Green Dot (NYSE:GDOT) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Green Dot (NYSE:GDOT) from a "hold" to a "sell" rating in a report issued Saturday.
• Analyst consensus is negative—four Hold and two Sell ratings, an average rating of "Reduce" and a consensus price target of $12.08.
• Shares opened at $10.54 and were down about 6.2%; the company has a market cap of $583.9M and institutional investors (owning 92.56%) including Steel Partners and No Street GP recently added large positions.

Green Dot (NYSE:GDOT - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

A number of other analysts also recently issued reports on the company. Northland Securities set a $14.25 target price on Green Dot and gave the stock a "market perform" rating in a research report on Tuesday, November 25th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Green Dot in a research note on Thursday, January 22nd. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Green Dot currently has an average rating of "Reduce" and a consensus price target of $12.08.

Green Dot Stock Down 6.2%

Green Dot stock opened at $10.54 on Friday. The firm has a 50 day moving average price of $12.00 and a 200-day moving average price of $12.58. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.07. Green Dot has a twelve month low of $6.59 and a twelve month high of $15.41. The company has a market capitalization of $583.85 million, a P/E ratio of -12.39 and a beta of 0.82.

Institutional Investors Weigh In On Green Dot

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Steel Partners Holdings L.P. bought a new position in shares of Green Dot in the fourth quarter worth $48,332,000. No Street GP LP raised its stake in shares of Green Dot by 150.0% during the 3rd quarter. No Street GP LP now owns 4,000,000 shares of the financial services provider's stock valued at $53,720,000 after purchasing an additional 2,400,000 shares during the period. Western Standard LLC raised its stake in shares of Green Dot by 196.8% during the 4th quarter. Western Standard LLC now owns 1,977,500 shares of the financial services provider's stock valued at $25,332,000 after purchasing an additional 1,311,170 shares during the period. CenterBook Partners LP lifted its holdings in Green Dot by 406.7% during the 4th quarter. CenterBook Partners LP now owns 1,233,176 shares of the financial services provider's stock worth $15,797,000 after purchasing an additional 989,823 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Green Dot by 403.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,223,123 shares of the financial services provider's stock worth $13,185,000 after purchasing an additional 980,012 shares during the period. Institutional investors own 92.56% of the company's stock.

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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