Green Dot Corporation (GDOT) Downgraded to “Hold” at Lake Street Capital

Lake Street Capital cut shares of Green Dot Corporation (NYSE:GDOT) from a buy rating to a hold rating in a research report released on Wednesday morning. Lake Street Capital currently has $55.00 target price on the financial services provider’s stock, up from their previous target price of $44.00.

Several other equities analysts have also commented on GDOT. Keefe, Bruyette & Woods set a $37.00 target price on Green Dot Corporation and gave the company a hold rating in a report on Thursday, July 6th. Zacks Investment Research raised Green Dot Corporation from a hold rating to a buy rating and set a $44.00 price objective on the stock in a report on Wednesday, July 12th. Citigroup Inc. reaffirmed a buy rating and set a $46.00 price objective (up previously from $40.00) on shares of Green Dot Corporation in a report on Monday, July 24th. BidaskClub lowered Green Dot Corporation from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Finally, William Blair raised Green Dot Corporation from a market perform rating to an outperform rating in a report on Wednesday, August 9th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $47.91.

Green Dot Corporation (GDOT) traded down 0.31% during mid-day trading on Wednesday, hitting $53.85. The stock had a trading volume of 294,781 shares. Green Dot Corporation has a 52-week low of $21.45 and a 52-week high of $55.57. The firm has a 50-day moving average of $49.11 and a 200-day moving average of $40.69. The stock has a market cap of $2.72 billion, a P/E ratio of 45.79 and a beta of 1.00.

Green Dot Corporation (NYSE:GDOT) last posted its earnings results on Tuesday, August 8th. The financial services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.31 by $0.16. The firm had revenue of $222.50 million for the quarter, compared to analyst estimates of $208.59 million. Green Dot Corporation had a return on equity of 12.13% and a net margin of 7.66%. Green Dot Corporation’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 earnings per share. On average, analysts forecast that Green Dot Corporation will post $2.05 EPS for the current fiscal year.

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In other news, Director Kenneth C. Aldrich sold 10,000 shares of the stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $40.01, for a total transaction of $400,100.00. Following the completion of the sale, the director now owns 20,142 shares in the company, valued at $805,881.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Rajeev V. Date sold 4,674 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $45.45, for a total transaction of $212,433.30. Following the sale, the director now owns 2,889 shares of the company’s stock, valued at approximately $131,305.05. The disclosure for this sale can be found here. Insiders have sold 154,197 shares of company stock valued at $7,123,934 in the last quarter. Insiders own 11.00% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. acquired a new stake in Green Dot Corporation in the second quarter valued at about $108,000. IFP Advisors Inc lifted its position in Green Dot Corporation by 5,537.3% in the second quarter. IFP Advisors Inc now owns 2,875 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 2,824 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in Green Dot Corporation in the first quarter valued at about $118,000. Turner Investments LLC acquired a new stake in Green Dot Corporation in the second quarter valued at about $154,000. Finally, Riverhead Capital Management LLC lifted its position in Green Dot Corporation by 55.0% in the second quarter. Riverhead Capital Management LLC now owns 4,029 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 1,429 shares during the period. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Green Dot Corporation Company Profile

Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.

Analyst Recommendations for Green Dot Corporation (NYSE:GDOT)

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