StockNews.com Downgrades Green Dot (NYSE:GDOT) to Sell

Green Dot (NYSE:GDOT) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Other equities research analysts have also issued research reports about the company. Truist Financial raised their target price on Green Dot from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. TheStreet lowered Green Dot from a “c-” rating to a “d” rating in a research report on Thursday, February 1st. Finally, Keefe, Bruyette & Woods cut their target price on Green Dot from $12.50 to $11.00 and set a “market perform” rating on the stock in a research report on Friday, April 5th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.75.

Green Dot Trading Up 2.2 %

NYSE:GDOT traded up $0.18 during trading hours on Tuesday, hitting $8.18. The company had a trading volume of 596,001 shares, compared to its average volume of 732,652. The company has a 50-day moving average of $8.61 and a 200 day moving average of $9.51. The company has a market cap of $431.89 million, a P/E ratio of 62.89 and a beta of 1.04. Green Dot has a 1 year low of $7.30 and a 1 year high of $21.37.

Green Dot (NYSE:GDOT) last posted its earnings results on Tuesday, February 27th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Green Dot had a return on equity of 6.78% and a net margin of 0.45%. The firm had revenue of $361.72 million for the quarter, compared to analyst estimates of $350.14 million. On average, analysts forecast that Green Dot will post 0.88 earnings per share for the current year.

Insider Buying and Selling

In related news, CRO Christian Devin Ruppel purchased 33,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was bought at an average cost of $9.06 per share, with a total value of $298,980.00. Following the completion of the acquisition, the executive now directly owns 101,715 shares in the company, valued at approximately $921,537.90. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Principal Co Lp Starboard sold 150,000 shares of Green Dot stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $8.17, for a total value of $1,225,500.00. Following the completion of the sale, the insider now owns 276,595 shares of the company’s stock, valued at $2,259,781.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Christian Devin Ruppel acquired 33,000 shares of the stock in a transaction dated Monday, March 11th. The stock was acquired at an average cost of $9.06 per share, with a total value of $298,980.00. Following the transaction, the executive now owns 101,715 shares of the company’s stock, valued at $921,537.90. The disclosure for this purchase can be found here. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Green Dot

Institutional investors have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. boosted its position in shares of Green Dot by 48.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,934,157 shares of the financial services provider’s stock worth $46,419,000 after buying an additional 954,860 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Green Dot by 360.7% in the third quarter. Assenagon Asset Management S.A. now owns 777,929 shares of the financial services provider’s stock worth $10,837,000 after acquiring an additional 609,084 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Green Dot in the third quarter worth about $7,869,000. Norges Bank acquired a new position in shares of Green Dot in the fourth quarter worth about $7,820,000. Finally, Federated Hermes Inc. lifted its stake in shares of Green Dot by 56.5% in the first quarter. Federated Hermes Inc. now owns 1,241,717 shares of the financial services provider’s stock worth $34,122,000 after acquiring an additional 448,144 shares in the last quarter. Hedge funds and other institutional investors own 92.56% of the company’s stock.

Green Dot Company Profile

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.