5 Best Depressed Stocks To Buy Now

2. Green Dot Corporation (NYSE:GDOT)

Number of Hedge Fund Holders: 17

Green Dot Corporation (NYSE:GDOT) provides various financial services to individuals and businesses in the United States and operates through three main segments: Consumer Services, Business to Business Services, and Money Movement Services. As a financial technology and bank holding company, Green Dot offers a diverse range of financial solutions to its customers. The stock price of Green Dot Corporation (NYSE:GDOT) peaked at $30.29 and a low of $15.00 over the past 52 weeks. At present, the stock price is -93.67% lower than its 52-week high and 4.09% higher than its 52-week low. In addition, shares of the company rallied -39.80% in the last 12 months. Green Dot Corporation (NYSE:GDOT) has a ‘Strong Buy’ consensus rating, which is derived from three buy ratings, one hold rating, and zero sell ratings.

Green Dot Corporation (NYSE:GDOT) has experienced a boost in its market presence thanks to its collaboration with Walmart Inc. (NYSE:WMT) and the adoption of its Banking as a Service (BaaS) platform. GDOT recently released its Q4 2022 earnings report, which showed strong earnings and revenues that surpassed the estimated figures. The company’s non-GAAP earnings per share of 34 cents exceeded the consensus estimate by 54.6% and increased by 25.9% YoY, while its non-GAAP operating revenues of $336.6 million surpassed the estimated figures by 5.1% and increased by 1.8% YoY. GDOT’s long-standing partnership with Walmart has played a significant role in driving its operating revenues, as it has been supplying Walmart-branded GPS cards since the Walmart MoneyCard program’s launch in 2007.

Green Dot Corporation (NYSE:GDOT) has experienced a decrease in hedge fund interest recently. Green Dot Corporation (NYSE:GDOT) was in 17 hedge funds’ portfolios at the end of the fourth quarter of 2022, down from 22 funds a quarter earlier. Jeffrey Smith’s Starboard Value LP is Green Dot Corporation (NYSE:GDOT)’s largest shareholder, with shares worth $83.75 million.