Green Dot (NYSE:GDOT) Announces Earnings Results

Green Dot (NYSE:GDOT) announced its earnings results on Monday. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11), FiscalAI reports. The business had revenue of $591.29 million for the quarter, compared to analysts’ expectations of $541.16 million. Green Dot had a negative net margin of 3.25% and a positive return on equity of 7.56%.

Green Dot Price Performance

Shares of GDOT stock traded up $0.07 on Tuesday, reaching $13.33. The company’s stock had a trading volume of 166,152 shares, compared to its average volume of 537,418. Green Dot has a 12-month low of $10.10 and a 12-month high of $15.41. The stock’s 50 day simple moving average is $13.17 and its 200-day simple moving average is $12.38. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $755.77 million, a P/E ratio of -10.13 and a beta of 0.84.

Analyst Ratings Changes

GDOT has been the subject of a number of research reports. Zacks Research downgraded shares of Green Dot from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Green Dot in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Green Dot currently has a consensus rating of “Hold” and a consensus target price of $16.12.

Institutional Trading of Green Dot

A number of large investors have recently modified their holdings of the business. Steel Partners Holdings L.P. bought a new position in shares of Green Dot in the fourth quarter worth approximately $48,332,000. No Street GP LP grew its position in Green Dot by 150.0% in the third quarter. No Street GP LP now owns 4,000,000 shares of the financial services provider’s stock worth $53,720,000 after acquiring an additional 2,400,000 shares in the last quarter. Oberweis Asset Management Inc. bought a new stake in Green Dot during the third quarter worth about $13,031,000. Weiss Asset Management LP bought a new position in shares of Green Dot during the 4th quarter valued at about $10,801,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Green Dot during the 4th quarter valued at about $8,877,000. Institutional investors own 92.56% of the company’s stock.

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.