Green Dot (NYSE:GDOT) Stock Passes Above 200-Day Moving Average – Here’s Why

Green Dot Corporation (NYSE:GDOT) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.26 and traded as high as $13.71. Green Dot shares last traded at $13.5030, with a volume of 762,179 shares.

Analysts Set New Price Targets

Several analysts have weighed in on GDOT shares. Wall Street Zen raised Green Dot from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Green Dot in a research report on Tuesday, April 21st. Craig Hallum restated a “buy” rating and issued a $18.00 target price on shares of Green Dot in a research note on Tuesday, March 17th. Finally, Zacks Research raised shares of Green Dot from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.75.

Green Dot Trading Up 2.3%

The stock has a market cap of $765.35 million, a PE ratio of -10.23 and a beta of 0.86. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average price is $12.65 and its 200 day moving average price is $12.26.

Green Dot (NYSE:GDOT) last issued its earnings results on Monday, May 11th. The financial services provider reported $1.12 EPS for the quarter, beating the consensus estimate of $0.88 by $0.24. The business had revenue of $652.03 million for the quarter, compared to the consensus estimate of $597.39 million. Green Dot had a positive return on equity of 7.56% and a negative net margin of 3.25%. On average, sell-side analysts forecast that Green Dot Corporation will post 1.33 EPS for the current year.

Institutional Trading of Green Dot

A number of large investors have recently made changes to their positions in GDOT. Western Standard LLC lifted its holdings in shares of Green Dot by 14.8% during the 3rd quarter. Western Standard LLC now owns 666,330 shares of the financial services provider’s stock valued at $8,949,000 after buying an additional 85,945 shares during the period. Acuitas Investments LLC purchased a new stake in Green Dot in the third quarter worth about $3,648,000. American Century Companies Inc. increased its position in Green Dot by 22.2% in the third quarter. American Century Companies Inc. now owns 1,730,308 shares of the financial services provider’s stock worth $23,238,000 after buying an additional 314,145 shares in the last quarter. Credit Industriel ET Commercial purchased a new position in Green Dot during the fourth quarter valued at approximately $1,281,000. Finally, Portolan Capital Management LLC boosted its position in shares of Green Dot by 15.3% in the third quarter. Portolan Capital Management LLC now owns 1,615,280 shares of the financial services provider’s stock worth $21,693,000 after purchasing an additional 214,152 shares during the period. 92.56% of the stock is currently owned by institutional investors.

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.