Keefe, Bruyette & Woods Issues Pessimistic Forecast for Green Dot (NYSE:GDOT) Stock Price

Green Dot (NYSE:GDOT) had its target price lowered by equities researchers at Keefe, Bruyette & Woods from $12.00 to $10.00 in a report released on Friday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 37.08% from the stock’s previous close.

Green Dot Stock Down 10.7 %

Shares of NYSE GDOT traded down $0.88 during trading on Friday, reaching $7.30. 572,165 shares of the stock were exchanged, compared to its average volume of 456,920. The company has a market capitalization of $392.38 million, a price-to-earnings ratio of -6.95 and a beta of 0.90. The business’s 50-day moving average price is $9.34 and its 200 day moving average price is $10.53. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.05. Green Dot has a twelve month low of $6.97 and a twelve month high of $13.58.

Insider Buying and Selling at Green Dot

In related news, major shareholder Topline Capital Partners, Lp sold 331,339 shares of Green Dot stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $10.54, for a total value of $3,492,313.06. Following the completion of the transaction, the insider now directly owns 5,376,787 shares of the company’s stock, valued at $56,671,334.98. The trade was a 5.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Topline Capital Management, Ll sold 380,611 shares of Green Dot stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $10.44, for a total value of $3,973,578.84. Following the completion of the transaction, the insider now directly owns 5,708,126 shares of the company’s stock, valued at $59,592,835.44. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 959,180 shares of company stock valued at $10,071,696. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Green Dot

Several large investors have recently made changes to their positions in GDOT. Topline Capital Management LLC bought a new position in shares of Green Dot in the fourth quarter worth $57,209,000. Walmart Inc. purchased a new position in shares of Green Dot during the fourth quarter valued at approximately $10,374,000. Prudential Financial Inc. boosted its position in Green Dot by 135.9% in the fourth quarter. Prudential Financial Inc. now owns 660,919 shares of the financial services provider’s stock worth $7,032,000 after purchasing an additional 380,692 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Green Dot by 20.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,114,292 shares of the financial services provider’s stock valued at $22,496,000 after purchasing an additional 363,831 shares during the period. Finally, American Century Companies Inc. increased its stake in Green Dot by 42.5% in the 4th quarter. American Century Companies Inc. now owns 1,041,034 shares of the financial services provider’s stock worth $11,077,000 after acquiring an additional 310,492 shares during the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.

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.