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

Green Dot (NYSE:GDOT) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

GDOT has been the subject of several other research reports. TheStreet downgraded shares of Green Dot from a “c-” rating to a “d” rating in a report on Thursday, February 1st. Truist Financial boosted their price target on shares of Green Dot from $10.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Green Dot from $12.50 to $11.00 and set a “market perform” rating for the company in a report 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 MarketBeat, Green Dot currently has an average rating of “Hold” and a consensus target price of $10.75.

Green Dot Price Performance

Green Dot stock opened at $9.09 on Thursday. The company has a market cap of $480.22 million, a PE ratio of 69.92 and a beta of 1.04. The company has a fifty day moving average price of $8.67 and a two-hundred day moving average price of $9.21. Green Dot has a 12 month low of $7.30 and a 12 month high of $21.37.

Green Dot (NYSE:GDOT) last announced its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $350.14 million. Equities research analysts anticipate that Green Dot will post 0.9 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Principal Co Lp Starboard sold 150,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $8.17, for a total value of $1,225,500.00. Following the completion of the sale, the insider now owns 276,595 shares of the company’s stock, valued at $2,259,781.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Green Dot news, insider Principal Co Lp Starboard sold 150,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $8.17, for a total value of $1,225,500.00. Following the sale, the insider now directly owns 276,595 shares in the company, valued at $2,259,781.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Christian Devin Ruppel purchased 33,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was acquired at an average price of $9.06 per share, for a total transaction of $298,980.00. Following the completion of the transaction, the executive now owns 101,715 shares of the company’s stock, valued at approximately $921,537.90. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Green Dot

Several institutional investors and hedge funds have recently bought and sold shares of GDOT. SG Americas Securities LLC acquired a new stake in Green Dot during the 3rd quarter worth about $363,000. Exchange Traded Concepts LLC purchased a new position in Green Dot during the 3rd quarter valued at about $364,000. Bailard Inc. purchased a new position in Green Dot during the 3rd quarter valued at about $547,000. New York State Teachers Retirement System grew its stake in Green Dot by 5.5% during the 3rd quarter. New York State Teachers Retirement System now owns 63,115 shares of the financial services provider’s stock valued at $879,000 after acquiring an additional 3,281 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Green Dot by 46.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,191 shares of the financial services provider’s stock valued at $156,000 after acquiring an additional 3,539 shares in the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.

About Green Dot

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.