The stock of Green Dot Corporation (NYSE:GDOT) hit a new 52-week high and has $34.28 target or 41.00% above today’s $24.31 share price. The 8 months bullish chart indicates low risk for the $1.22B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $34.28 price target is reached, the company will be worth $500.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 59,010 shares traded hands. Green Dot Corporation (NYSE:GDOT) has risen 11.77% since April 19, 2016 and is uptrending. It has outperformed by 7.91% the S&P500.
Green Dot Corporation (NYSE:GDOT) Ratings Coverage
Out of 7 analysts covering Green Dot (NYSE:GDOT), 0 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 0 are positive. Green Dot has been the topic of 14 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock has “Market Perform” rating given by Cowen & Co on Wednesday, September 30. The stock of Green Dot Corporation (NYSE:GDOT) has “Neutral” rating given on Wednesday, August 5 by Compass Point. BTIG Research downgraded the stock to “Neutral” rating in Friday, November 6 report. JP Morgan maintained it with “Neutral” rating and $21 target price in Friday, August 14 report. The firm has “Hold” rating given on Thursday, February 25 by Deutsche Bank. Compass Point maintained Green Dot Corporation (NYSE:GDOT) rating on Thursday, February 25. Compass Point has “Neutral” rating and $22 price target. The stock of Green Dot Corporation (NYSE:GDOT) has “” rating given on Friday, November 6 by Deutsche Bank. BTIG Research upgraded the shares of GDOT in a report on Tuesday, February 16 to “Buy” rating. As per Tuesday, August 25, the company rating was upgraded by Portales Partners. BTIG Research downgraded it to “Neutral” rating and $43 target price in Friday, March 18 report.
According to Zacks Investment Research, “Green Dot Corporation is a technology-centric, pro-consumer Bank Holding Company with a mission to reinvent personal banking for the masses. The company is the largest provider of prepaid debit card products and prepaid card reloading services in the United States, as well as a leader in mobile banking with its GoBank mobile bank account offering. Green Dot Corporation products are available to consumers at more than 80,000 retailers nationwide, online and via the leading app stores. The company is headquartered in Pasadena, California with its bank subsidiary, Green Dot Bank, located in Provo, Utah.”
Insitutional Activity: The institutional sentiment increased to 1.15 in Q2 2016. Its up 0.39, from 0.76 in 2016Q1. The ratio increased, as 19 funds sold all Green Dot Corporation shares owned while 64 reduced positions. 22 funds bought stakes while 41 increased positions. They now own 36.30 million shares or 7.10% less from 39.07 million shares in 2016Q1.
Paloma Prns Mngmt holds 0% of its portfolio in Green Dot Corporation (NYSE:GDOT) for 14,221 shares. Louisiana State Employees Retirement System accumulated 0.02% or 19,200 shares. American Grp Incorporated, a New York-based fund reported 31,856 shares. Schroder Invest Mgmt Group reported 1,700 shares or 0% of all its holdings. Susquehanna Grp Incorporated Llp last reported 0% of its portfolio in the stock. Hbk Limited Partnership, a Texas-based fund reported 73,704 shares. Prudential Fincl Inc accumulated 0% or 110,914 shares. Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in the company for 1,109 shares. Peak6 Limited Partnership last reported 0% of its portfolio in the stock. Moreover, Deutsche Bancshares Ag has 0.01% invested in Green Dot Corporation (NYSE:GDOT) for 429,991 shares. Ny State Common Retirement Fund accumulated 69,708 shares or 0% of the stock. California Pub Employees Retirement Sys has invested 0% of its portfolio in Green Dot Corporation (NYSE:GDOT). Barclays Public Ltd has 1,780 shares for 0% of their US portfolio. Airain Limited last reported 0.02% of its portfolio in the stock. Arizona State Retirement System owns 22,493 shares or 0.01% of their US portfolio.
Insider Transactions: Since August 24, 2016, the stock had 0 insider buys, and 7 insider sales for $1.86 million net activity. Shares for $113,850 were sold by Shifke Mark L. $385,309 worth of Green Dot Corporation (NYSE:GDOT) shares were sold by Ricci John C. Another trade for 6,500 shares valued at $151,766 was sold by Bridgforth-Hodges Glinda. $283,819 worth of Green Dot Corporation (NYSE:GDOT) shares were sold by Archer Kuan. On Saturday, October 1 the insider Sgoutas Konstantinos sold $695,200.
More notable recent Green Dot Corporation (NYSE:GDOT) news were published by: Latimes.com which released: “Investor wants prepaid debit firm Green Dot to dump its CEO” on January 25, 2016, also Businesswire.com with their article: “Director Michael Moritz Issues Letter to Green Dot Shareholders” published on May 16, 2016, Latimes.com published: “Green Dot apologizes for card outage as CEO survives a bid to oust him” on May 24, 2016. More interesting news about Green Dot Corporation (NYSE:GDOT) were released by: Businesswire.com and their article: “Green Dot Corporation Names Mark Shifke as Chief Financial Officer” published on December 16, 2015 as well as Businesswire.com‘s news article titled: “Green Dot Successfully Completes Next Wave of Its Processor Migration Project” with publication date: March 31, 2016.
GDOT Company Profile
Green Dot Corporation (Green Dot), incorporated on October 26, 1999, along with its subsidiaries, is a pro-consumer financial technology innovator. The Firm is a well-known provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Firm operates through two divisions: Account Services, and Processing and Settlement Services. It also has activities in the mobile technology and mobile banking with GoBank mobile checking account. Through its subsidiary, SBBT Holdings, LLC (TPG), it also operates as a processor of tax refund disbursements in the United States. The Company’s services and products are available to clients through a branchless bank distribution network of over 100,000 the United States retail locations, various neighborhood financial service center locations, online, in the application stores, through approximately 25,000 tax preparation offices, and online tax preparation providers. The Firm offers its services and products to five consumer divisions: unbanked, underbanked, unhappily banked, new to banking and millennials.
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