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

StockNews.com downgraded shares of Green Dot (NYSE:GDOT) from a hold rating to a sell rating in a research note released on Thursday.

GDOT has been the subject of a number of other reports. TheStreet downgraded Green Dot from a c- rating to a d rating in a research note on Thursday, February 1st. Keefe, Bruyette & Woods reduced their target price 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. Finally, Truist Financial lifted their price target on shares of Green Dot from $10.00 to $11.00 and gave the stock a buy rating in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Green Dot presently has an average rating of Hold and an average target price of $10.75.

Green Dot Stock Performance

Shares of Green Dot stock opened at $9.22 on Thursday. The company has a 50-day simple moving average of $8.71 and a two-hundred day simple moving average of $9.17. The stock has a market capitalization of $487.09 million, a PE ratio of 70.93 and a beta of 1.03. Green Dot has a 52-week low of $7.30 and a 52-week high of $21.37.

Green Dot (NYSE:GDOT) last released its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $361.72 million during the quarter, compared to the consensus estimate of $350.14 million. Green Dot had a return on equity of 6.78% and a net margin of 0.45%. As a group, equities research analysts forecast that Green Dot will post 0.9 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Green Dot

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its holdings in shares of Green Dot by 4.9% in the fourth quarter. SG Americas Securities LLC now owns 27,367 shares of the financial services provider’s stock valued at $271,000 after purchasing an additional 1,285 shares during the period. TD Asset Management Inc lifted its holdings in shares of Green Dot by 7.5% in the 3rd quarter. TD Asset Management Inc now owns 20,000 shares of the financial services provider’s stock worth $279,000 after buying an additional 1,400 shares during the period. UMB Bank n.a. grew its position in shares of Green Dot by 98.3% during the 1st quarter. UMB Bank n.a. now owns 2,855 shares of the financial services provider’s stock worth $27,000 after buying an additional 1,415 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Green Dot by 39.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 7,352 shares of the financial services provider’s stock valued at $73,000 after buying an additional 2,074 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Green Dot by 65.5% during the third quarter. PNC Financial Services Group Inc. now owns 6,152 shares of the financial services provider’s stock valued at $86,000 after buying an additional 2,434 shares during the period. 92.56% of the stock is currently owned by institutional investors.

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.