Short Interest in Green Dot Co. (NYSE:GDOT) Drops By 9.5%

Green Dot Co. (NYSE:GDOT) was the recipient of a large decrease in short interest in June. As of June 15th, there was short interest totalling 1,530,000 shares, a decrease of 9.5% from the May 31st total of 1,690,000 shares. Approximately 3.0% of the company’s shares are short sold. Based on an average daily trading volume, of 517,700 shares, the days-to-cover ratio is presently 3.0 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC boosted its holdings in Green Dot by 89.2% during the first quarter. Headlands Technologies LLC now owns 2,743 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,293 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of 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 acquiring an additional 1,415 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Green Dot in the fourth quarter valued at about $53,000. Allspring Global Investments Holdings LLC raised its holdings in Green Dot by 39.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 7,352 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 2,074 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Green Dot by 65.5% during the third quarter. PNC Financial Services Group Inc. now owns 6,152 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 2,434 shares during the last quarter. 92.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods lowered their target price on Green Dot from $12.50 to $11.00 and set a “market perform” rating for the company in a research note on Friday, April 5th. StockNews.com upgraded Green Dot from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. One equities 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.75.

Green Dot Stock Performance

NYSE:GDOT traded down $0.05 during mid-day trading on Wednesday, hitting $9.44. The company had a trading volume of 220,108 shares, compared to its average volume of 635,714. The firm has a market cap of $502.30 million, a P/E ratio of -20.09 and a beta of 0.96. Green Dot has a fifty-two week low of $7.30 and a fifty-two week high of $21.37. The business’s fifty day moving average is $9.60 and its two-hundred day moving average is $9.14.

Green Dot (NYSE:GDOT) last issued its quarterly earnings data on Thursday, May 9th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.15). The firm had revenue of $447.42 million for the quarter, compared to analyst estimates of $415.70 million. Green Dot had a negative net margin of 1.60% and a positive return on equity of 4.48%. Equities analysts forecast that Green Dot will post 1.03 earnings per share for the current year.

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.