Green Dot Co. (NYSE:GDOT) Sees Significant Decline in Short Interest

Green Dot Co. (NYSE:GDOT) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 1,660,000 shares, a drop of 15.3% from the August 15th total of 1,960,000 shares. Based on an average daily volume of 457,400 shares, the short-interest ratio is currently 3.6 days. Approximately 3.2% of the company’s stock are sold short.

Green Dot Stock Performance

Shares of NYSE GDOT traded up $0.01 during mid-day trading on Wednesday, hitting $12.53. 464,551 shares of the stock were exchanged, compared to its average volume of 572,220. Green Dot has a twelve month low of $7.30 and a twelve month high of $14.39. The stock’s fifty day simple moving average is $10.31 and its two-hundred day simple moving average is $9.60. The company has a market cap of $666.72 million, a P/E ratio of -27.30 and a beta of 0.91.

Green Dot (NYSE:GDOT) last released its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. Green Dot had a negative net margin of 3.41% and a positive return on equity of 4.01%. The business had revenue of $407.10 million for the quarter, compared to analysts’ expectations of $381.87 million. During the same period in the prior year, the firm earned $0.20 earnings per share. Green Dot’s revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts predict that Green Dot will post 1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its stake in Green Dot by 142.0% in the fourth quarter. Russell Investments Group Ltd. now owns 70,717 shares of the financial services provider’s stock valued at $700,000 after acquiring an additional 41,498 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Green Dot by 12.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 749,075 shares of the financial services provider’s stock valued at $7,416,000 after purchasing an additional 81,846 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Green Dot by 428.0% in the fourth quarter. BNP Paribas Financial Markets now owns 111,524 shares of the financial services provider’s stock valued at $1,104,000 after purchasing an additional 90,402 shares during the last quarter. Jump Financial LLC lifted its stake in Green Dot by 289.6% in the fourth quarter. Jump Financial LLC now owns 87,173 shares of the financial services provider’s stock valued at $863,000 after buying an additional 64,799 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Green Dot by 140.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,262 shares of the financial services provider’s stock worth $166,000 after buying an additional 10,663 shares during the last quarter. 92.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $11.00 price objective on shares of Green Dot in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.75.

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.