Keefe, Bruyette & Woods cut shares of Green Dot (NYSE:GDOT) from an outperform rating to a market perform rating in a report published on Thursday, BenzingaRatingsTable reports. Keefe, Bruyette & Woods currently has $35.00 price target on the financial services provider’s stock, down from their prior price target of $60.00.
Several other brokerages have also recently weighed in on GDOT. Zacks Investment Research upgraded Green Dot from a hold rating to a buy rating and set a $52.00 price target for the company in a research report on Tuesday, July 9th. BTIG Research cut Green Dot from a buy rating to a neutral rating in a research report on Thursday, May 9th. Needham & Company LLC cut their price objective on Green Dot from $75.00 to $60.00 and set a buy rating for the company in a research report on Thursday, May 9th. Loop Capital restated a buy rating and issued a $75.00 price objective on shares of Green Dot in a research report on Thursday, May 9th. Finally, Citigroup cut Green Dot from a buy rating to a neutral rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $60.91.
GDOT stock traded up $2.40 during trading on Thursday, hitting $29.82. 3,554,359 shares of the company traded hands, compared to its average volume of 1,003,126. The stock’s 50-day moving average is $47.77. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.46 billion, a P/E ratio of 11.79 and a beta of 0.96. Green Dot has a 1 year low of $24.19 and a 1 year high of $93.00.
In other news, insider Konrad Alt sold 919 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $41.91, for a total value of $38,515.29. Following the completion of the sale, the insider now directly owns 76,724 shares in the company, valued at $3,215,502.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Glinda Bridgforth-Hodges sold 6,787 shares of Green Dot stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $47.43, for a total value of $321,907.41. Following the completion of the sale, the director now directly owns 2,578 shares in the company, valued at $122,274.54. The disclosure for this sale can be found here. Insiders sold 13,238 shares of company stock valued at $630,772 over the last 90 days. Company insiders own 7.80% of the company’s stock.
Several large investors have recently modified their holdings of the company. Cutler Group LP acquired a new position in Green Dot during the second quarter worth $29,000. Tortoise Index Solutions LLC acquired a new position in Green Dot during the first quarter worth $43,000. Manchester Capital Management LLC acquired a new position in Green Dot during the first quarter worth $53,000. FNY Investment Advisers LLC boosted its stake in Green Dot by 708.8% during the first quarter. FNY Investment Advisers LLC now owns 1,100 shares of the financial services provider’s stock worth $66,000 after buying an additional 964 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in Green Dot during the second quarter worth $68,000. 87.38% of the stock is currently owned by hedge funds and other institutional investors.
About Green Dot
Green Dot Corporation operates as a financial technology and bank holding company in the United States. It operates in two segments, Account Services, and Processing and Settlement Services. The company offers deposit account programs, such network-branded reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer and small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.
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