Green Dot Corporation (GDOT) Lifted to “Strong-Buy” at BidaskClub
BidaskClub upgraded shares of Green Dot Corporation (NYSE:GDOT) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday.
GDOT has been the topic of a number of other reports. Craig Hallum initiated coverage on shares of Green Dot Corporation in a report on Thursday, October 5th. They issued a buy rating and a $70.00 price target on the stock. ValuEngine cut shares of Green Dot Corporation from a buy rating to a hold rating in a report on Monday, October 2nd. SunTrust Banks, Inc. restated a buy rating on shares of Green Dot Corporation in a report on Wednesday, September 20th. Northland Securities restated an outperform rating and issued a $55.00 price target (up from $47.00) on shares of Green Dot Corporation in a report on Tuesday, September 26th. Finally, Citigroup Inc. upped their price target on shares of Green Dot Corporation from $48.00 to $54.00 and gave the stock a buy rating in a report on Monday, September 18th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $47.91.
Green Dot Corporation (NYSE:GDOT) last announced its earnings results on Tuesday, August 8th. The financial services provider reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.16. Green Dot Corporation had a net margin of 7.66% and a return on equity of 12.13%. The business had revenue of $222.50 million for the quarter, compared to the consensus estimate of $208.59 million. During the same quarter in the prior year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was up 28.2% on a year-over-year basis.
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In other news, Director Kenneth C. Aldrich sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $39.90, for a total value of $399,000.00. Following the sale, the director now directly owns 20,142 shares in the company, valued at approximately $803,665.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Kuan Archer sold 12,356 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $40.22, for a total transaction of $496,958.32. Following the completion of the sale, the chief operating officer now owns 117,024 shares in the company, valued at $4,706,705.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,192 shares of company stock worth $7,157,243. 11.00% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in GDOT. Swiss National Bank boosted its holdings in shares of Green Dot Corporation by 4.5% in the 1st quarter. Swiss National Bank now owns 74,400 shares of the financial services provider’s stock valued at $2,482,000 after buying an additional 3,200 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of Green Dot Corporation by 34.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 19,975 shares of the financial services provider’s stock valued at $666,000 after buying an additional 5,076 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of Green Dot Corporation in the 1st quarter valued at about $706,000. Ameritas Investment Partners Inc. bought a new stake in shares of Green Dot Corporation in the 1st quarter valued at about $118,000. Finally, Mason Street Advisors LLC boosted its holdings in shares of Green Dot Corporation by 8.0% in the 1st quarter. Mason Street Advisors LLC now owns 10,422 shares of the financial services provider’s stock valued at $348,000 after buying an additional 770 shares in the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.
About Green Dot Corporation
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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