Green Dot (NYSE:GDOT) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?
by Mitch Edgeman · The Markets DailyGreen Dot Corporation (NYSE:GDOT – Get Free Report)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.62 and traded as high as $13.27. Green Dot shares last traded at $13.1820, with a volume of 337,525 shares trading hands.
Analysts Set New Price Targets
Several research analysts have issued reports on GDOT shares. Zacks Research cut Green Dot from a “hold” rating to a “strong sell” rating in a research report on Friday, August 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Green Dot in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $16.12.
View Our Latest Research Report on GDOT
Green Dot Stock Performance
The stock’s 50-day moving average price is $13.33 and its 200-day moving average price is $12.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.45 and a current ratio of 0.45. The company has a market capitalization of $752.10 million, a price-to-earnings ratio of -25.88 and a beta of 0.82.
Green Dot (NYSE:GDOT – Get Free Report) last released its quarterly earnings results on Monday, August 10th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The firm had revenue of $591.29 million during the quarter, compared to analyst estimates of $541.16 million. Green Dot had a positive return on equity of 6.92% and a negative net margin of 1.14%. As a group, equities research analysts expect that Green Dot Corporation will post 1.32 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Newtyn Management LLC increased its holdings in Green Dot by 743.7% during the 2nd quarter. Newtyn Management LLC now owns 1,203,203 shares of the financial services provider’s stock valued at $16,255,000 after acquiring an additional 1,060,598 shares in the last quarter. CenterBook Partners LP lifted its holdings in shares of Green Dot by 406.7% in the fourth quarter. CenterBook Partners LP now owns 1,233,176 shares of the financial services provider’s stock valued at $15,797,000 after purchasing an additional 989,823 shares in the last quarter. Walmart Inc. purchased a new stake in shares of Green Dot in the second quarter valued at about $13,172,000. M3F Inc. acquired a new stake in shares of Green Dot in the first quarter valued at approximately $8,402,000. Finally, Assenagon Asset Management S.A. grew its position in shares of Green Dot by 747.2% in the first quarter. Assenagon Asset Management S.A. now owns 474,968 shares of the financial services provider’s stock valued at $5,329,000 after purchasing an additional 418,906 shares during the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.
About Green Dot
Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company that provides digital banking, payment and financial services to consumers and businesses in the United States. Through its subsidiaries, including Green Dot Bank, the company offers checking and savings accounts, prepaid debit cards, mobile banking tools, direct deposit services and money-transfer products.
Green Dot markets products under its own brands, including GO2bank, and provides program management and banking services for business partners.