Green Dot (NYSE:GDOT) Shares Gap Up Following Earnings Beat

Shares of Green Dot Corporation (NYSE:GDOT) gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $10.65, but opened at $11.20. Green Dot shares last traded at $11.49, with a volume of 140,711 shares trading hands.

The financial services provider reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. Green Dot had a negative net margin of 4.75% and a positive return on equity of 6.93%. The business had revenue of $519.72 million for the quarter, compared to analyst estimates of $508.09 million.

Analyst Upgrades and Downgrades

GDOT has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Green Dot in a research note on Thursday, January 22nd. Northland Securities set a $14.25 price objective on Green Dot and gave the company a “market perform” rating in a report on Tuesday, November 25th. Craig Hallum reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Green Dot in a research report on Tuesday. Finally, Wall Street Zen cut Green Dot from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $13.56.

Hedge Funds Weigh In On Green Dot

A number of large investors have recently bought and sold shares of the business. Villanova Investment Management Co LLC raised its stake in shares of Green Dot by 4.5% during the 4th quarter. Villanova Investment Management Co LLC now owns 209,211 shares of the financial services provider’s stock worth $2,680,000 after buying an additional 9,099 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in Green Dot by 9.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 37,434 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 3,123 shares during the period. XTX Topco Ltd grew its stake in Green Dot by 10.6% in the 4th quarter. XTX Topco Ltd now owns 81,558 shares of the financial services provider’s stock valued at $1,045,000 after acquiring an additional 7,817 shares during the period. VARCOV Co. purchased a new stake in Green Dot in the 4th quarter worth $258,000. Finally, Tudor Investment Corp ET AL increased its holdings in Green Dot by 89.3% in the 4th quarter. Tudor Investment Corp ET AL now owns 146,538 shares of the financial services provider’s stock worth $1,877,000 after acquiring an additional 69,117 shares in the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.

Green Dot Price Performance

The company has a quick ratio of 0.54, a current ratio of 0.52 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $619.90 million, a price-to-earnings ratio of -6.28 and a beta of 0.82. The stock’s 50-day simple moving average is $11.90 and its two-hundred day simple moving average is $12.52.

Green Dot Company Profile

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.