Green Dot (NYSE:GDOT) Stock Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Green Dot shares moved above their 200-day moving average, reaching $13.40 and last trading at $13.36, compared with the $12.49 long-term average.
• Analyst sentiment remains cautious: Green Dot carries an average “Reduce” rating, including recent “Sell” and “Strong Sell” assessments, with a consensus price target of $16.12.
• The company’s latest quarter showed mixed results: revenue of $591.29 million exceeded expectations, but earnings per share of $0.26 fell short of the $0.37 consensus estimate.

Green Dot Corporation (NYSE:GDOT - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.49 and traded as high as $13.40. Green Dot shares last traded at $13.36, with a volume of 206,137 shares.

Analyst Ratings Changes

A number of research firms recently issued reports on GDOT. Weiss Ratings restated a "sell (d-)" rating on shares of Green Dot in a report on Friday, July 17th. Zacks Research downgraded Green Dot from a "hold" rating to a "strong sell" rating in a research report on Friday, August 21st. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Green Dot has an average rating of "Reduce" and a consensus price target of $16.12.

Green Dot Price Performance

The firm has a market capitalization of $761.39 million, a P/E ratio of -26.20 and a beta of 0.84. The stock's 50 day simple moving average is $13.32 and its 200 day simple moving average is $12.49. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.45 and a current ratio of 0.45.

Green Dot (NYSE:GDOT - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). Green Dot had a negative net margin of 1.14% and a positive return on equity of 6.92%. The company had revenue of $591.29 million for the quarter, compared to the consensus estimate of $541.16 million. As a group, analysts expect that Green Dot Corporation will post 1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Green Dot

Several large investors have recently modified their holdings of GDOT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Green Dot by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,801 shares of the financial services provider's stock valued at $268,000 after buying an additional 1,341 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Green Dot during the 1st quarter worth approximately $96,000. Empowered Funds LLC lifted its position in Green Dot by 7.2% during the first quarter. Empowered Funds LLC now owns 198,919 shares of the financial services provider's stock valued at $1,679,000 after acquiring an additional 13,437 shares during the last quarter. Jane Street Group LLC lifted its position in Green Dot by 235.6% during the first quarter. Jane Street Group LLC now owns 447,546 shares of the financial services provider's stock valued at $3,777,000 after acquiring an additional 314,208 shares during the last quarter. Finally, Creative Planning acquired a new stake in Green Dot in the second quarter valued at approximately $287,000. Institutional investors own 92.56% of the company's stock.

About Green Dot

Green Dot Corporation NYSE: GDOT is a financial technology and bank holding company that provides prepaid debit cards, cash reload processing services and consumer banking products through its subsidiary, Green Dot Bank. The firm offers reloadable prepaid cards under its own brand and through partnerships with retailers, payments networks and banks. In addition to consumer-focused prepaid card accounts, Green Dot delivers payroll card services, government disbursement programs and B2B payment solutions that enable businesses to distribute funds digitally to end users.

Founded in 1999 by Steve Streit and headquartered in Austin, Texas, Green Dot began as a prepaid MasterCard provider sold through retail outlets.

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