Green Dot Corporation (NYSE:GDOT) Receives Average Recommendation of “Reduce” from Analysts

Green Dot Corporation (NYSE:GDOT) has earned an average recommendation of “Reduce” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $13.5625.

Several equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Green Dot in a research note on Thursday, January 22nd. Wall Street Zen upgraded Green Dot from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Green Dot in a research report on Tuesday, March 17th.

Institutional Investors Weigh In On Green Dot

Several hedge funds have recently added to or reduced their stakes in the business. Topline Capital Management LLC grew its stake in shares of Green Dot by 7.2% in the second quarter. Topline Capital Management LLC now owns 4,965,286 shares of the financial services provider’s stock valued at $53,526,000 after acquiring an additional 331,817 shares in the last quarter. No Street GP LP raised its stake 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 purchasing an additional 2,400,000 shares in the last quarter. Steel Partners Holdings L.P. bought a new stake in Green Dot in the 4th quarter valued at about $48,332,000. Dimensional Fund Advisors LP grew its position in shares of Green Dot by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,836,651 shares of the financial services provider’s stock worth $36,338,000 after purchasing an additional 56,547 shares in the last quarter. Finally, Western Standard LLC grew its position in shares of Green Dot by 196.8% during the 4th quarter. Western Standard LLC now owns 1,977,500 shares of the financial services provider’s stock worth $25,332,000 after purchasing an additional 1,311,170 shares in the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.

Green Dot Stock Performance

NYSE GDOT opened at $11.10 on Friday. The firm has a market capitalization of $616.53 million, a P/E ratio of -6.23 and a beta of 0.81. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.07. The firm’s fifty day moving average price is $11.63 and its two-hundred day moving average price is $12.32. Green Dot has a 1 year low of $6.59 and a 1 year high of $15.41.

Green Dot (NYSE:GDOT) last announced its quarterly earnings data on Monday, March 16th. The financial services provider reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. The company had revenue of $519.72 million during the quarter, compared to the consensus estimate of $508.09 million. Green Dot had a negative net margin of 4.75% and a positive return on equity of 6.93%. As a group, research analysts anticipate that Green Dot will post 0.87 EPS for the current year.

About Green Dot

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.