Green Dot (NYSE:GDOT) Raised to Hold at Zacks Research

Green Dot (NYSE:GDOT) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Green Dot in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.12.

Green Dot Stock Down 0.7%

GDOT opened at $12.32 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.45 and a current ratio of 0.45. The company has a market capitalization of $701.95 million, a PE ratio of -24.15 and a beta of 0.83. The stock’s fifty day moving average is $13.06 and its 200-day moving average is $12.82. Green Dot has a one year low of $10.10 and a one year high of $13.75.

Green Dot (NYSE:GDOT) last posted its quarterly earnings data on Monday, August 10th. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). The business had revenue of $591.29 million for the quarter, compared to the consensus estimate of $541.16 million. Green Dot had a negative net margin of 1.14% and a positive return on equity of 6.92%. On average, equities analysts predict that Green Dot will post 1.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Green Dot

A number of hedge funds and other institutional investors have recently modified their holdings of GDOT. Engineers Gate Manager LP lifted its stake in Green Dot by 81.3% during the second quarter. Engineers Gate Manager LP now owns 77,256 shares of the financial services provider’s stock valued at $1,044,000 after buying an additional 34,637 shares in the last quarter. Newtyn Management LLC boosted its holdings in shares of Green Dot by 743.7% in the second quarter. Newtyn Management LLC now owns 1,203,203 shares of the financial services provider’s stock worth $16,255,000 after buying an additional 1,060,598 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Green Dot in the second quarter worth about $26,000. Walmart Inc. purchased a new position in shares of Green Dot in the second quarter worth approximately $13,172,000. Finally, Rangeley Capital LLC purchased a new position in shares of Green Dot in the first quarter worth approximately $1,826,000. Institutional investors and hedge funds own 92.56% of the company’s stock.

About Green Dot

Green Dot Corporation is a financial technology and bank holding company that provides digital banking, prepaid debit card, payment processing and money-movement services in the United States. Through its subsidiary, Green Dot Bank, the company offers FDIC-insured banking products and supports consumers who may be underserved by traditional financial institutions.

The company’s products include checking accounts, debit cards, direct-deposit services, cash deposits, bill payment, mobile banking tools and tax-related financial services.