StockNews.com Lowers Green Dot (NYSE:GDOT) to Sell

StockNews.com lowered shares of Green Dot (NYSE:GDOT) from a hold rating to a sell rating in a research note released on Tuesday morning.

GDOT has been the subject of several other reports. Keefe, Bruyette & Woods decreased their price objective on shares of Green Dot from $12.50 to $11.00 and set a market perform rating for the company in a research report on Friday, April 5th. Truist Financial raised their price target on shares of Green Dot from $10.00 to $11.00 and gave the stock a buy rating in a report on Thursday, February 29th. Finally, TheStreet cut shares of Green Dot from a c- rating to a d rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Green Dot presently has an average rating of Hold and a consensus price target of $10.75.

Green Dot Stock Up 1.1 %

GDOT opened at $8.51 on Tuesday. Green Dot has a twelve month low of $7.30 and a twelve month high of $21.37. The company has a fifty day moving average of $8.61 and a 200-day moving average of $9.46. The stock has a market cap of $449.58 million, a PE ratio of 65.47 and a beta of 1.04.

Green Dot (NYSE:GDOT) last posted its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Green Dot had a net margin of 0.45% and a return on equity of 6.78%. The company had revenue of $361.72 million during the quarter, compared to analysts’ expectations of $350.14 million. Sell-side analysts anticipate that Green Dot will post 0.9 EPS for the current fiscal year.

Insider Buying and Selling at Green Dot

In other Green Dot news, insider Principal Co Lp Starboard sold 75,729 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $8.58, for a total value of $649,754.82. Following the transaction, the insider now directly owns 270,207 shares of the company’s stock, valued at $2,318,376.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Green Dot news, insider Principal Co Lp Starboard sold 75,729 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $8.58, for a total value of $649,754.82. Following the transaction, the insider now directly owns 270,207 shares of the company’s stock, valued at $2,318,376.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Christian Devin Ruppel acquired 33,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was acquired at an average cost of $9.06 per share, for a total transaction of $298,980.00. Following the completion of the purchase, the executive now directly owns 101,715 shares of the company’s stock, valued at approximately $921,537.90. The disclosure for this purchase can be found here. Insiders own 11.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GDOT. T. Rowe Price Investment Management Inc. lifted its position in shares of Green Dot by 48.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,934,157 shares of the financial services provider’s stock valued at $46,419,000 after purchasing an additional 954,860 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Green Dot by 360.7% during the third quarter. Assenagon Asset Management S.A. now owns 777,929 shares of the financial services provider’s stock valued at $10,837,000 after purchasing an additional 609,084 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Green Dot during the third quarter valued at about $7,869,000. Norges Bank bought a new position in shares of Green Dot during the fourth quarter valued at about $7,820,000. Finally, Federated Hermes Inc. lifted its position in shares of Green Dot by 56.5% during the first quarter. Federated Hermes Inc. now owns 1,241,717 shares of the financial services provider’s stock valued at $34,122,000 after purchasing an additional 448,144 shares in the last quarter. 92.56% of the stock is owned by institutional investors.

About Green Dot

Green Dot Corporation, a financial technology and registered bank holding company, provides various financial services to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services. The company provides deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.