Short Interest in Green Dot Co. (NYSE:GDOT) Drops By 10.8%

Green Dot Co. (NYSE:GDOT) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totalling 1,480,000 shares, a drop of 10.8% from the August 31st total of 1,660,000 shares. Approximately 2.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 466,800 shares, the short-interest ratio is presently 3.2 days.

Green Dot Trading Up 0.7 %

Shares of GDOT stock opened at $11.67 on Friday. The company has a market capitalization of $620.96 million, a price-to-earnings ratio of -24.83 and a beta of 0.91. Green Dot has a 1-year low of $7.30 and a 1-year high of $14.10. The stock’s fifty day simple moving average is $10.69 and its 200-day simple moving average is $9.79.

Green Dot (NYSE:GDOT) last released its earnings results on Thursday, August 8th. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $407.10 million for the quarter, compared to analysts’ expectations of $381.87 million. Green Dot had a positive return on equity of 4.01% and a negative net margin of 3.41%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 EPS. On average, sell-side analysts predict that Green Dot will post 1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GDOT shares. Barclays increased their price target on Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Monday, September 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $11.00 target price on shares of Green Dot in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.50.

Hedge Funds Weigh In On Green Dot

Institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC increased its stake in shares of Green Dot by 44.3% during the 2nd quarter. Headlands Technologies LLC now owns 3,957 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,214 shares during the last quarter. UMB Bank n.a. increased its position in Green Dot by 98.3% during the first quarter. UMB Bank n.a. now owns 2,855 shares of the financial services provider’s stock worth $27,000 after buying an additional 1,415 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Green Dot by 7.3% during the second quarter. Point72 Asset Management L.P. now owns 21,130 shares of the financial services provider’s stock valued at $200,000 after buying an additional 1,430 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Green Dot by 4.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 39,707 shares of the financial services provider’s stock worth $375,000 after acquiring an additional 1,524 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Green Dot by 162.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,602 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,609 shares during the last quarter. 92.56% of the stock is currently owned by hedge funds and other institutional investors.

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.