Green Dot (NYSE:GDOT) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Green Dot Corporation (NYSE:GDOT - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $8.94 and traded as high as $10.70. Green Dot shares last traded at $10.41, with a volume of 921,300 shares traded.

Analysts Set New Price Targets

Several research firms recently weighed in on GDOT. Barclays lifted their target price on shares of Green Dot from $7.00 to $10.00 and gave the company an "underweight" rating in a report on Monday, May 12th. Northland Capmk upgraded shares of Green Dot from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Green Dot from $11.00 to $12.00 and gave the stock a "market perform" rating in a report on Friday, July 11th. Northland Securities upgraded shares of Green Dot from a "market perform" rating to an "outperform" rating and set a $12.00 price objective on the stock in a report on Wednesday, April 9th. Finally, Wall Street Zen upgraded shares of Green Dot from a "hold" rating to a "buy" rating in a report on Friday, June 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $12.00.

Green Dot Trading Up 1.4%

The firm has a market capitalization of $571.02 million, a P/E ratio of -80.02 and a beta of 0.76. The business's 50-day moving average is $10.15 and its 200 day moving average is $8.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.58 and a quick ratio of 0.58.

Green Dot (NYSE:GDOT - Get Free Report) last posted its earnings results on Thursday, May 8th. The financial services provider reported $1.06 EPS for the quarter, topping the consensus estimate of $0.70 by $0.36. The business had revenue of $555.96 million for the quarter, compared to the consensus estimate of $503.20 million. Green Dot had a negative net margin of 0.31% and a positive return on equity of 8.82%. The firm's revenue was up 23.6% compared to the same quarter last year. During the same period last year, the company earned $0.59 EPS. As a group, analysts anticipate that Green Dot Corporation will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling at Green Dot

In other Green Dot news, insider Christian Devin Ruppel sold 10,189 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $11.00, for a total transaction of $112,079.00. Following the transaction, the insider directly owned 253,139 shares in the company, valued at $2,784,529. This trade represents a 3.87% 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 currently owned by corporate insiders.

Hedge Funds Weigh In On Green Dot

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new position in shares of Green Dot during the fourth quarter valued at $294,000. Swiss National Bank increased its holdings in shares of Green Dot by 2.5% during the fourth quarter. Swiss National Bank now owns 95,100 shares of the financial services provider's stock valued at $1,012,000 after acquiring an additional 2,300 shares in the last quarter. Quantbot Technologies LP increased its holdings in shares of Green Dot by 104.2% during the fourth quarter. Quantbot Technologies LP now owns 62,800 shares of the financial services provider's stock valued at $668,000 after acquiring an additional 32,050 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Green Dot by 42.5% during the fourth quarter. American Century Companies Inc. now owns 1,041,034 shares of the financial services provider's stock valued at $11,077,000 after acquiring an additional 310,492 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of Green Dot during the fourth quarter valued at $217,000. Hedge funds and other institutional investors own 92.56% of the company's stock.

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.