Green Dot (NYSE:GDOT) Trading Down 5.4% on Analyst Downgrade

Shares of Green Dot Co. (NYSE:GDOT) dropped 5.4% on Tuesday after Needham & Company LLC lowered their price target on the stock from $70.00 to $63.00. Needham & Company LLC currently has a buy rating on the stock. Green Dot traded as low as $46.03 and last traded at $49.80. Approximately 1,699,860 shares were traded during trading, an increase of 176% from the average daily volume of 616,633 shares. The stock had previously closed at $52.63.

GDOT has been the subject of several other reports. Northland Securities lowered Green Dot from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 14th. Zacks Investment Research upgraded Green Dot from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Monday, February 15th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Green Dot from $48.00 to $50.00 and gave the stock a “hold” rating in a report on Thursday, November 5th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $55.08.

In other Green Dot news, insider Jason Bibelheimer sold 951 shares of the business’s stock in a transaction that occurred on Wednesday, December 16th. The shares were sold at an average price of $56.19, for a total value of $53,436.69. Following the completion of the sale, the insider now directly owns 74,870 shares of the company’s stock, valued at $4,206,945.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William I. Jacobs sold 500 shares of Green Dot stock in a transaction on Tuesday, December 15th. The shares were sold at an average price of $54.09, for a total transaction of $27,045.00. Following the completion of the sale, the director now directly owns 65,401 shares of the company’s stock, valued at approximately $3,537,540.09. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 858,669 shares of company stock valued at $45,930,677. 4.80% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vantage Consulting Group Inc bought a new stake in Green Dot during the fourth quarter worth approximately $33,000. SRS Capital Advisors Inc. bought a new position in Green Dot in the 4th quarter worth $56,000. Veriti Management LLC bought a new stake in Green Dot during the fourth quarter valued at about $99,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Green Dot in the third quarter valued at about $106,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Green Dot during the 4th quarter worth about $115,000. Institutional investors own 90.04% of the company’s stock.

The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 52.36 and a beta of 0.95. The stock has a fifty day simple moving average of $54.77 and a 200-day simple moving average of $54.78.

Green Dot (NYSE:GDOT) last announced its earnings results on Sunday, February 21st. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.13. Green Dot had a net margin of 4.01% and a return on equity of 7.73%. The business had revenue of $284.28 million for the quarter, compared to analyst estimates of $257.32 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Green Dot’s revenue was up 14.0% compared to the same quarter last year. Sell-side analysts predict that Green Dot Co. will post 1.32 earnings per share for the current year.

Green Dot Company Profile (NYSE:GDOT)

Green Dot Corporation operates as a financial technology and bank holding company in the United States. It operates in two segments, Account Services, and Processing and Settlement Services. The company offers deposit account programs, such network-branded reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer and small business checking accounts, network-branded gift cards, secured credit cards, payroll debit cards, and other financial services.

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