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

Shares of Green Dot Corporation (NYSE:GDOT) have been given an average rating of “Reduce” by the six brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $12.0833.

GDOT has been the topic of a number of recent analyst reports. Northland Securities set a $14.25 price objective on Green Dot and gave the stock a “market perform” rating in a report on Tuesday, November 25th. Wall Street Zen downgraded Green Dot from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Green Dot in a research report on Thursday, January 22nd.

Green Dot Stock Performance

NYSE GDOT opened at $10.54 on Monday. The stock has a market capitalization of $583.85 million, a price-to-earnings ratio of -12.39 and a beta of 0.82. The business’s 50 day moving average is $12.00 and its two-hundred day moving average is $12.58. Green Dot has a 12-month low of $6.59 and a 12-month high of $15.41. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.07.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GDOT. State of Alaska Department of Revenue purchased a new stake in shares of Green Dot during the 3rd quarter worth approximately $29,000. Virtus Advisers LLC acquired a new stake in shares of Green Dot in the 2nd quarter worth approximately $33,000. Ameritas Investment Partners Inc. increased its stake in Green Dot by 18.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,478 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 861 shares in the last quarter. Summit Securities Group LLC acquired a new position in Green Dot during the fourth quarter worth $66,000. Finally, Tower Research Capital LLC TRC raised its holdings in Green Dot by 23.1% during the second quarter. Tower Research Capital LLC TRC now owns 6,504 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 1,221 shares during the last quarter. 92.56% of the stock is owned by hedge funds and other institutional investors.

About Green Dot

Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company that provides prepaid debit cards, cash reload processing services and consumer banking products through its subsidiary, Green Dot Bank. The firm offers reloadable prepaid cards under its own brand and through partnerships with retailers, payments networks and banks. In addition to consumer-focused prepaid card accounts, Green Dot delivers payroll card services, government disbursement programs and B2B payment solutions that enable businesses to distribute funds digitally to end users.

Founded in 1999 by Steve Streit and headquartered in Austin, Texas, Green Dot began as a prepaid MasterCard provider sold through retail outlets.