Green Dot (NYSE:GDOT) Rating Lowered to Neutral at Guggenheim

Green Dot (NYSE:GDOT) was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating in a report released on Monday, The Fly reports.

A number of other analysts have also weighed in on GDOT. Barclays set a $41.00 target price on shares of Green Dot and gave the company a “buy” rating in a research report on Monday, August 12th. Needham & Company LLC restated a “buy” rating and issued a $30.00 target price on shares of Green Dot in a research report on Friday, November 8th. Zacks Investment Research upgraded shares of Green Dot from a “sell” rating to a “hold” rating and set a $29.00 target price on the stock in a research report on Tuesday, August 13th. TheStreet lowered shares of Green Dot from a “b-” rating to a “c+” rating in a research report on Thursday, August 8th. Finally, SunTrust Banks cut their target price on shares of Green Dot to $40.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $42.83.

Shares of Green Dot stock opened at $25.53 on Monday. Green Dot has a fifty-two week low of $22.45 and a fifty-two week high of $85.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $1.32 billion, a P/E ratio of 10.09 and a beta of 1.11. The company’s 50 day moving average price is $25.43 and its two-hundred day moving average price is $39.13.

Green Dot (NYSE:GDOT) last issued its earnings results on Thursday, November 7th. The financial services provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.32. Green Dot had a net margin of 10.25% and a return on equity of 14.94%. The firm had revenue of $240.40 million for the quarter, compared to analyst estimates of $232.94 million. During the same quarter last year, the business posted $0.59 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. On average, analysts expect that Green Dot will post 2.13 earnings per share for the current year.

In other news, CRO Brett Narlinger sold 5,602 shares of Green Dot stock in a transaction on Friday, September 6th. The shares were sold at an average price of $28.32, for a total transaction of $158,648.64. Following the transaction, the executive now owns 71,624 shares in the company, valued at $2,028,391.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 7.80% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. CWM LLC lifted its holdings in shares of Green Dot by 1,316,671.4% during the second quarter. CWM LLC now owns 92,174 shares of the financial services provider’s stock worth $4,507,000 after purchasing an additional 92,167 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in shares of Green Dot by 204.5% during the second quarter. Cubist Systematic Strategies LLC now owns 67,473 shares of the financial services provider’s stock worth $3,299,000 after purchasing an additional 45,317 shares during the period. Townsquare Capital LLC acquired a new position in shares of Green Dot during the second quarter worth $373,000. Coatue Management LLC acquired a new position in shares of Green Dot during the second quarter worth $61,188,000. Finally, Investment Management of Virginia LLC lifted its holdings in shares of Green Dot by 84.5% during the second quarter. Investment Management of Virginia LLC now owns 54,742 shares of the financial services provider’s stock worth $2,677,000 after purchasing an additional 25,076 shares during the period. Institutional investors own 79.58% of the company’s stock.

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.

Read More: What is included in the gross domestic product?

The Fly

Analyst Recommendations for Green Dot (NYSE:GDOT)

Receive News & Ratings for Green Dot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Green Dot and related companies with MarketBeat.com's FREE daily email newsletter.