Green Dot (NYSE:GDOT) Downgraded to “Hold” Rating by Zacks Research

Green Dot (NYSE:GDOT) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Green Dot in a research note on Tuesday, April 21st. Craig Hallum restated a “buy” rating and issued a $18.00 target price on shares of Green Dot in a report on Tuesday, March 17th. Finally, Wall Street Zen raised Green Dot from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $16.12.

Green Dot Stock Performance

NYSE GDOT opened at $13.35 on Monday. The company has a market cap of $756.51 million, a P/E ratio of -10.11 and a beta of 0.83. The company has a fifty day simple moving average of $12.97 and a 200 day simple moving average of $12.29. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.07. Green Dot has a 12-month low of $9.31 and a 12-month high of $15.41.

Green Dot (NYSE:GDOT) last released its quarterly earnings data on Monday, May 11th. The financial services provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.24. The firm had revenue of $652.03 million for the quarter, compared to analyst estimates of $597.39 million. Green Dot had a negative net margin of 3.25% and a positive return on equity of 7.56%. Sell-side analysts predict that Green Dot will post 1.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Green Dot

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steel Partners Holdings L.P. purchased a new position in Green Dot in the fourth quarter worth $48,332,000. No Street GP LP increased its position in shares of Green Dot by 150.0% during the 3rd quarter. No Street GP LP now owns 4,000,000 shares of the financial services provider’s stock valued at $53,720,000 after purchasing an additional 2,400,000 shares during the last quarter. Western Standard LLC increased its position in shares of Green Dot by 196.8% during the 4th quarter. Western Standard LLC now owns 1,977,500 shares of the financial services provider’s stock valued at $25,332,000 after purchasing an additional 1,311,170 shares during the last quarter. CenterBook Partners LP raised its stake in shares of Green Dot by 406.7% during the 4th quarter. CenterBook Partners LP now owns 1,233,176 shares of the financial services provider’s stock worth $15,797,000 after purchasing an additional 989,823 shares during the period. Finally, Oberweis Asset Management Inc. bought a new stake in shares of Green Dot during the 3rd quarter worth $13,031,000. Hedge funds and other institutional investors own 92.56% of the company’s stock.

About Green Dot

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.