Green Dot (NYSE:GDOT) Announces Earnings Results

Green Dot (NYSE:GDOT) posted its earnings results on Monday. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.24, FiscalAI reports. Green Dot had a negative net margin of 4.75% and a positive return on equity of 6.93%. The firm had revenue of $652.03 million during the quarter, compared to analyst estimates of $597.39 million.

Green Dot Trading Down 1.5%

Shares of GDOT traded down $0.19 during midday trading on Monday, hitting $12.43. The stock had a trading volume of 444,216 shares, compared to its average volume of 607,002. Green Dot has a fifty-two week low of $8.95 and a fifty-two week high of $15.41. The business has a 50-day simple moving average of $11.63 and a two-hundred day simple moving average of $12.07. The firm has a market cap of $690.51 million, a P/E ratio of -6.98 and a beta of 0.86. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.07.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GDOT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Green Dot by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,801 shares of the financial services provider’s stock worth $268,000 after buying an additional 1,341 shares during the period. Caxton Associates LLP acquired a new position in shares of Green Dot in the first quarter worth about $96,000. Empowered Funds LLC boosted its holdings in shares of Green Dot by 7.2% in the first quarter. Empowered Funds LLC now owns 198,919 shares of the financial services provider’s stock worth $1,679,000 after buying an additional 13,437 shares during the period. Jane Street Group LLC boosted its holdings in shares of Green Dot by 235.6% in the first quarter. Jane Street Group LLC now owns 447,546 shares of the financial services provider’s stock worth $3,777,000 after buying an additional 314,208 shares during the period. Finally, Creative Planning purchased a new stake in shares of Green Dot in the second quarter worth approximately $287,000. 92.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GDOT. Wall Street Zen upgraded shares of Green Dot from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Green Dot in a report on Tuesday, April 21st. Finally, Craig Hallum reiterated a “buy” rating and issued a $18.00 price objective on shares of Green Dot in a report on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $13.56.

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.