StockNews.com Downgrades Green Dot (NYSE:GDOT) to Sell

StockNews.com cut shares of Green Dot (NYSE:GDOT) from a hold rating to a sell rating in a report published on Tuesday.

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

Green Dot Trading Up 2.6 %

Shares of NYSE:GDOT opened at $8.43 on Tuesday. Green Dot has a twelve month low of $7.30 and a twelve month high of $21.37. The company’s 50 day moving average is $8.61 and its 200 day moving average is $9.50. The company has a market cap of $445.09 million, a PE ratio of 64.81 and a beta of 1.04.

Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Green Dot had a net margin of 0.45% and a return on equity of 6.78%. The company had revenue of $361.72 million for the quarter, compared to the consensus estimate of $350.14 million. Equities research analysts predict that Green Dot will post 0.9 earnings per share for the current fiscal year.

Insider Activity at Green Dot

In related news, insider Principal Co Lp Starboard sold 75,729 shares of Green Dot stock in a transaction on Friday, March 8th. The shares were sold at an average price of $8.58, for a total value of $649,754.82. Following the sale, the insider now owns 270,207 shares of the company’s stock, valued at approximately $2,318,376.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CRO Christian Devin Ruppel acquired 33,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were bought at an average price of $9.06 per share, for a total transaction of $298,980.00. Following the acquisition, the executive now owns 101,715 shares of the company’s stock, valued at approximately $921,537.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Principal Co Lp Starboard sold 75,729 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $8.58, for a total value of $649,754.82. Following the completion of the transaction, the insider now owns 270,207 shares in the company, valued at approximately $2,318,376.06. The disclosure for this sale can be found here. 11.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new position in Green Dot in the 4th quarter valued at $39,000. Meeder Asset Management Inc. purchased a new position in Green Dot in the 4th quarter valued at $53,000. PNC Financial Services Group Inc. lifted its holdings in Green Dot by 22.7% in 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 raised its holdings in shares of 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 worth $73,000 after acquiring an additional 2,074 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its holdings in shares of 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 worth $79,000 after acquiring an additional 6,534 shares during the period. Hedge funds and other institutional investors own 92.56% of the company’s stock.

Green Dot Company Profile

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.