Green Dot (NYSE:GDOT) Shares Down 11.8% – Here’s Why

Green Dot Co. (NYSE:GDOT)’s stock price traded down 11.8% on Friday . The company traded as low as $11.40 and last traded at $11.56. 73,201 shares were traded during trading, a decline of 86% from the average session volume of 540,638 shares. The stock had previously closed at $13.10.

Analyst Upgrades and Downgrades

GDOT has been the topic of a number of research reports. Barclays increased their price target on Green Dot from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Monday, September 23rd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $11.00 price target on shares of Green Dot in a report on Monday, July 22nd. Finally, Craig Hallum increased their price objective on shares of Green Dot from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.75.

Green Dot Price Performance

The stock has a market cap of $588.68 million, a P/E ratio of -11.33 and a beta of 0.91. The company has a fifty day moving average of $11.53 and a 200 day moving average of $10.35.

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

Insider Transactions at Green Dot

In related news, major shareholder Topline Capital Partners, Lp acquired 162,243 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were purchased at an average price of $11.87 per share, for a total transaction of $1,925,824.41. Following the acquisition, the insider now owns 6,157,665 shares in the company, valued at approximately $73,091,483.55. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Topline Capital Management, Ll purchased 36,671 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was bought at an average cost of $12.49 per share, with a total value of $458,020.79. Following the purchase, the insider now directly owns 5,995,422 shares of the company’s stock, valued at approximately $74,882,820.78. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Topline Capital Partners, Lp acquired 162,243 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was purchased at an average price of $11.87 per share, for a total transaction of $1,925,824.41. Following the acquisition, the insider now directly owns 6,157,665 shares of the company’s stock, valued at $73,091,483.55. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. SG Capital Management LLC bought a new position in Green Dot during the first quarter valued at about $4,254,000. American Century Companies Inc. raised its stake in shares of Green Dot by 79.0% in the 2nd quarter. American Century Companies Inc. now owns 322,692 shares of the financial services provider’s stock valued at $3,049,000 after acquiring an additional 142,377 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Green Dot by 41.4% in the 1st quarter. BNP Paribas Financial Markets now owns 157,703 shares of the financial services provider’s stock worth $1,471,000 after purchasing an additional 46,179 shares during the last quarter. Quest Partners LLC bought a new stake in Green Dot during the second quarter worth approximately $685,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in Green Dot by 40.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 18,689 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 5,390 shares during the last quarter. Institutional investors and hedge funds 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.