Green Dot Corporation (NYSE:GDOT) was downgraded by Lake Street Capital from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
Several other research firms have also recently weighed in on GDOT. Zacks Investment Research raised shares of Green Dot Corporation from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective for the company in a report on Monday, August 14th. Craig Hallum initiated coverage on shares of Green Dot Corporation in a report on Thursday, October 5th. They set a “buy” rating and a $70.00 target price for the company. ValuEngine raised shares of Green Dot Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub raised shares of Green Dot Corporation from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of Green Dot Corporation in a report on Wednesday, September 20th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Green Dot Corporation presently has a consensus rating of “Buy” and an average price target of $45.91.
Green Dot Corporation (NYSE GDOT) opened at 54.71 on Wednesday. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 46.52 and a beta of 1.00. The firm has a 50-day moving average price of $48.90 and a 200-day moving average price of $40.60. Green Dot Corporation has a 12 month low of $21.45 and a 12 month high of $55.57.
Green Dot Corporation (NYSE:GDOT) last issued its earnings results on Tuesday, August 8th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.16. The firm had revenue of $222.50 million for the quarter, compared to the consensus estimate of $208.59 million. Green Dot Corporation had a net margin of 7.66% and a return on equity of 12.13%. The business’s revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. On average, equities analysts anticipate that Green Dot Corporation will post $2.05 earnings per share for the current fiscal year.
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In related news, General Counsel John C. Ricci sold 20,707 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $47.21, for a total transaction of $977,577.47. Following the completion of the transaction, the general counsel now owns 91,163 shares in the company, valued at $4,303,805.23. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kenneth C. Aldrich sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $39.90, for a total transaction of $399,000.00. Following the transaction, the director now owns 20,142 shares of the company’s stock, valued at approximately $803,665.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,297 shares of company stock valued at $7,127,934. 11.00% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Piedmont Investment Advisors LLC bought a new position in Green Dot Corporation during the second quarter valued at $365,000. Ameritas Investment Partners Inc. lifted its position in Green Dot Corporation by 13.3% during the second quarter. Ameritas Investment Partners Inc. now owns 4,013 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 472 shares during the last quarter. Castleark Management LLC lifted its position in Green Dot Corporation by 34.7% during the second quarter. Castleark Management LLC now owns 494,144 shares of the financial services provider’s stock valued at $19,039,000 after purchasing an additional 127,199 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Green Dot Corporation by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,322 shares of the financial services provider’s stock worth $1,361,000 after acquiring an additional 2,424 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Green Dot Corporation in the 2nd quarter worth about $212,000. Institutional investors and hedge funds own 77.43% of the company’s stock.
Green Dot Corporation Company Profile
Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.
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