Green Dot (GDOT) Downgraded by ValuEngine to “Hold”
Green Dot (NYSE:GDOT) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report issued on Friday.
A number of other equities research analysts also recently weighed in on GDOT. Cowen reaffirmed a “hold” rating on shares of Green Dot in a research note on Thursday, August 10th. BidaskClub raised Green Dot from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Lake Street Capital raised Green Dot from a “hold” rating to a “buy” rating and raised their price objective for the company from $41.00 to $44.00 in a research note on Wednesday, August 9th. Deutsche Bank raised their price objective on Green Dot from $37.00 to $42.00 and gave the company a “hold” rating in a research note on Wednesday, August 9th. Finally, Northland Securities reissued an “outperform” rating and issued a $55.00 price objective (up from $47.00) on shares of Green Dot in a research note on Tuesday, September 26th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $53.36.
Shares of Green Dot (NYSE:GDOT) opened at $61.27 on Friday. Green Dot has a one year low of $23.39 and a one year high of $65.88. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $3,110.00, a PE ratio of 36.74 and a beta of 0.91.
Green Dot (NYSE:GDOT) last posted its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.14. Green Dot had a return on equity of 12.55% and a net margin of 8.61%. The company had revenue of $201.60 million during the quarter, compared to the consensus estimate of $191.33 million. During the same period last year, the business earned $0.21 EPS. The business’s quarterly revenue was up 30.5% on a year-over-year basis. equities research analysts anticipate that Green Dot will post 1.71 earnings per share for the current fiscal year.
In other Green Dot news, COO Kuan Archer sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $61.67, for a total value of $1,110,060.00. Following the sale, the chief operating officer now owns 106,450 shares of the company’s stock, valued at approximately $6,564,771.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven W. Streit sold 2,665 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $53.91, for a total value of $143,670.15. Following the completion of the sale, the chief executive officer now directly owns 176,621 shares in the company, valued at approximately $9,521,638.11. The disclosure for this sale can be found here. Insiders sold a total of 175,751 shares of company stock worth $9,957,097 over the last three months. 11.00% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Green Dot by 0.7% in the 2nd quarter. BlackRock Inc. now owns 5,348,171 shares of the financial services provider’s stock valued at $206,067,000 after buying an additional 38,814 shares during the last quarter. Boston Advisors LLC acquired a new stake in shares of Green Dot during the 3rd quarter worth approximately $5,157,000. State Street Corp grew its holdings in shares of Green Dot by 5.7% during the 2nd quarter. State Street Corp now owns 1,056,391 shares of the financial services provider’s stock worth $40,704,000 after purchasing an additional 57,343 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Green Dot during the 2nd quarter worth approximately $1,319,000. Finally, Northern Trust Corp grew its holdings in shares of Green Dot by 11.0% during the 2nd quarter. Northern Trust Corp now owns 602,435 shares of the financial services provider’s stock worth $23,212,000 after purchasing an additional 59,905 shares in the last quarter. 79.31% of the stock is currently owned by hedge funds and other institutional investors.
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About Green Dot
Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.
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