Vident Investment Advisory LLC reduced its stake in Green Dot Co. (NYSE:GDOT) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,999 shares of the financial services provider’s stock after selling 409 shares during the period. Vident Investment Advisory LLC’s holdings in Green Dot were worth $1,696,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of GDOT. Elkfork Partners LLC purchased a new position in shares of Green Dot during the fourth quarter valued at $103,000. Smith Asset Management Group LP purchased a new position in shares of Green Dot during the third quarter valued at $175,000. Municipal Employees Retirement System of Michigan raised its position in shares of Green Dot by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 9,600 shares of the financial services provider’s stock valued at $221,000 after buying an additional 170 shares during the period. SG Americas Securities LLC purchased a new position in shares of Green Dot during the third quarter valued at $266,000. Finally, Royal Bank of Canada raised its position in shares of Green Dot by 17.1% in the second quarter. Royal Bank of Canada now owns 13,301 shares of the financial services provider’s stock valued at $305,000 after buying an additional 1,941 shares during the period. 77.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of Green Dot Co. (NYSE:GDOT) opened at 32.7671 on Monday. The firm has a market capitalization of $1.66 billion, a P/E ratio of 40.7551 and a beta of 1.18. The stock’s 50 day moving average price is $28.52 and its 200 day moving average price is $24.87. Green Dot Co. has a 52 week low of $20.79 and a 52 week high of $33.64.
Green Dot (NYSE:GDOT) last issued its earnings results on Wednesday, February 22nd. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The company earned $162.77 million during the quarter, compared to analyst estimates of $156.30 million. Green Dot had a net margin of 5.22% and a return on equity of 7.76%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. On average, analysts predict that Green Dot Co. will post $1.92 EPS for the current fiscal year.
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Several analysts recently issued reports on GDOT shares. Citigroup Inc increased their price target on Green Dot to $32.00 in a report on Thursday, February 23rd. TheStreet upgraded Green Dot from a “c+” rating to a “b-” rating in a report on Thursday, February 2nd. Loop Capital started coverage on Green Dot in a report on Tuesday, January 10th. They issued a “buy” rating and a $31.00 price target for the company. Guggenheim started coverage on Green Dot in a report on Wednesday, January 4th. They issued a “buy” rating and a $28.00 price target for the company. Finally, SunTrust Banks, Inc. upgraded Green Dot from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Tuesday, March 14th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $29.82.
In other Green Dot news, COO Kuan Archer sold 12,300 shares of Green Dot stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $29.65, for a total transaction of $364,695.00. Following the completion of the sale, the chief operating officer now owns 99,257 shares of the company’s stock, valued at approximately $2,942,970.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark L. Shifke sold 5,000 shares of Green Dot stock in a transaction on Thursday, January 12th. The shares were sold at an average price of $24.80, for a total transaction of $124,000.00. Following the sale, the chief financial officer now directly owns 785,366 shares of the company’s stock, valued at approximately $19,477,076.80. The disclosure for this sale can be found here. Insiders have sold a total of 39,396 shares of company stock valued at $1,098,426 in the last three months. Company insiders own 11.00% of the company’s stock.
Green Dot Company Profile
Green Dot Corporation, along with its subsidiaries, is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.
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