Green Dot (NYSE:GDOT) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Shares of Green Dot Corporation (NYSE:GDOT - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.96 and traded as high as $10.96. Green Dot shares last traded at $10.60, with a volume of 422,593 shares traded.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Barclays boosted their target price on Green Dot from $7.00 to $10.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th. Craig Hallum upgraded Green Dot from a "hold" rating to a "buy" rating and set a $14.00 target price on the stock in a research note on Friday, March 14th. Northland Capmk upgraded Green Dot from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 9th. Wall Street Zen upgraded Green Dot from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Keefe, Bruyette & Woods boosted their target price on Green Dot from $11.00 to $12.00 and gave the stock a "market perform" rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $12.00.

Green Dot Trading Down 0.1%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.58 and a current ratio of 0.58. The company has a 50 day simple moving average of $9.94 and a two-hundred day simple moving average of $8.96. The firm has a market cap of $588.15 million, a PE ratio of -82.42 and a beta of 0.76.

Green Dot (NYSE:GDOT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.36. The business had revenue of $555.96 million during the quarter, compared to analysts' expectations of $503.20 million. Green Dot had a positive return on equity of 8.82% and a negative net margin of 0.31%. The company's revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 EPS. Analysts expect that Green Dot Corporation will post 0.87 EPS for the current fiscal year.

Insider Activity

In other news, insider Christian Devin Ruppel sold 10,189 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $11.00, for a total value of $112,079.00. Following the completion of the transaction, the insider owned 253,139 shares of the company's stock, valued at $2,784,529. The trade was a 3.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Green Dot

A number of large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC acquired a new position in Green Dot in the 2nd quarter worth about $117,000. DLD Asset Management LP acquired a new position in Green Dot in the 1st quarter worth about $549,000. Strs Ohio acquired a new position in Green Dot in the 1st quarter worth about $603,000. Jane Street Group LLC raised its holdings in shares of Green Dot by 235.6% during the first quarter. Jane Street Group LLC now owns 447,546 shares of the financial services provider's stock valued at $3,777,000 after acquiring an additional 314,208 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Green Dot by 7.2% during the first quarter. Empowered Funds LLC now owns 198,919 shares of the financial services provider's stock valued at $1,679,000 after acquiring an additional 13,437 shares during the last quarter. Institutional investors and hedge funds own 92.56% of the company's stock.

About Green Dot

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.