Green Dot Corp. (GDOT) Stock Rating Lowered by Zacks Investment Research
Green Dot Corp. (NYSE:GDOT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.
According to Zacks, “Green Dot Corporation is a technology-centric, pro-consumer Bank Holding Company with a mission to reinvent personal banking for the masses. The company is the largest provider of prepaid debit card products and prepaid card reloading services in the United States, as well as a leader in mobile banking with its GoBank mobile bank account offering. Green Dot Corporation products are available to consumers at more than 80,000 retailers nationwide, online and via the leading app stores. The company is headquartered in Pasadena, California with its bank subsidiary, Green Dot Bank, located in Provo, Utah. “
Other equities analysts have also recently issued research reports about the company. Morgan Stanley set a $23.00 target price on Green Dot Corp. and gave the company a “hold” rating in a research note on Friday, August 5th. Keefe, Bruyette & Woods boosted their price target on Green Dot Corp. from $23.00 to $26.00 and gave the company a “market perform” rating in a research note on Monday, August 8th. BTIG Research reissued a “hold” rating on shares of Green Dot Corp. in a research note on Friday, August 5th. TheStreet cut Green Dot Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Finally, Jefferies Group reissued a “buy” rating and issued a $28.00 price target on shares of Green Dot Corp. in a research note on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $24.80.
Shares of Green Dot Corp. (NYSE:GDOT) opened at 23.61 on Monday. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 33.25 and a beta of 1.05. The stock’s 50 day moving average is $22.61 and its 200-day moving average is $22.92. Green Dot Corp. has a 1-year low of $15.28 and a 1-year high of $24.41.
Green Dot Corp. (NYSE:GDOT) last released its earnings results on Wednesday, November 9th. The financial services provider reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.04. Green Dot Corp. had a return on equity of 7.76% and a net margin of 5.22%. The company had revenue of $154.60 million for the quarter, compared to analysts’ expectations of $151.72 million. During the same quarter in the previous year, the business posted $0.15 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts anticipate that Green Dot Corp. will post $1.43 EPS for the current year.
In other news, CFO Mark L. Shifke sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 12th. The stock was sold at an average price of $22.77, for a total transaction of $113,850.00. Following the completion of the transaction, the chief financial officer now directly owns 809,845 shares in the company, valued at $18,440,170.65. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel John C. Ricci sold 16,582 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $23.24, for a total value of $385,365.68. Following the transaction, the general counsel now owns 153,103 shares of the company’s stock, valued at $3,558,113.72. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. O Shaughnessy Asset Management LLC raised its position in shares of Green Dot Corp. by 305.4% in the second quarter. O Shaughnessy Asset Management LLC now owns 4,646 shares of the financial services provider’s stock worth $107,000 after buying an additional 3,500 shares during the period. Teacher Retirement System of Texas raised its position in shares of Green Dot Corp. by 33.1% in the second quarter. Teacher Retirement System of Texas now owns 6,435 shares of the financial services provider’s stock worth $148,000 after buying an additional 1,599 shares during the last quarter. Smith Asset Management Group LP purchased a new position in shares of Green Dot Corp. during the third quarter worth approximately $175,000. Penserra Capital Management LLC raised its position in shares of Green Dot Corp. by 20.1% in the second quarter. Penserra Capital Management LLC now owns 8,192 shares of the financial services provider’s stock worth $188,000 after buying an additional 1,371 shares during the last quarter. Finally, Mason Street Advisors LLC purchased a new position in shares of Green Dot Corp. during the second quarter worth approximately $194,000. Institutional investors own 78.38% of the company’s stock.
About Green Dot Corp.
Green Dot Corporation, along with its subsidiaries, is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.
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