Green Dot Corporation (NYSE:GDOT) Receives Consensus Rating of "Reduce" from Brokerages

Key Points

• Broker consensus: Seven analysts give Green Dot a consensus rating of "Reduce" (2 sell, 4 hold, 1 buy) with an average 12‑month price target of about $13.56.
• Recent results showed a beat: Green Dot reported Q EPS of ($0.08) versus ($0.12) expected and revenue of $519.7M versus $508.1M, while the stock trades near $12.13 with a 12‑month range of $8.05–$15.41 and a market cap of about $674M.
• Institutional interest is high, with roughly 92.56% of shares owned by institutions and several funds markedly increasing positions in the most recent quarter.

Shares of Green Dot Corporation (NYSE:GDOT - Get Free Report) have received an average rating of "Reduce" from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $13.5625.

GDOT has been the subject of several analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Green Dot in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Green Dot from a "sell" rating to a "hold" rating in a research note on Sunday, March 22nd. Finally, Craig Hallum reiterated a "buy" rating and issued a $18.00 target price on shares of Green Dot in a research note on Tuesday, March 17th.

Green Dot Stock Performance

Shares of NYSE GDOT opened at $12.13 on Tuesday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.07. Green Dot has a 12 month low of $8.05 and a 12 month high of $15.41. The company has a 50 day simple moving average of $11.56 and a two-hundred day simple moving average of $12.06. The stock has a market cap of $673.79 million, a price-to-earnings ratio of -6.81 and a beta of 0.81.

Green Dot (NYSE:GDOT - Get Free Report) last announced its quarterly earnings data on Monday, March 16th. The financial services provider reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.04. Green Dot had a negative net margin of 4.75% and a positive return on equity of 6.93%. The business had revenue of $519.72 million during the quarter, compared to analysts' expectations of $508.09 million. As a group, analysts predict that Green Dot will post 1.09 earnings per share for the current year.

Hedge Funds Weigh In On Green Dot

Large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Green Dot by 785.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 212,044 shares of the financial services provider's stock valued at $2,848,000 after purchasing an additional 188,093 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Green Dot in the 3rd quarter valued at $1,196,000. Counterpoint Mutual Funds LLC lifted its stake in shares of Green Dot by 415.5% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 197,653 shares of the financial services provider's stock valued at $2,654,000 after purchasing an additional 159,308 shares during the period. Western Standard LLC lifted its stake in shares of Green Dot by 14.8% in the 3rd quarter. Western Standard LLC now owns 666,330 shares of the financial services provider's stock valued at $8,949,000 after purchasing an additional 85,945 shares during the period. Finally, Acuitas Investments LLC acquired a new position in shares of Green Dot in the 3rd quarter valued at $5,587,000. 92.56% of the stock is currently owned by institutional investors and hedge funds.

About Green Dot

Green Dot Corporation NYSE: GDOT is a financial technology and bank holding company that provides prepaid debit cards, cash reload processing services and consumer banking products through its subsidiary, Green Dot Bank. The firm offers reloadable prepaid cards under its own brand and through partnerships with retailers, payments networks and banks. In addition to consumer-focused prepaid card accounts, Green Dot delivers payroll card services, government disbursement programs and B2B payment solutions that enable businesses to distribute funds digitally to end users.

Founded in 1999 by Steve Streit and headquartered in Austin, Texas, Green Dot began as a prepaid MasterCard provider sold through retail outlets.

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