Green Dot (NYSE:GDOT) Posts Earnings Results, Beats Expectations By $0.04 EPS

Green Dot (NYSE:GDOT) posted its quarterly earnings data on Monday. The financial services provider reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.04, FiscalAI reports. Green Dot had a negative net margin of 4.75% and a positive return on equity of 6.86%. The company had revenue of $519.72 million during the quarter, compared to analyst estimates of $508.09 million.

Green Dot Stock Up 6.6%

NYSE:GDOT opened at $11.35 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.07. Green Dot has a 12-month low of $6.59 and a 12-month high of $15.41. The stock’s fifty day simple moving average is $11.93 and its 200-day simple moving average is $12.53. The firm has a market capitalization of $629.02 million, a P/E ratio of -6.38 and a beta of 0.82.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GDOT shares. Craig Hallum reiterated a “buy” rating and set a $18.00 price target on shares of Green Dot in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Green Dot in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of Green Dot from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Northland Securities set a $14.25 target price on shares of Green Dot and gave the stock a “market perform” rating in a research report on Tuesday, November 25th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $13.56.

Hedge Funds Weigh In On Green Dot

Several hedge funds have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV grew its position in shares of Green Dot by 9.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 37,434 shares of the financial services provider’s stock worth $480,000 after buying an additional 3,123 shares during the period. XTX Topco Ltd raised its position in shares of Green Dot by 10.6% in the 4th quarter. XTX Topco Ltd now owns 81,558 shares of the financial services provider’s stock valued at $1,045,000 after acquiring an additional 7,817 shares during the period. VARCOV Co. acquired a new stake in shares of Green Dot in the 4th quarter valued at approximately $258,000. Tudor Investment Corp ET AL boosted its stake in Green Dot by 89.3% during the 4th quarter. Tudor Investment Corp ET AL now owns 146,538 shares of the financial services provider’s stock worth $1,877,000 after acquiring an additional 69,117 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in Green Dot during the 4th quarter worth approximately $66,000. Institutional investors and hedge funds own 92.56% of the company’s stock.

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.