Green Dot Co. (NYSE:GDOT) Short Interest Update

Green Dot Co. (NYSE:GDOT) was the target of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 1,480,000 shares, a decline of 10.8% from the August 31st total of 1,660,000 shares. Based on an average daily volume of 466,800 shares, the short-interest ratio is currently 3.2 days. Approximately 2.9% of the company’s stock are sold short.

Hedge Funds Weigh In On Green Dot

A number of large investors have recently modified their holdings of GDOT. nVerses Capital LLC acquired a new position in Green Dot during the second quarter worth $25,000. Nisa Investment Advisors LLC grew its stake in shares of Green Dot by 162.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,602 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,609 shares during the period. Headlands Technologies LLC grew its stake in shares of Green Dot by 89.2% during the 1st quarter. Headlands Technologies LLC now owns 2,743 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,293 shares during the period. UMB Bank n.a. increased its holdings in shares of Green Dot by 98.3% in the 1st quarter. UMB Bank n.a. now owns 2,855 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,415 shares in the last quarter. Finally, Quarry LP purchased a new stake in Green Dot during the second quarter worth about $32,000. 92.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GDOT has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $11.00 price target on shares of Green Dot in a report on Monday, July 22nd. Barclays upped their price target on Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $11.50.

Green Dot Price Performance

Green Dot stock opened at $11.71 on Tuesday. The business has a 50 day simple moving average of $10.74 and a 200-day simple moving average of $9.82. Green Dot has a 12 month low of $7.30 and a 12 month high of $14.05. The stock has a market capitalization of $623.09 million, a PE ratio of -24.91 and a beta of 0.91.

Green Dot (NYSE:GDOT) last released its earnings results on Thursday, August 8th. The financial services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. Green Dot had a negative net margin of 3.41% and a positive return on equity of 4.01%. The company had revenue of $407.10 million during the quarter, compared to analysts’ expectations of $381.87 million. During the same quarter last year, the business earned $0.20 EPS. The business’s revenue was up 11.3% on a year-over-year basis. As a group, equities research analysts anticipate that Green Dot will post 1 EPS for the current year.

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.