Green Dot (NYSE:GDOT) Shares Down 4.1% - Here's Why

Green Dot Corporation (NYSE:GDOT - Get Free Report)'s share price fell 4.1% on Wednesday . The company traded as low as $9.52 and last traded at $9.49. 317,005 shares changed hands during trading, a decline of 52% from the average session volume of 655,218 shares. The stock had previously closed at $9.89.

Analyst Ratings Changes

Several research firms recently issued reports on GDOT. Craig Hallum raised shares of Green Dot from a "hold" rating to a "buy" rating and set a $14.00 price objective for the company in a research note on Friday, March 14th. Barclays increased their price objective on 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 Green Dot from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 9th. Northland Securities upgraded Green Dot from a "market perform" rating to an "outperform" rating and set a $12.00 price target on the stock in a report on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Green Dot from $12.00 to $10.00 and set a "market perform" rating for the company in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.50.

Green Dot Trading Down 4.0%

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 stock has a market cap of $521.13 million, a P/E ratio of -73.03 and a beta of 0.73. The company has a 50-day simple moving average of $8.95 and a 200-day simple moving average of $8.96.

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

Insider Activity

In related news, insider Christian Devin Ruppel sold 10,189 shares of the business's 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 completion of the transaction, the insider now owns 253,139 shares in the company, valued at approximately $2,784,529. The trade was a 3.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Green Dot

A number of hedge funds and other institutional investors have recently bought and sold shares of GDOT. Brooklyn Investment Group increased its stake in shares of Green Dot by 350,400.0% during the 1st quarter. Brooklyn Investment Group now owns 3,505 shares of the financial services provider's stock worth $30,000 after purchasing an additional 3,504 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Green Dot in the fourth quarter valued at approximately $44,000. GAMMA Investing LLC lifted its position in shares of Green Dot by 152.0% in the first quarter. GAMMA Investing LLC now owns 5,663 shares of the financial services provider's stock valued at $48,000 after buying an additional 3,416 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Green Dot during the 4th quarter worth approximately $84,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Green Dot during the 1st quarter worth approximately $96,000. 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.

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