Green Dot Corporation (NYSE:GDOT) Receives Consensus Recommendation of “Reduce” from Brokerages

Green Dot Corporation (NYSE:GDOT) has been assigned a consensus rating of “Reduce” from the five ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $16.12.

Several research firms have recently issued reports on GDOT. Zacks Research lowered shares of Green Dot from a “hold” rating to a “strong sell” rating in a research report on Friday, August 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Green Dot in a research note on Friday, July 17th.

Green Dot Trading Up 0.0%

GDOT stock opened at $12.31 on Friday. The company has a market cap of $701.83 million, a price-to-earnings ratio of -24.15 and a beta of 0.82. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $13.23 and a 200-day simple moving average of $12.71. Green Dot has a 52 week low of $10.10 and a 52 week high of $14.22.

Green Dot (NYSE:GDOT) last issued its earnings results on Monday, August 10th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). Green Dot had a negative net margin of 1.14% and a positive return on equity of 6.92%. The firm had revenue of $591.29 million during the quarter, compared to analyst estimates of $541.16 million. On average, equities research analysts expect that Green Dot will post 1.32 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jacobs Asset Management LLC boosted its position in Green Dot by 115.2% during the 1st quarter. Jacobs Asset Management LLC now owns 225,000 shares of the financial services provider’s stock valued at $2,524,000 after purchasing an additional 120,464 shares during the period. Walmart Inc. acquired a new stake in Green Dot in the second quarter worth about $13,172,000. OMERS ADMINISTRATION Corp grew its position in Green Dot by 167.2% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 330,200 shares of the financial services provider’s stock valued at $3,705,000 after buying an additional 206,600 shares in the last quarter. CenterBook Partners LP grew its position in Green Dot by 406.7% in the 4th quarter. CenterBook Partners LP now owns 1,233,176 shares of the financial services provider’s stock valued at $15,797,000 after buying an additional 989,823 shares in the last quarter. Finally, Rangeley Capital LLC acquired a new position in Green Dot during the 1st quarter valued at about $1,826,000. 92.56% of the stock is owned by institutional investors and hedge funds.

Green Dot Company Profile

Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company that provides digital banking, payment and financial services to consumers and businesses in the United States. Through its subsidiaries, including Green Dot Bank, the company offers checking and savings accounts, prepaid debit cards, mobile banking tools, direct deposit services and money-transfer products.

Green Dot markets products under its own brands, including GO2bank, and provides program management and banking services for business partners.