StockNews.com Downgrades Green Dot (NYSE:GDOT) to Sell

StockNews.com cut shares of Green Dot (NYSE:GDOT) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

Several other analysts also recently commented on the stock. Truist Financial raised their price objective on shares of Green Dot from $10.00 to $11.00 and gave the stock a buy rating in a research report on Thursday, February 29th. TheStreet downgraded shares of Green Dot from a c- rating to a d rating in a research note on Thursday, February 1st. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Green Dot from $12.50 to $11.00 and set a market perform rating on the stock in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Green Dot currently has a consensus rating of Hold and a consensus target price of $10.75.

Green Dot Trading Up 2.2 %

Shares of GDOT stock opened at $8.18 on Tuesday. Green Dot has a 1-year low of $7.30 and a 1-year high of $21.37. The stock has a market cap of $431.89 million, a price-to-earnings ratio of 62.89 and a beta of 1.04. The stock has a 50-day moving average of $8.61 and a 200-day moving average of $9.51.

Green Dot (NYSE:GDOT) last released its earnings results on Tuesday, February 27th. The financial services provider reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $361.72 million during the quarter, compared to the consensus estimate of $350.14 million. Green Dot had a net margin of 0.45% and a return on equity of 6.78%. Sell-side analysts forecast that Green Dot will post 0.88 earnings per share for the current year.

Insider Activity at Green Dot

In related news, insider Principal Co Lp Starboard sold 150,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $8.17, for a total value of $1,225,500.00. Following the completion of the sale, the insider now directly owns 276,595 shares of the company’s stock, valued at approximately $2,259,781.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Green Dot news, CRO Christian Devin Ruppel bought 33,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were purchased at an average price of $9.06 per share, for a total transaction of $298,980.00. Following the purchase, the executive now directly owns 101,715 shares of the company’s stock, valued at $921,537.90. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Principal Co Lp Starboard sold 150,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $8.17, for a total value of $1,225,500.00. Following the sale, the insider now directly owns 276,595 shares of the company’s stock, valued at $2,259,781.15. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. DGS Capital Management LLC bought a new stake in shares of Green Dot during the 1st quarter worth $139,000. Quadrature Capital Ltd raised its position in Green Dot by 111.7% in the fourth quarter. Quadrature Capital Ltd now owns 62,681 shares of the financial services provider’s stock worth $621,000 after acquiring an additional 33,068 shares during the period. Goldman Sachs Group Inc. boosted its stake in Green Dot by 60.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 237,123 shares of the financial services provider’s stock valued at $2,348,000 after acquiring an additional 88,907 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Green Dot by 17.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,984 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 6,362 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Green Dot during the 4th quarter worth approximately $330,000. Institutional investors own 92.56% of the company’s stock.

About Green Dot

Green Dot Corporation, a financial technology and registered bank holding company, provides various financial services to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services. The company provides deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.