Barclays Cuts Green Dot (NYSE:GDOT) Price Target to $7.00

Green Dot (NYSE:GDOT - Free Report) had its target price lowered by Barclays from $10.00 to $7.00 in a research report report published on Monday morning,Benzinga reports. Barclays currently has an underweight rating on the financial services provider's stock.

Separately, Keefe, Bruyette & Woods reduced their price target on shares of Green Dot from $12.00 to $10.00 and set a "market perform" rating for the company in a research report on Friday, February 28th.

Green Dot Price Performance

GDOT traded up $0.25 during trading on Monday, reaching $7.35. 738,690 shares of the company were exchanged, compared to its average volume of 523,544. The company's 50-day moving average is $9.06 and its two-hundred day moving average is $10.43. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.05. Green Dot has a 12-month low of $6.42 and a 12-month high of $13.58. The company has a market cap of $395.28 million, a price-to-earnings ratio of -7.00 and a beta of 0.90.

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Insider Buying and Selling at Green Dot

In related news, major shareholder Topline Capital Partners, Lp sold 331,339 shares of Green Dot stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $10.54, for a total value of $3,492,313.06. Following the transaction, the insider now owns 5,376,787 shares in the company, valued at $56,671,334.98. This trade represents a 5.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Topline Capital Management, Ll sold 247,230 shares of the business's stock in a transaction on Friday, December 27th. The stock was sold at an average price of $10.54, for a total transaction of $2,605,804.20. Following the completion of the sale, the insider now directly owns 6,088,737 shares of the company's stock, valued at $64,175,287.98. This represents a 3.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 959,180 shares of company stock worth $10,071,696 over the last three months. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System grew its position in Green Dot by 13.0% during the 3rd quarter. Louisiana State Employees Retirement System now owns 26,000 shares of the financial services provider's stock worth $304,000 after acquiring an additional 3,000 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Green Dot by 14.1% in the third quarter. State of Alaska Department of Revenue now owns 30,650 shares of the financial services provider's stock worth $358,000 after purchasing an additional 3,783 shares during the last quarter. Amalgamated Bank increased its stake in shares of Green Dot by 14.0% in the third quarter. Amalgamated Bank now owns 15,607 shares of the financial services provider's stock worth $183,000 after buying an additional 1,920 shares during the period. Principal Financial Group Inc. raised its holdings in Green Dot by 11.8% during the 3rd quarter. Principal Financial Group Inc. now owns 253,130 shares of the financial services provider's stock valued at $2,964,000 after buying an additional 26,676 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in Green Dot by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 176,438 shares of the financial services provider's stock valued at $2,066,000 after buying an additional 8,978 shares during the period. 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.