Green Dot Corporation (GDOT) Lifted to “Buy” at BidaskClub
Green Dot Corporation (NYSE:GDOT) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report released on Friday.
GDOT has been the subject of a number of other reports. Zacks Investment Research lowered Green Dot Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 4th. Citigroup Inc. reiterated a “buy” rating and issued a $46.00 target price (up from $40.00) on shares of Green Dot Corporation in a report on Monday, July 24th. Deutsche Bank AG lifted their target price on Green Dot Corporation from $37.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday. Jefferies Group LLC reiterated a “buy” rating and issued a $42.00 target price on shares of Green Dot Corporation in a report on Monday, May 22nd. Finally, Keefe, Bruyette & Woods set a $37.00 target price on Green Dot Corporation and gave the company a “hold” rating in a report on Thursday, July 6th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Green Dot Corporation currently has an average rating of “Buy” and a consensus price target of $40.44.
Green Dot Corporation (NYSE:GDOT) traded down 1.21% on Friday, hitting $45.72. The stock had a trading volume of 214,946 shares. Green Dot Corporation has a 52-week low of $21.45 and a 52-week high of $46.88. The company has a market cap of $2.30 billion, a P/E ratio of 38.91 and a beta of 1.06. The firm’s 50-day moving average is $39.92 and its 200-day moving average is $34.53.
Green Dot Corporation (NYSE:GDOT) last released its earnings results on Tuesday, August 8th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.16. The firm had revenue of $222.50 million during the quarter, compared to analyst estimates of $208.59 million. Green Dot Corporation had a return on equity of 12.13% and a net margin of 7.66%. Green Dot Corporation’s revenue was up 28.2% compared to the same quarter last year. During the same period last year, the business posted $0.27 earnings per share. Equities research analysts anticipate that Green Dot Corporation will post $2.05 earnings per share for the current fiscal year.
In other Green Dot Corporation news, COO Kuan Archer sold 12,356 shares of Green Dot Corporation stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $40.22, for a total transaction of $496,958.32. Following the completion of the sale, the chief operating officer now directly owns 117,024 shares of the company’s stock, valued at approximately $4,706,705.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel John C. Ricci sold 15,043 shares of Green Dot Corporation stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $36.12, for a total value of $543,353.16. Following the sale, the general counsel now directly owns 90,032 shares of the company’s stock, valued at $3,251,955.84. The disclosure for this sale can be found here. Insiders have sold a total of 190,287 shares of company stock valued at $7,067,076 over the last ninety days. 11.00% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of GDOT. Daiwa Securities Group Inc. purchased a new stake in Green Dot Corporation during the second quarter worth approximately $108,000. IFP Advisors Inc boosted its stake in Green Dot Corporation by 5,537.3% in the second quarter. IFP Advisors Inc now owns 2,875 shares of the financial services provider’s stock worth $111,000 after buying an additional 2,824 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Green Dot Corporation during the first quarter worth approximately $118,000. Turner Investments LLC purchased a new stake in Green Dot Corporation during the second quarter worth approximately $154,000. Finally, Riverhead Capital Management LLC boosted its stake in Green Dot Corporation by 55.0% in the second quarter. Riverhead Capital Management LLC now owns 4,029 shares of the financial services provider’s stock worth $155,000 after buying an additional 1,429 shares during the period. Institutional investors and hedge funds own 81.21% of the company’s stock.
About Green Dot Corporation
Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.
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