Green Dot (NYSE:GDOT) Price Target Lowered to $30.00 at Needham & Company LLC

Green Dot (NYSE:GDOTGet Rating) had its price objective lowered by Needham & Company LLC from $35.00 to $30.00 in a research report report published on Friday morning, Marketbeat Ratings reports. Needham & Company LLC currently has a buy rating on the financial services provider’s stock.

Green Dot Trading Down 13.4 %

Shares of NYSE GDOT opened at $24.52 on Friday. The stock has a market capitalization of $1.33 billion, a PE ratio of 26.95 and a beta of 0.95. The stock’s fifty day simple moving average is $26.33 and its two-hundred day simple moving average is $27.75. Green Dot has a 12-month low of $22.27 and a 12-month high of $54.90.

Green Dot (NYSE:GDOTGet Rating) last announced its earnings results on Thursday, August 4th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.22. Green Dot had a return on equity of 9.70% and a net margin of 3.52%. The business had revenue of $362.80 million for the quarter, compared to analysts’ expectations of $362.08 million. During the same quarter last year, the firm earned $0.56 EPS. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, equities analysts predict that Green Dot will post 1.66 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Rajeev V. Date sold 6,214 shares of the firm’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $29.20, for a total value of $181,448.80. Following the completion of the transaction, the director now owns 19,440 shares in the company, valued at approximately $567,648. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 7,714 shares of company stock worth $220,024. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Green Dot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its stake in shares of Green Dot by 6.3% during the 1st quarter. Teacher Retirement System of Texas now owns 10,168 shares of the financial services provider’s stock valued at $279,000 after buying an additional 604 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Green Dot by 9.5% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,888 shares of the financial services provider’s stock valued at $217,000 after buying an additional 682 shares during the last quarter. Profund Advisors LLC raised its stake in shares of Green Dot by 15.5% during the 4th quarter. Profund Advisors LLC now owns 6,068 shares of the financial services provider’s stock valued at $220,000 after buying an additional 814 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Green Dot by 132.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,560 shares of the financial services provider’s stock valued at $49,000 after buying an additional 890 shares during the last quarter. Finally, Diversified Investment Strategies LLC raised its stake in shares of Green Dot by 1.2% during the 2nd quarter. Diversified Investment Strategies LLC now owns 103,795 shares of the financial services provider’s stock valued at $2,606,000 after buying an additional 1,235 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Green Dot Company Profile

(Get Rating)

Green Dot Corporation, a financial technology and bank holding company, provides various financial products 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 offers deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.

See Also

Analyst Recommendations for Green Dot (NYSE:GDOT)

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