Green Dot Corporation (GDOT) Downgraded to “Hold” at ValuEngine
Green Dot Corporation (NYSE:GDOT) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Monday.
GDOT has been the topic of several other research reports. SunTrust Banks, Inc. reiterated a “buy” rating on shares of Green Dot Corporation in a research note on Wednesday, September 20th. Northland Securities restated an “outperform” rating and set a $55.00 target price (up from $47.00) on shares of Green Dot Corporation in a research report on Tuesday, September 26th. BidaskClub lowered shares of Green Dot Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 14th. Citigroup Inc. upped their target price on shares of Green Dot Corporation from $48.00 to $54.00 and gave the company a “buy” rating in a report on Monday, September 18th. Finally, Cowen and Company reaffirmed a “hold” rating on shares of Green Dot Corporation in a report on Thursday, August 10th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Green Dot Corporation has a consensus rating of “Buy” and a consensus target price of $43.50.
Shares of Green Dot Corporation (NYSE GDOT) traded up 1.71% during mid-day trading on Monday, hitting $50.43. 480,339 shares of the company were exchanged. The company has a market capitalization of $2.54 billion, a P/E ratio of 42.88 and a beta of 1.00. The company has a 50 day moving average of $47.81 and a 200 day moving average of $39.72. Green Dot Corporation has a 52 week low of $21.45 and a 52 week high of $50.45.
Green Dot Corporation (NYSE:GDOT) last posted its earnings results on Tuesday, August 8th. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The company had revenue of $222.50 million for the quarter, compared to the consensus estimate of $208.59 million. Green Dot Corporation had a return on equity of 12.13% and a net margin of 7.66%. Green Dot Corporation’s revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 earnings per share. Equities analysts anticipate that Green Dot Corporation will post $2.05 earnings per share for the current year.
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In other news, insider Steven W. Streit sold 7,995 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $46.74, for a total value of $373,686.30. Following the completion of the transaction, the insider now owns 217,010 shares of the company’s stock, valued at $10,143,047.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kenneth C. Aldrich sold 10,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $48.28, for a total value of $482,800.00. Following the completion of the transaction, the director now directly owns 20,563 shares of the company’s stock, valued at approximately $992,781.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,156 shares of company stock worth $6,699,117. Insiders own 11.00% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of GDOT. BlackRock Inc. lifted its holdings in Green Dot Corporation by 0.7% in the 2nd quarter. BlackRock Inc. now owns 5,348,171 shares of the financial services provider’s stock worth $206,067,000 after purchasing an additional 38,814 shares in the last quarter. Vanguard Group Inc. boosted its stake in Green Dot Corporation by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 4,091,807 shares of the financial services provider’s stock worth $136,503,000 after purchasing an additional 412,984 shares during the period. Dimensional Fund Advisors LP grew its holdings in Green Dot Corporation by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,753,768 shares of the financial services provider’s stock valued at $91,865,000 after buying an additional 19,113 shares in the last quarter. State Street Corp grew its holdings in Green Dot Corporation by 5.7% during the 2nd quarter. State Street Corp now owns 1,056,391 shares of the financial services provider’s stock valued at $40,704,000 after buying an additional 57,343 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Green Dot Corporation by 57.4% during the 2nd quarter. Renaissance Technologies LLC now owns 821,842 shares of the financial services provider’s stock valued at $31,666,000 after buying an additional 299,842 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors.
Green Dot Corporation Company Profile
Green Dot Corporation (Green Dot) 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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