Departure of Green Dot (GDOT) CFO is Non-Issue, Still an Undervalued Name

April 11, 2013 3:45 PM EDT
Get Alerts GDOT Hot Sheet
Price: $25.45 --0%

Rating Summary:
    10 Buy, 22 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 23 | Down: 31 | New: 34
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Green Dot (NYSE: GDOT) shares are slumping Thursday, but could today's dip be a buying opportunity?

According to BTIG's Mark Palmer it is. Palmer notes that the departure of CFO John Keatley is "benign" and that Green Dot's price doesn't reflect the company's "industry-leading position."

Current short interest on Green Dot is about 17 percent of float, or 3.47 million shares. After dipping as much as 10 percent at the start Thursday, the stock is now down just 0.7 percent.

Palmer has a Buy rating and $19 target on Green Dot.

For an analyst ratings summary and ratings history on Green Dot click here. For more ratings news on Green Dot click here.

Shares of Green Dot closed at $16.69 yesterday.

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