Green Dot (NYSE:GDOT) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Green Dot Corporation (NYSE:GDOT) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.26 and traded as high as $13.71. Green Dot shares last traded at $13.5030, with a volume of 762,179 shares changing hands.

Analyst Ratings Changes

Several research firms have weighed in on GDOT. Weiss Ratings reissued a “sell (d-)” rating on shares of Green Dot in a research note on Tuesday, April 21st. Craig Hallum reissued a “buy” rating and issued a $18.00 target price on shares of Green Dot in a research note on Tuesday, March 17th. Zacks Research upgraded Green Dot from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Finally, Wall Street Zen upgraded Green Dot from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.75.

Green Dot Stock Down 0.4%

The firm has a market cap of $756.45 million, a PE ratio of -10.11 and a beta of 0.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.50 and a current ratio of 0.50. The company’s 50-day simple moving average is $12.68 and its two-hundred day simple moving average is $12.27.

Green Dot (NYSE:GDOT) last released its quarterly earnings data on Monday, May 11th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.24. The firm had revenue of $652.03 million for the quarter, compared to analysts’ expectations of $597.39 million. Green Dot had a negative net margin of 3.25% and a positive return on equity of 7.56%. On average, analysts predict that Green Dot Corporation will post 1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rangeley Capital LLC bought a new stake in shares of Green Dot in the 1st quarter worth approximately $1,826,000. OMERS ADMINISTRATION Corp raised its holdings in shares of Green Dot by 167.2% during the first quarter. OMERS ADMINISTRATION Corp now owns 330,200 shares of the financial services provider’s stock valued at $3,705,000 after acquiring an additional 206,600 shares in the last quarter. Jacobs Asset Management LLC lifted its stake in Green Dot by 115.2% in the first quarter. Jacobs Asset Management LLC now owns 225,000 shares of the financial services provider’s stock worth $2,524,000 after acquiring an additional 120,464 shares during the period. Entropy Technologies LP purchased a new stake in Green Dot in the first quarter worth $173,000. Finally, Renaissance Technologies LLC boosted its holdings in Green Dot by 167.0% in the first quarter. Renaissance Technologies LLC now owns 61,400 shares of the financial services provider’s stock valued at $689,000 after acquiring an additional 38,400 shares in the last quarter. Institutional investors own 92.56% of the company’s stock.

Green Dot Company Profile

Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company that provides prepaid debit cards, cash reload processing services and consumer banking products through its subsidiary, Green Dot Bank. The firm offers reloadable prepaid cards under its own brand and through partnerships with retailers, payments networks and banks. In addition to consumer-focused prepaid card accounts, Green Dot delivers payroll card services, government disbursement programs and B2B payment solutions that enable businesses to distribute funds digitally to end users.

Founded in 1999 by Steve Streit and headquartered in Austin, Texas, Green Dot began as a prepaid MasterCard provider sold through retail outlets.