Green Dot (NYSE:GDOT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Green Dot (NYSE:GDOT) from a sell rating to a hold rating in a report issued on Sunday.

A number of other research firms have also weighed in on GDOT. Craig Hallum reaffirmed a “buy” rating and set a $18.00 price objective on shares of Green Dot in a research report on Tuesday, March 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Green Dot in a report on Thursday, January 22nd. Finally, Northland Securities set a $14.25 target price on Green Dot and gave the stock a “market perform” rating in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $13.56.

Green Dot Trading Down 0.9%

NYSE:GDOT opened at $11.17 on Friday. The firm has a market capitalization of $620.42 million, a P/E ratio of -6.27 and a beta of 0.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.52 and a quick ratio of 0.52. Green Dot has a one year low of $6.59 and a one year high of $15.41. The company’s 50-day simple moving average is $11.79 and its 200 day simple moving average is $12.43.

Green Dot (NYSE:GDOT) last announced its earnings results on Monday, March 16th. The financial services provider reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. Green Dot had a negative net margin of 4.75% and a positive return on equity of 6.93%. The business had revenue of $519.72 million during the quarter, compared to the consensus estimate of $508.09 million. As a group, analysts forecast that Green Dot will post 0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Green Dot

Hedge funds have recently added to or reduced their stakes in the company. Steel Partners Holdings L.P. purchased a new stake in Green Dot during the 4th quarter valued at $48,332,000. No Street GP LP increased its holdings in shares of Green Dot by 150.0% in the 3rd quarter. No Street GP LP now owns 4,000,000 shares of the financial services provider’s stock worth $53,720,000 after purchasing an additional 2,400,000 shares in the last quarter. Western Standard LLC raised its stake in shares of Green Dot by 196.8% in the fourth quarter. Western Standard LLC now owns 1,977,500 shares of the financial services provider’s stock worth $25,332,000 after purchasing an additional 1,311,170 shares during the last quarter. CenterBook Partners LP lifted its holdings in shares of Green Dot by 406.7% during the fourth quarter. CenterBook Partners LP now owns 1,233,176 shares of the financial services provider’s stock valued at $15,797,000 after purchasing an additional 989,823 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Green Dot by 403.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,223,123 shares of the financial services provider’s stock valued at $13,185,000 after purchasing an additional 980,012 shares in the last quarter. 92.56% of the stock is currently owned by hedge funds and other institutional investors.

Green Dot Company Profile

Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company that provides prepaid debit cards, cash reload processing services and consumer banking products through its subsidiary, Green Dot Bank. The firm offers reloadable prepaid cards under its own brand and through partnerships with retailers, payments networks and banks. In addition to consumer-focused prepaid card accounts, Green Dot delivers payroll card services, government disbursement programs and B2B payment solutions that enable businesses to distribute funds digitally to end users.

Founded in 1999 by Steve Streit and headquartered in Austin, Texas, Green Dot began as a prepaid MasterCard provider sold through retail outlets.