Green Dot (NYSE:GDOT) Upgraded to Hold by StockNews.com

Green Dot (NYSE:GDOT) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other research firms also recently issued reports on GDOT. Truist Financial boosted their price objective on shares of Green Dot from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Keefe, Bruyette & Woods decreased their target price 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. Finally, TheStreet lowered shares of Green Dot from a “c-” rating to a “d” rating in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.75.

Green Dot Stock Performance

NYSE:GDOT opened at $8.88 on Wednesday. The firm’s 50-day moving average is $8.60 and its 200-day moving average is $9.38. Green Dot has a 52-week low of $7.30 and a 52-week high of $21.37. The company has a market cap of $469.13 million, a price-to-earnings ratio of 68.31 and a beta of 1.04.

Green Dot (NYSE:GDOT) last posted its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Green Dot had a net margin of 0.45% and a return on equity of 6.78%. The company had revenue of $361.72 million for the quarter, compared to the consensus estimate of $350.14 million. Equities analysts predict that Green Dot will post 0.9 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On Green Dot

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GDOT. Meeder Asset Management Inc. acquired a new position in shares of Green Dot during the fourth quarter worth approximately $53,000. Allspring Global Investments Holdings LLC lifted its position in shares of Green Dot by 39.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 7,352 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 2,074 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Green Dot by 65.5% during the third quarter. PNC Financial Services Group Inc. now owns 6,152 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 2,434 shares in the last quarter. Olympiad Research LP acquired a new position in shares of Green Dot during the fourth quarter worth approximately $119,000. Finally, Journey Strategic Wealth LLC bought a new stake in shares of Green Dot during the fourth quarter worth approximately $128,000. 92.56% of the stock is currently owned by institutional investors and hedge funds.

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.