Jefferies Group LLC reaffirmed their buy rating on shares of Green Dot Corporation (NYSE:GDOT) in a research report report published on Thursday. Jefferies Group LLC currently has a $53.00 price target on the financial services provider’s stock.
Several other equities research analysts also recently weighed in on GDOT. Lake Street Capital initiated coverage on shares of Green Dot Corporation in a research note on Monday, June 26th. They set a hold rating and a $41.00 target price for the company. Keefe, Bruyette & Woods set a $37.00 target price on shares of Green Dot Corporation and gave the stock a hold rating in a research note on Thursday, July 6th. Zacks Investment Research upgraded shares of Green Dot Corporation from a hold rating to a buy rating and set a $44.00 target price for the company in a research note on Wednesday, July 12th. Citigroup Inc. reiterated a buy rating and set a $46.00 target price (up previously from $40.00) on shares of Green Dot Corporation in a research note on Monday, July 24th. Finally, BidaskClub downgraded shares of Green Dot Corporation from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Seven research 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’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $47.91.
Shares of Green Dot Corporation (NYSE:GDOT) traded down 0.76% during trading on Thursday, reaching $53.44. The company had a trading volume of 328,252 shares. The firm has a 50-day moving average of $49.31 and a 200 day moving average of $40.79. Green Dot Corporation has a 1-year low of $21.45 and a 1-year high of $55.57. The firm has a market capitalization of $2.70 billion, a PE ratio of 45.44 and a beta of 1.00.
Green Dot Corporation (NYSE:GDOT) last announced its earnings results on Tuesday, August 8th. The financial services provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.16. Green Dot Corporation had a net margin of 7.66% and a return on equity of 12.13%. The business had revenue of $222.50 million during the quarter, compared to the consensus estimate of $208.59 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The business’s quarterly revenue was up 28.2% compared to the same quarter last year. Analysts expect that Green Dot Corporation will post $2.05 earnings per share for the current year.
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In related news, insider Steven W. Streit sold 7,995 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $46.74, for a total transaction of $373,686.30. Following the sale, the insider now owns 217,010 shares in the company, valued at $10,143,047.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Kuan Archer sold 12,356 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $40.22, for a total transaction of $496,958.32. Following the sale, the chief operating officer now owns 117,024 shares in the company, valued at approximately $4,706,705.28. The disclosure for this sale can be found here. Insiders sold 152,192 shares of company stock worth $7,157,243 over the last quarter. Company insiders own 11.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in GDOT. Daiwa Securities Group Inc. acquired a new stake in Green Dot Corporation during the second quarter worth approximately $108,000. IFP Advisors Inc boosted its position in Green Dot Corporation by 5,537.3% during the second quarter. IFP Advisors Inc now owns 2,875 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 2,824 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Green Dot Corporation during the first quarter worth approximately $118,000. Turner Investments LLC acquired a new stake in Green Dot Corporation during the second quarter worth approximately $154,000. Finally, Riverhead Capital Management LLC boosted its position in Green Dot Corporation by 55.0% during the second quarter. Riverhead Capital Management LLC now owns 4,029 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 1,429 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.
About Green Dot Corporation
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.
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