Green Dot (NYSE:GDOT) Trading Down 4.6% - Here's What Happened

Green Dot Corporation (NYSE:GDOT - Get Free Report)'s share price dropped 4.6% during mid-day trading on Wednesday . The stock traded as low as $10.43 and last traded at $10.37. Approximately 168,732 shares traded hands during trading, a decline of 80% from the average daily volume of 849,275 shares. The stock had previously closed at $10.86.

Analysts Set New Price Targets

GDOT has been the subject of several analyst reports. Barclays boosted their target price on Green Dot from $7.00 to $10.00 and gave the stock an "underweight" rating in a research report on Monday, May 12th. Craig Hallum upgraded Green Dot from a "hold" rating to a "buy" rating and set a $14.00 target price for the company in a research report on Friday, March 14th. 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 report on Friday. Northland Securities upgraded Green Dot from a "market perform" rating to an "outperform" rating and set a $12.00 target price for the company in a research report on Wednesday, April 9th. Finally, Northland Capmk upgraded Green Dot from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Green Dot presently has an average rating of "Moderate Buy" and a consensus price target 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 business has a 50-day simple moving average of $9.94 and a two-hundred day simple moving average of $8.95. The stock has a market cap of $588.15 million, a price-to-earnings ratio of -82.42 and a beta of 0.76.

Green Dot (NYSE:GDOT - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.06 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $503.20 million. During the same quarter in the prior year, the firm posted $0.59 EPS. The business's revenue was up 23.6% on a year-over-year basis. As a group, research analysts forecast that Green Dot Corporation will post 0.87 EPS for the current year.

Insider Activity

In other Green Dot news, insider Christian Devin Ruppel sold 10,189 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $11.00, for a total transaction of $112,079.00. Following the completion of the sale, the insider owned 253,139 shares of the company's stock, valued at $2,784,529. This trade represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Green Dot

Hedge funds have recently added to or reduced their stakes in the business. 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 valued at $30,000 after purchasing an additional 3,504 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Green Dot during the 4th quarter valued at $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 valued at $48,000 after purchasing an additional 3,416 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Green Dot during the 4th quarter valued at $84,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Green Dot during the 1st quarter valued at $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.