Green Dot (NYSE:GDOT) Shares Down 11.8% – Time to Sell?

Green Dot Co. (NYSE:GDOT)’s share price dropped 11.8% on Friday . The company traded as low as $11.40 and last traded at $11.56. Approximately 73,201 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 540,638 shares. The stock had previously closed at $13.10.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $11.00 price objective on shares of Green Dot in a research report on Monday, July 22nd. Craig Hallum raised their price objective on shares of Green Dot from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Finally, Barclays upped their target price on shares of Green Dot from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.75.

Green Dot Price Performance

The business’s 50-day simple moving average is $11.53 and its 200-day simple moving average is $10.35. The company has a market cap of $588.68 million, a price-to-earnings ratio of -11.33 and a beta of 0.91.

Green Dot (NYSE:GDOT) last posted its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Green Dot had a positive return on equity of 4.01% and a negative net margin of 3.41%. The business had revenue of $407.10 million for the quarter, compared to analyst estimates of $381.87 million. During the same quarter last year, the company earned $0.20 earnings per share. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Green Dot Co. will post 1 EPS for the current year.

Insider Transactions at Green Dot

In other Green Dot news, insider Topline Capital Management, Ll purchased 36,671 shares of Green Dot stock in a transaction on Monday, September 23rd. The shares were bought at an average price of $12.49 per share, with a total value of $458,020.79. Following the purchase, the insider now directly owns 5,995,422 shares in the company, valued at $74,882,820.78. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Topline Capital Management, Ll purchased 36,671 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average price of $12.49 per share, with a total value of $458,020.79. Following the completion of the transaction, the insider now owns 5,995,422 shares of the company’s stock, valued at approximately $74,882,820.78. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Topline Capital Partners, Lp purchased 162,243 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was bought at an average price of $11.87 per share, for a total transaction of $1,925,824.41. Following the acquisition, the insider now owns 6,157,665 shares in the company, valued at $73,091,483.55. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Green Dot

A number of hedge funds have recently made changes to their positions in GDOT. Empowered Funds LLC boosted its stake in Green Dot by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 176,438 shares of the financial services provider’s stock valued at $2,066,000 after acquiring an additional 8,978 shares during the last quarter. Principal Financial Group Inc. grew its stake in Green Dot by 11.8% in the third quarter. Principal Financial Group Inc. now owns 253,130 shares of the financial services provider’s stock worth $2,964,000 after purchasing an additional 26,676 shares in the last quarter. Amalgamated Bank increased its holdings in Green Dot by 14.0% in the third quarter. Amalgamated Bank now owns 15,607 shares of the financial services provider’s stock valued at $183,000 after buying an additional 1,920 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Green Dot by 14.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 30,650 shares of the financial services provider’s stock valued at $358,000 after acquiring an additional 3,783 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Green Dot by 13.0% during the 3rd quarter. Louisiana State Employees Retirement System now owns 26,000 shares of the financial services provider’s stock valued at $304,000 after acquiring an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 92.56% of the company’s stock.

About Green Dot

Green Dot Corporation, a financial technology and registered bank holding company, provides various financial services to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services. The company provides deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.