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

Shares of Green Dot Corporation (NYSE:GDOT - Get Free Report) were down 4.1% on Wednesday . The stock traded as low as $9.52 and last traded at $9.49. Approximately 317,005 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 655,218 shares. The stock had previously closed at $9.89.

Analysts Set New Price Targets

Several research analysts have weighed in on GDOT shares. Northland Capmk raised Green Dot from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods cut their price objective on Green Dot from $12.00 to $10.00 and set a "market perform" rating on the stock in a research report on Friday, February 28th. Craig Hallum raised Green Dot from a "hold" rating to a "buy" rating and set a $14.00 price objective on the stock in a research report on Friday, March 14th. Wall Street Zen raised Green Dot from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Barclays boosted their price objective on Green Dot from $7.00 to $10.00 and gave the stock an "underweight" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Green Dot has an average rating of "Moderate Buy" and a consensus price target of $11.50.

Green Dot Price Performance

The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $9.07 and a 200 day moving average price of $8.95. The stock has a market cap of $522.61 million, a PE ratio of -73.23 and a beta of 0.73.

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

Insider Buying and Selling

In related news, insider Christian Devin Ruppel sold 10,189 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $11.00, for a total transaction of $112,079.00. Following the sale, the insider now owns 253,139 shares of the company's stock, valued at approximately $2,784,529. This represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by insiders.

Institutional Trading of Green Dot

Institutional investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group lifted its holdings in 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 in the last quarter. Meeder Asset Management Inc. purchased a new stake in Green Dot during the 4th quarter worth about $44,000. GAMMA Investing LLC lifted its holdings in Green Dot by 152.0% during the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the financial services provider's stock worth $48,000 after purchasing an additional 3,416 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Green Dot in the 4th quarter worth about $84,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Green Dot in the 1st quarter worth about $96,000. 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.