Short Interest in Green Dot Co. (NYSE:GDOT) Decreases By 15.3%

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

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 note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $10.75.

Green Dot Price Performance

Shares of NYSE:GDOT traded up $0.22 during mid-day trading on Monday, hitting $11.74. The company had a trading volume of 374,856 shares, compared to its average volume of 572,939. The company has a market capitalization of $624.69 million, a PE ratio of -24.51 and a beta of 0.91. The firm has a fifty day moving average price of $10.20 and a 200 day moving average price of $9.55. Green Dot has a one year low of $7.30 and a one year high of $14.54.

Green Dot (NYSE:GDOT) last issued its 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 positive return on equity of 4.01% and a negative net margin of 3.41%. The company had revenue of $407.10 million during the quarter, compared to the consensus estimate of $381.87 million. During the same period last year, the business posted $0.20 EPS. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. Research analysts expect that Green Dot will post 1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Green Dot

Institutional investors have recently modified their holdings of the company. nVerses Capital LLC acquired a new position in Green Dot during the 2nd quarter valued at about $25,000. Nisa Investment Advisors LLC lifted its holdings in shares of Green Dot by 162.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,602 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 1,609 shares in the last quarter. Headlands Technologies LLC raised its position in Green Dot by 89.2% in the 1st quarter. Headlands Technologies LLC now owns 2,743 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,293 shares during the last quarter. UMB Bank n.a. raised its position in Green Dot by 98.3% in the 1st quarter. UMB Bank n.a. now owns 2,855 shares of the financial services provider’s stock valued at $27,000 after buying an additional 1,415 shares during the last quarter. Finally, Quarry LP purchased a new position in Green Dot during the 2nd quarter worth $32,000. 92.56% of the stock is owned by institutional investors and hedge funds.

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.