Green Dot Corporation (NYSE:GDOT) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Green Dot Corporation (NYSE:GDOT) have received a consensus rating of “Reduce” from the five analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $16.12.

A number of brokerages have recently issued reports on GDOT. Zacks Research lowered Green Dot from a “hold” rating to a “strong sell” rating in a research report on Friday, August 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Green Dot in a research report on Friday, July 17th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GDOT. Engineers Gate Manager LP boosted its holdings in Green Dot by 81.3% in the 2nd quarter. Engineers Gate Manager LP now owns 77,256 shares of the financial services provider’s stock worth $1,044,000 after buying an additional 34,637 shares during the last quarter. Newtyn Management LLC lifted its position in shares of Green Dot by 743.7% in the second quarter. Newtyn Management LLC now owns 1,203,203 shares of the financial services provider’s stock valued at $16,255,000 after acquiring an additional 1,060,598 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Green Dot in the second quarter valued at approximately $26,000. Walmart Inc. acquired a new stake in shares of Green Dot in the second quarter worth approximately $13,172,000. Finally, Rangeley Capital LLC acquired a new stake in shares of Green Dot in the first quarter worth approximately $1,826,000. 92.56% of the stock is owned by hedge funds and other institutional investors.

Green Dot Price Performance

Shares of Green Dot stock opened at $12.38 on Friday. The firm has a market cap of $705.42 million, a PE ratio of -24.27 and a beta of 0.84. Green Dot has a twelve month low of $10.10 and a twelve month high of $13.75. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $13.19 and a 200 day moving average price of $12.73.

Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Monday, August 10th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The business had revenue of $591.29 million for the quarter, compared to analysts’ expectations of $541.16 million. Green Dot had a positive return on equity of 6.92% and a negative net margin of 1.14%. Sell-side analysts predict that Green Dot will post 1.32 earnings per share for the current fiscal year.

About Green Dot

Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company that provides digital banking, payment and financial services to consumers and businesses in the United States. Through its subsidiaries, including Green Dot Bank, the company offers checking and savings accounts, prepaid debit cards, mobile banking tools, direct deposit services and money-transfer products.

Green Dot markets products under its own brands, including GO2bank, and provides program management and banking services for business partners.