Green Dot (NYSE:GDOT) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, ValuEngine reports.
Several other research firms have also weighed in on GDOT. SunTrust Banks lowered their price objective on Green Dot to $40.00 and set a “buy” rating for the company in a research report on Friday. Zacks Investment Research raised Green Dot from a “sell” rating to a “hold” rating and set a $29.00 price objective for the company in a research report on Tuesday, August 13th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price objective on shares of Green Dot in a research report on Friday. Canaccord Genuity started coverage on Green Dot in a research report on Thursday, September 12th. They issued a “hold” rating and a $29.00 price objective for the company. Finally, Northland Securities reaffirmed a “buy” rating and issued a $35.00 target price on shares of Green Dot in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Green Dot currently has a consensus rating of “Hold” and a consensus price target of $47.62.
Shares of GDOT stock traded down $5.41 during mid-day trading on Friday, hitting $24.54. The company’s stock had a trading volume of 3,353,257 shares, compared to its average volume of 791,148. The company’s fifty day simple moving average is $25.66 and its 200-day simple moving average is $40.05. Green Dot has a 52 week low of $22.45 and a 52 week high of $92.87. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $1.52 billion, a PE ratio of 9.70 and a beta of 1.11.
In related news, CRO Brett Narlinger sold 5,602 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $28.32, for a total value of $158,648.64. Following the completion of the sale, the executive now directly owns 71,624 shares of the company’s stock, valued at approximately $2,028,391.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Retirement Systems of Alabama increased its holdings in Green Dot by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 62,223 shares of the financial services provider’s stock worth $3,043,000 after purchasing an additional 226 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in Green Dot by 38.1% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,346 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 371 shares in the last quarter. Profund Advisors LLC increased its holdings in Green Dot by 9.3% during the 2nd quarter. Profund Advisors LLC now owns 6,077 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 515 shares in the last quarter. Arizona State Retirement System increased its holdings in Green Dot by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 34,720 shares of the financial services provider’s stock worth $1,698,000 after purchasing an additional 522 shares in the last quarter. Finally, Pitcairn Co. increased its holdings in Green Dot by 10.0% during the 2nd quarter. Pitcairn Co. now owns 6,558 shares of the financial services provider’s stock worth $321,000 after purchasing an additional 595 shares in the last quarter. 85.02% of the stock is owned by institutional investors and hedge funds.
About Green Dot
Green Dot Corporation operates as a financial technology and bank holding company in the United States. It operates in two segments, Account Services, and Processing and Settlement Services. The company offers deposit account programs, such network-branded reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer and small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.
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