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

Green Dot (NYSE:GDOT) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial increased their price target on shares of Green Dot from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Keefe, Bruyette & Woods dropped their price target on shares of Green Dot from $12.50 to $11.00 and set a “market perform” rating for the company in a research report on Friday, April 5th. Finally, TheStreet cut shares of Green Dot from a “c-” rating to a “d” rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $10.75.

Green Dot Stock Performance

Green Dot stock traded up $0.18 during midday trading on Tuesday, reaching $8.18. 596,001 shares of the stock were exchanged, compared to its average volume of 732,652. The company’s fifty day moving average is $8.61 and its 200-day moving average is $9.51. The firm has a market cap of $431.89 million, a PE ratio of 62.89 and a beta of 1.04. Green Dot has a 52 week low of $7.30 and a 52 week high of $21.37.

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 analysts’ consensus estimates of $0.04. Green Dot had a net margin of 0.45% and a return on equity of 6.78%. The firm had revenue of $361.72 million for the quarter, compared to analyst estimates of $350.14 million. On average, sell-side analysts anticipate that Green Dot will post 0.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Principal Co Lp Starboard sold 150,000 shares of the 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 completion of the transaction, the insider now directly owns 276,595 shares in the company, valued at approximately $2,259,781.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Green Dot news, insider Principal Co Lp Starboard sold 150,000 shares of Green Dot 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 completion of the transaction, the insider now directly owns 276,595 shares of the company’s stock, valued at $2,259,781.15. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 purchased at an average cost of $9.06 per share, with a total value of $298,980.00. Following the completion of the acquisition, the executive now directly owns 101,715 shares of the company’s stock, valued at approximately $921,537.90. The disclosure for this purchase can be found here. 2.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Green Dot by 6.2% during the first quarter. Vanguard Group Inc. now owns 6,009,064 shares of the financial services provider’s stock valued at $165,128,000 after buying an additional 349,720 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Green Dot by 48.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,934,157 shares of the financial services provider’s stock worth $46,419,000 after purchasing an additional 954,860 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Green Dot by 17.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,233,191 shares of the financial services provider’s stock worth $38,364,000 after purchasing an additional 338,542 shares during the period. State Street Corp boosted its position in shares of Green Dot by 3.3% in the second quarter. State Street Corp now owns 2,119,294 shares of the financial services provider’s stock worth $39,716,000 after purchasing an additional 68,660 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Green Dot by 11.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,918,976 shares of the financial services provider’s stock worth $48,185,000 after purchasing an additional 202,042 shares during the period. 92.56% of the stock is owned by hedge funds and other institutional investors.

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.