QUOTE AND NEWS
Forbes  Dec 9  Comment 
Investors considering a purchase of Green Dot Corp (NYSE: GDOT) shares, but tentative about paying the going market price of $22.54/share, might benefit from considering selling puts among the alternative strategies at their disposal. One...
Benzinga  Oct 31  Comment 
Deutsche Bank reported on Green Dot Corporation (NYSE: GDOT) Q3 earnings Friday and maintained a Hold rating and $21 price target. The firm claimed that Wal-Mart Stores, Inc. (NYSE: WMT) "continues to drag down growth." “GDOT’s 3Q14...
Benzinga  Oct 30  Comment 
Green Dot Corporation (NYSE: GDOT) reported financial results Thursday for the third quarter ended September 30, 2014. The company reported growth of 6 percent year-over-year in non-GAAP total operating revenues to $146.8 million, below...
Benzinga  Oct 29  Comment 
In a report published Wednesday, Deutsche Bank analyst Ashish Sabadra reiterated a Hold rating and $21.00 price target on Green Dot Corporation (NYSE: GDOT). In the report, Deutsche Bank noted, “On its earnings call today after the close, TSS...
Benzinga  Oct 23  Comment 
Green Dot Corporation (NYSE: GDOT) announced today that it has completed the previously announced acquisition of Santa Barbara Tax Products Group (“TPG”). “We believe this transaction will provide meaningful earnings diversification and...
DailyFinance  Oct 9  Comment 
Filed under: Credit, Consumer Ally, Credit Cards, Consumer Protection, Ripoffs & Scams, Internet Fraud Alamy Prepaid cards that can be loaded with cash and used like debit cards are the new payment form of choice for scammers, replacing the...
TheStreet.com  Oct 6  Comment 
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link. aTheStreet Ratings quantitative algorithm...




 
TOP CONTRIBUTORS

Green Dot (GDOT) (NYSE: GDOT) sells prepaid debit cards through third party retailers such as Wal-Mart (WMT). The company provides the retailer with a commission of the sale of the debit cards in return for selling them. The cards are rechargeable and can be used anywhere that a Mastercard (MA) or Visa (V) is accepted. These cards have been used as a replacement for credit cards but without any fear of penalty fees, overdraft fees, or minimum balances.[1]

The company's initial public offering of stock filed on the NYSE and went public on 21 July 2010. It was priced at $36, above the initial price range of $32-$35. The major underwriters were J P Morgan Chase (JPM) and Morgan Stanley (MS). The company raised $164M by selling 4.56M shares [2]

Green Dot purposely kept the IPO small at under 4.6M shares because it did not need to raise money. The company had $102M in cash and does not have any debt on its books. The company did not want to dilute its shares, but instead wanted to gain liquidity for some of its prominent owners. This made the Green Dot shares relatively high in demand since fewer shares were sold than were in demand. The company issued 2.2M shares or 5.5% to Wal-Mart (WMT).[3]

The company's 2009 revenue was $234.8M which was a 40% increase from the $168.1M revenue from 2008. Net Income also rose by 118% in 2009 from $29.2M in 2008 to $63.7M. In 2009, a total of $4.7B was loaded onto Green Dot's debit cards, a 66% increase from 2008. This has made the company one of the leading providers of reloadable debit cards.[4]

I'm quite pleased with the inofmration in this one. TY!

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