Green Dot (NYSE:GDOT) Trading 6.6% Higher

Green Dot Co. (NYSE:GDOT)’s stock price rose 6.6% on Tuesday . The stock traded as high as $12.51 and last traded at $12.51. Approximately 154,034 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 570,687 shares. The stock had previously closed at $11.74.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and set a $11.00 target price on shares of Green Dot in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Green Dot currently has an average rating of “Hold” and a consensus price target of $10.75.

Green Dot Price Performance

The stock has a market capitalization of $666.19 million, a price-to-earnings ratio of -26.49 and a beta of 0.91. The business has a 50 day simple moving average of $10.25 and a 200-day simple moving average of $9.57.

Green Dot (NYSE:GDOT) last announced its earnings results on Thursday, August 8th. The financial services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. Green Dot had a negative net margin of 3.41% and a positive return on equity of 4.01%. The firm had revenue of $407.10 million for the quarter, compared to the consensus estimate of $381.87 million. During the same period last year, the company posted $0.20 EPS. The business’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities analysts predict that Green Dot Co. will post 1 earnings per share for the current year.

Hedge Funds Weigh In On Green Dot

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new stake in Green Dot in the 2nd quarter valued at approximately $25,000. Nisa Investment Advisors LLC lifted its position in shares of Green Dot by 162.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,602 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,609 shares in the last quarter. Headlands Technologies LLC boosted its holdings in Green Dot by 89.2% during the first quarter. Headlands Technologies LLC now owns 2,743 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,293 shares during the last quarter. UMB Bank n.a. grew its position in Green Dot by 98.3% in the first quarter. UMB Bank n.a. now owns 2,855 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,415 shares in the last quarter. Finally, Quarry LP acquired a new stake in Green Dot in the 2nd quarter valued at $32,000. 92.56% of the stock is owned by institutional investors and hedge funds.

About Green Dot

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.