Green Dot (NYSE:GDOT) Trading Up 6.6%

Green Dot Co. (NYSE:GDOT) shares traded up 6.6% during mid-day trading on Tuesday . The company traded as high as $12.51 and last traded at $12.51. 154,034 shares traded hands during trading, a decline of 73% from the average session volume of 570,687 shares. The stock had previously closed at $11.74.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $11.00 price objective on shares of Green Dot in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.75.

Green Dot Stock Performance

The firm has a market cap of $664.86 million, a P/E ratio of -26.79 and a beta of 0.91. The stock’s 50 day simple moving average is $10.38 and its 200 day simple moving average is $9.62.

Green Dot (NYSE:GDOT) last issued its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.25 EPS for the quarter, topping 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 firm had revenue of $407.10 million during the quarter, compared to analyst estimates of $381.87 million. During the same period in the previous year, the company posted $0.20 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, analysts forecast that Green Dot Co. will post 1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. grew its position in shares of Green Dot by 7.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 21,130 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 1,430 shares during the period. Quarry LP bought a new position in Green Dot during the second quarter valued at $32,000. Algert Global LLC raised its stake in shares of Green Dot by 4.0% in the second quarter. Algert Global LLC now owns 125,524 shares of the financial services provider’s stock valued at $1,186,000 after buying an additional 4,774 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Green Dot by 12.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,125 shares of the financial services provider’s stock valued at $200,000 after buying an additional 2,331 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new position in shares of Green Dot during the 2nd quarter worth $232,000. Hedge funds and other institutional investors own 92.56% of the company’s stock.

Green Dot Company Profile

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.