Green Dot (NYSE:GDOT) Cut to “Sell” at ValuEngine

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.

Green Dot (NYSE:GDOT) last posted its quarterly earnings data on Thursday, November 7th. The financial services provider reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.32. Green Dot had a return on equity of 16.77% and a net margin of 10.81%. The firm had revenue of $240.40 million during the quarter, compared to analyst estimates of $232.94 million. During the same period last year, the company posted $0.59 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities analysts anticipate that Green Dot will post 2.18 earnings per share for the current year.

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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Analyst Recommendations for Green Dot (NYSE:GDOT)

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