarter valued at about $96,000. OLD National Bancorp IN bought a new stake in Green Dot in the 4th quarter worth approximately $128,000. Finally, DRW Securities LLC bought a new stake in Green Dot in the 4th quarter worth approximately $154,000. Hedge funds and other institutional investors own 92.56% of the company’s stock.

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.