Green Dot (NYSE:GDOT) Shares Pass Above 200-Day Moving Average – What’s Next?

Green Dot Corporation (NYSE:GDOT) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.31 and traded as high as $13.37. Green Dot shares last traded at $13.2980, with a volume of 264,672 shares.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Zacks Research lowered Green Dot from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Green Dot in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $16.12.

Green Dot Stock Performance

The firm has a market capitalization of $753.73 million, a PE ratio of -10.07 and a beta of 0.83. 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 company has a 50-day moving average of $13.06 and a 200 day moving average of $12.31.

Green Dot (NYSE:GDOT) last released its quarterly earnings results on Monday, May 11th. The financial services provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.24. Green Dot had a positive return on equity of 7.56% and a negative net margin of 3.25%.The firm had revenue of $652.03 million for the quarter, compared to analysts’ expectations of $597.39 million. Equities research analysts predict that Green Dot Corporation will post 1.33 EPS for the current year.

Hedge Funds Weigh In On Green Dot

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its position in Green Dot by 23.1% in the second quarter. Tower Research Capital LLC TRC now owns 6,504 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 1,221 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Green Dot by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,801 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 1,341 shares during the last quarter. OLD National Bancorp IN boosted its holdings in shares of Green Dot by 17.6% in the 1st quarter. OLD National Bancorp IN now owns 11,766 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 1,763 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Green Dot by 4.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 61,367 shares of the financial services provider’s stock worth $662,000 after purchasing an additional 2,412 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Green Dot by 3.6% during the 2nd quarter. Rhumbline Advisers now owns 84,504 shares of the financial services provider’s stock valued at $911,000 after purchasing an additional 2,938 shares during the last quarter. Hedge funds and other institutional investors own 92.56% of the company’s stock.

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.