Green Dot (NYSE:GDOT) Stock Rating Lowered by Zacks Research

Green Dot (NYSE:GDOT) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other research firms also recently weighed in on GDOT. Weiss Ratings restated a “sell (d-)” rating on shares of Green Dot in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Green Dot from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Green Dot in a research note on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.12.

Green Dot Stock Performance

Green Dot stock opened at $13.35 on Monday. Green Dot has a fifty-two week low of $9.31 and a fifty-two week high of $15.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.50 and a current ratio of 0.50. The stock has a market cap of $756.51 million, a P/E ratio of -10.11 and a beta of 0.83. The firm’s fifty day moving average price is $12.97 and its 200-day moving average price is $12.29.

Green Dot (NYSE:GDOT) last released its earnings results on Monday, May 11th. The financial services provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.24. Green Dot had a positive return on equity of 7.56% and a negative net margin of 3.25%.The business had revenue of $652.03 million for the quarter, compared to analysts’ expectations of $597.39 million. On average, equities research analysts expect that Green Dot will post 1.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Green Dot

Large investors have recently bought and sold shares of the stock. Summit Securities Group LLC purchased a new stake in shares of Green Dot during the fourth quarter valued at approximately $66,000. Tower Research Capital LLC TRC raised its holdings in Green Dot by 23.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,504 shares of the financial services provider’s stock valued at $70,000 after buying an additional 1,221 shares during the last quarter. OLD National Bancorp IN purchased a new stake in Green Dot during the 4th quarter valued at $128,000. Caxton Associates LLP bought a new stake in Green Dot in the 1st quarter worth $96,000. Finally, DRW Securities LLC purchased a new position in shares of Green Dot in the fourth quarter valued at about $154,000. 92.56% of the stock is owned by hedge funds and other institutional investors.

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.