Green Dot Co. (GDOT) Sees Significant Decline in Short Interest

Green Dot Co. (NYSE:GDOT) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 971,891 shares, a drop of 36.3% from the November 15th total of 1,526,412 shares. Based on an average trading volume of 455,256 shares, the short-interest ratio is currently 2.1 days. Approximately 2.1% of the company’s shares are short sold.

In other Green Dot news, insider Steven W. Streit sold 20,490 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $59.96, for a total transaction of $1,228,580.40. Following the completion of the transaction, the insider now owns 176,621 shares in the company, valued at approximately $10,590,195.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jess Unruh sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $60.00, for a total transaction of $780,000.00. Following the transaction, the insider now owns 108,788 shares of the company’s stock, valued at approximately $6,527,280. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 287,541 shares of company stock valued at $17,415,786. Company insiders own 11.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in GDOT. Daiwa Securities Group Inc. purchased a new position in Green Dot in the 2nd quarter valued at about $108,000. Sei Investments Co. lifted its holdings in Green Dot by 5,956.4% in the 2nd quarter. Sei Investments Co. now owns 19,017 shares of the financial services provider’s stock valued at $733,000 after purchasing an additional 18,703 shares in the last quarter. IFP Advisors Inc lifted its holdings in Green Dot by 5,537.3% in the 2nd quarter. IFP Advisors Inc now owns 2,875 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 2,824 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Green Dot by 8.2% during the 2nd quarter. Legal & General Group Plc now owns 84,898 shares of the financial services provider’s stock worth $3,270,000 after acquiring an additional 6,450 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Green Dot by 6.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 16,024 shares of the financial services provider’s stock worth $617,000 after acquiring an additional 977 shares during the period. Institutional investors own 79.15% of the company’s stock.

Several research analysts have commented on the stock. BidaskClub cut shares of Green Dot from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 14th. Zacks Investment Research downgraded shares of Green Dot from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine downgraded shares of Green Dot from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Citigroup upped their price target on shares of Green Dot from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Monday, September 18th. Finally, Deutsche Bank upped their price target on shares of Green Dot from $42.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday, November 8th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $55.31.

Green Dot (NYSE:GDOT) traded up $0.78 during trading hours on Thursday, hitting $61.44. 168,463 shares of the stock were exchanged, compared to its average volume of 347,743. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.96 and a current ratio of 0.96. Green Dot has a fifty-two week low of $24.59 and a fifty-two week high of $65.88. The firm has a market cap of $3,120.00, a PE ratio of 44.52 and a beta of 0.95.

Green Dot (NYSE:GDOT) last issued its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.14. The firm had revenue of $201.60 million for the quarter, compared to analysts’ expectations of $191.33 million. Green Dot had a net margin of 8.61% and a return on equity of 12.55%. The firm’s revenue was up 30.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 EPS. analysts forecast that Green Dot will post 1.71 EPS for the current year.

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About Green Dot

Green Dot Corporation (Green Dot) 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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