Green Dot (NYSE:GDOT) Rating Lowered to Hold at Zacks Research

Key Points

• Green Dot has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research, amidst varying ratings from other analysts, with an average rating of "Hold" and a target price of $13.50.
• The company's stock price opened at $12.42, showing an increase of 1.9%, while it has a market capitalization of approximately $688 million.
• Insider trading activity noted that Christian Devin Ruppel sold 27,931 shares at an average price of $12.39, decreasing their ownership by 10.97%.

Green Dot (NYSE:GDOT - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

Several other research firms have also recently issued reports on GDOT. Northland Securities set a $18.00 target price on Green Dot in a research report on Wednesday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Green Dot in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods increased their price target on Green Dot from $11.00 to $12.00 and gave the stock a "market perform" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $13.50.

Green Dot Stock Up 1.9%

Shares of NYSE GDOT opened at $12.42 on Thursday. The company has a market capitalization of $687.98 million, a price-to-earnings ratio of -28.23 and a beta of 0.78. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.69 and a quick ratio of 0.69. The business has a 50-day moving average of $13.50 and a two-hundred day moving average of $10.83. Green Dot has a 1 year low of $6.12 and a 1 year high of $15.41.

Green Dot (NYSE:GDOT - Get Free Report) last posted its earnings results on Monday, August 11th. The financial services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.23. Green Dot had a positive return on equity of 9.93% and a negative net margin of 1.24%.The business had revenue of $501.16 million during the quarter, compared to the consensus estimate of $496.49 million. During the same period in the previous year, the business earned $0.25 EPS. The business's quarterly revenue was up 23.9% on a year-over-year basis. Green Dot has set its FY 2025 guidance at 1.280-1.420 EPS. On average, analysts forecast that Green Dot will post 0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Green Dot

In other news, insider Christian Devin Ruppel sold 27,931 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $12.39, for a total transaction of $346,065.09. Following the completion of the sale, the insider directly owned 226,656 shares in the company, valued at $2,808,267.84. This trade represents a 10.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by corporate insiders.

Institutional Trading of Green Dot

Several large investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. grew its stake in shares of Green Dot by 18.6% during the second quarter. Ameritas Investment Partners Inc. now owns 5,478 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 861 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Green Dot by 23.1% during the second quarter. Tower Research Capital LLC TRC now owns 6,504 shares of the financial services provider's stock valued at $70,000 after acquiring an additional 1,221 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Green Dot by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,801 shares of the financial services provider's stock worth $268,000 after purchasing an additional 1,341 shares in the last quarter. MetLife Investment Management LLC grew its stake in Green Dot by 5.1% in the first quarter. MetLife Investment Management LLC now owns 30,396 shares of the financial services provider's stock worth $257,000 after purchasing an additional 1,483 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Green Dot by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,356 shares of the financial services provider's stock worth $155,000 after purchasing an additional 1,843 shares in the last quarter. 92.56% of the stock is currently owned by institutional investors and hedge funds.

Green Dot Company Profile

Green Dot Corporation, a financial technology and registered bank holding company, provides various financial services to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services. The company provides deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.

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