Rhumbline Advisers raised its holdings in shares of Green Dot Co. (NYSE:GDOT) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,340 shares of the financial services provider’s stock after buying an additional 3,000 shares during the period. Rhumbline Advisers owned about 0.21% of Green Dot worth $6,887,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in GDOT. LS Investment Advisors LLC increased its holdings in Green Dot by 70.4% during the fourth quarter. LS Investment Advisors LLC now owns 2,618 shares of the financial services provider’s stock valued at $158,000 after buying an additional 1,082 shares during the last quarter. Globeflex Capital L P purchased a new stake in shares of Green Dot in the fourth quarter worth $185,000. Verition Fund Management LLC purchased a new stake in shares of Green Dot in the fourth quarter worth $216,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Green Dot in the fourth quarter worth $231,000. Finally, Bfsg LLC increased its stake in shares of Green Dot by 17.2% in the fourth quarter. Bfsg LLC now owns 5,731 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 840 shares in the last quarter. 82.20% of the stock is owned by institutional investors and hedge funds.
In other Green Dot news, insider Steven W. Streit sold 39,895 shares of the stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $62.42, for a total transaction of $2,490,245.90. Following the completion of the transaction, the insider now owns 285,958 shares in the company, valued at $17,849,498.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven W. Streit sold 11,523 shares of the stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $60.22, for a total transaction of $693,915.06. Following the transaction, the chief executive officer now owns 206,655 shares of the company’s stock, valued at approximately $12,444,764.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 420,144 shares of company stock valued at $27,019,303. 11.00% of the stock is owned by company insiders.
Shares of Green Dot opened at $71.43 on Friday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.05 and a quick ratio of 1.05. Green Dot Co. has a fifty-two week low of $35.66 and a fifty-two week high of $74.23. The firm has a market cap of $3.75 billion, a P/E ratio of 45.21 and a beta of 0.76.
Green Dot (NYSE:GDOT) last issued its earnings results on Wednesday, May 9th. The financial services provider reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.11. Green Dot had a net margin of 12.10% and a return on equity of 14.21%. The firm had revenue of $315.00 million during the quarter, compared to analyst estimates of $297.25 million. During the same quarter in the prior year, the business earned $1.00 earnings per share. Green Dot’s revenue for the quarter was up 24.5% on a year-over-year basis. research analysts anticipate that Green Dot Co. will post 2.35 earnings per share for the current year.
GDOT has been the subject of a number of analyst reports. Citigroup increased their price objective on shares of Green Dot from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Craig Hallum reissued a “buy” rating and issued a $75.00 price objective (up from $70.00) on shares of Green Dot in a research note on Thursday, February 22nd. ValuEngine raised shares of Green Dot from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research raised shares of Green Dot from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Tuesday, February 27th. Finally, Guggenheim reissued a “buy” rating and issued a $76.00 price objective on shares of Green Dot in a research note on Monday, February 26th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $63.64.
Green Dot Profile
Green Dot Corporation, together with its subsidiaries, operates as a pro-consumer bank holding company that provides personal banking for the masses. It operates through two segments, Account Services and Processing, and Settlement Services. The company offers deposit as account programs, such reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer checking accounts, small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.
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