Financial Technology

Green Dot Co. (NYSE:GDOT) Short Interest Down 15.7% in August

Green Dot Co. (NYSE:GDOTGet Rating) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 2,630,000 shares, a decline of 15.7% from the August 15th total of 3,120,000 shares. Based on an average trading volume of 521,500 shares, the days-to-cover ratio is presently 5.0 days. Approximately 5.1% of the shares of the company are sold short.

Green Dot Price Performance

Shares of NYSE:GDOT traded up $0.73 during midday trading on Friday, hitting $20.85. The company had a trading volume of 2,392,421 shares, compared to its average volume of 539,858. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 22.91 and a beta of 1.04. The company has a fifty day moving average of $23.48 and a two-hundred day moving average of $25.70. Green Dot has a 12-month low of $19.12 and a 12-month high of $52.13.

Green Dot (NYSE:GDOTGet Rating) last announced its earnings results on Thursday, August 4th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.22. The firm had revenue of $362.80 million for the quarter, compared to analysts’ expectations of $362.08 million. Green Dot had a net margin of 3.52% and a return on equity of 10.03%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.56 EPS. Research analysts expect that Green Dot will post 1.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GDOT. Citigroup boosted their price target on Green Dot to $28.00 in a report on Tuesday, August 9th. Needham & Company LLC reduced their price target on Green Dot from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. Finally, Barclays lowered Green Dot from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $31.00 to $25.00 in a research report on Monday, August 15th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.17.

Hedge Funds Weigh In On Green Dot

A number of institutional investors and hedge funds have recently bought and sold shares of the business. ACG Wealth purchased a new stake in Green Dot during the 2nd quarter worth approximately $96,000. Sageworth Trust Co purchased a new position in Green Dot during the 2nd quarter worth $106,000. Point72 Hong Kong Ltd purchased a new position in Green Dot during the 2nd quarter worth $114,000. SG Americas Securities LLC purchased a new position in Green Dot during the 1st quarter worth $137,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of Green Dot in the 1st quarter valued at about $154,000. 90.66% of the stock is currently owned by institutional investors and hedge funds.

About Green Dot

(Get Rating)

Green Dot Corporation, a financial technology and bank holding company, provides various financial products 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 offers deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.

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