Green Dot (NYSE:GDOT) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Green Dot (NYSE:GDOT) from a hold rating to a sell rating in a research note released on Thursday.

Other research analysts have also issued research reports about the company. Truist Financial raised their price objective on Green Dot from $10.00 to $11.00 and gave the company a buy rating in a report on Thursday, February 29th. Keefe, Bruyette & Woods lowered their price target 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 downgraded shares of Green Dot from a c- rating to a d rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $10.75.

Green Dot Trading Down 1.1 %

Shares of GDOT opened at $9.22 on Thursday. The firm has a market cap of $487.09 million, a P/E ratio of 70.93 and a beta of 1.03. Green Dot has a 12 month low of $7.30 and a 12 month high of $21.37. The stock’s 50 day moving average is $8.71 and its two-hundred day moving average is $9.15.

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

Insiders Place Their Bets

In other news, 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 completion of the sale, the insider now owns 276,595 shares of the company’s stock, valued at approximately $2,259,781.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related 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 sale, the insider now directly owns 276,595 shares in the company, valued at approximately $2,259,781.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Christian Devin Ruppel bought 33,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was bought at an average cost of $9.06 per share, for a total transaction of $298,980.00. Following the transaction, the executive now directly owns 101,715 shares of the company’s stock, valued at $921,537.90. The disclosure for this purchase can be found here. 1.10% of the stock is owned by insiders.

Institutional Trading of Green Dot

Several institutional investors have recently added to or reduced their stakes in GDOT. SG Americas Securities LLC purchased a new stake in shares of Green Dot in the 3rd quarter valued at $363,000. Exchange Traded Concepts LLC acquired a new stake in shares of Green Dot during the third quarter worth about $364,000. Bailard Inc. acquired a new stake in shares of Green Dot during the third quarter worth about $547,000. New York State Teachers Retirement System boosted its stake in shares of Green Dot by 5.5% in the third quarter. New York State Teachers Retirement System now owns 63,115 shares of the financial services provider’s stock valued at $879,000 after purchasing an additional 3,281 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Green Dot by 46.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,191 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 3,539 shares in the last quarter. Institutional investors and hedge funds 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.