Green Dot (NYSE:GDOT) Shares Down 4.7% - Here's Why

Key Points

• Green Dot Corporation's shares fell by 4.7% during trading, with approximately 340,228 shares changing hands, significantly below the usual daily volume.
• Analysts have set a consensus price target of $13.00 for Green Dot, with ratings ranging from "underweight" to "strong buy" following various upgrades by firms like Barclays and Wall Street Zen.
• The company's financial performance was strong, reporting $0.40 earnings per share for the last quarter, exceeding expectations, while revenue increased by 23.9% year-over-year.

Green Dot Corporation (NYSE:GDOT - Get Free Report)'s share price dropped 4.7% during trading on Friday . The stock traded as low as $13.19 and last traded at $13.15. Approximately 340,228 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 859,116 shares. The stock had previously closed at $13.79.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barclays increased 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. Wall Street Zen upgraded shares of Green Dot from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Northland Securities set a $16.00 price objective on Green Dot in a research report on Tuesday. Finally, Keefe, Bruyette & Woods lifted their price objective on Green Dot from $11.00 to $12.00 and gave the company a "market perform" rating in a research note on Friday, July 11th. 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, Green Dot presently has a consensus rating of "Moderate Buy" and an average price target of $13.00.

Green Dot Price Performance

The firm has a market capitalization of $730.70 million, a PE ratio of -30.24 and a beta of 0.75. The company has a current ratio of 0.69, a quick ratio of 0.58 and a debt-to-equity ratio of 0.07. The firm's fifty day moving average price is $10.57 and its 200 day moving average price is $9.15.

Green Dot (NYSE:GDOT - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The financial services provider reported $0.40 earnings per share (EPS) 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 firm had revenue of $501.16 million for the quarter, compared to the consensus estimate of $496.49 million. During the same quarter in the previous year, the business earned $0.25 EPS. The company's quarterly revenue was up 23.9% compared to the same quarter last year. As a group, equities analysts forecast that Green Dot Corporation will post 0.87 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Christian Devin Ruppel sold 27,931 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $12.39, for a total value of $346,065.09. Following the sale, the insider directly owned 226,656 shares in the company, valued at $2,808,267.84. This 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 through the SEC website. Corporate insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Green Dot

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GDOT. Brooklyn Investment Group grew its holdings in Green Dot by 350,400.0% in the 1st quarter. Brooklyn Investment Group now owns 3,505 shares of the financial services provider's stock worth $30,000 after buying an additional 3,504 shares in the last quarter. Virtus Advisers LLC acquired a new stake in Green Dot in the second quarter valued at approximately $33,000. GAMMA Investing LLC lifted its holdings in Green Dot by 152.0% in 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 during the last quarter. Ameritas Investment Partners Inc. lifted its holdings 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 worth $59,000 after buying an additional 861 shares during the last quarter. Finally, CWM LLC raised its holdings in Green Dot by 131.8% in the 2nd quarter. CWM LLC now owns 8,664 shares of the financial services provider's stock valued at $93,000 after acquiring an additional 4,926 shares in the last quarter. Hedge funds and other institutional investors 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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