Russell Investments Group Ltd. lessened its position in Green Dot Co. (NYSE:GDOT) by 18.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 239,671 shares of the financial services provider’s stock after selling 52,747 shares during the period. Russell Investments Group Ltd. owned 0.46% of Green Dot worth $21,251,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. James Investment Research Inc. bought a new stake in shares of Green Dot in the 2nd quarter valued at about $101,000. Bank of Montreal Can bought a new stake in shares of Green Dot in the 2nd quarter valued at about $165,000. Everence Capital Management Inc. bought a new stake in shares of Green Dot in the 2nd quarter valued at about $228,000. Adviser Investments LLC grew its position in shares of Green Dot by 361.8% in the 2nd quarter. Adviser Investments LLC now owns 3,450 shares of the financial services provider’s stock valued at $253,000 after buying an additional 2,703 shares during the last quarter. Finally, Cynosure Advisors LLC bought a new stake in shares of Green Dot in the 2nd quarter valued at about $280,000. 84.62% of the stock is owned by institutional investors and hedge funds.
In related news, COO Kuan Archer sold 9,589 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $83.47, for a total transaction of $800,393.83. Following the transaction, the chief operating officer now directly owns 233,024 shares of the company’s stock, valued at approximately $19,450,513.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mark L. Shifke sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $83.16, for a total value of $831,600.00. Following the transaction, the chief financial officer now directly owns 661,574 shares in the company, valued at $55,016,493.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 386,922 shares of company stock worth $31,744,662. 9.70% of the stock is owned by corporate insiders.
Shares of Green Dot stock opened at $80.46 on Wednesday. Green Dot Co. has a one year low of $54.08 and a one year high of $91.51. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $4.14 billion, a P/E ratio of 50.92 and a beta of 1.06.
Green Dot (NYSE:GDOT) last announced its earnings results on Wednesday, August 8th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.63 by $0.11. Green Dot had a return on equity of 14.26% and a net margin of 12.73%. The company had revenue of $258.30 million for the quarter, compared to analyst estimates of $250.18 million. During the same quarter in the prior year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities research analysts expect that Green Dot Co. will post 2.4 earnings per share for the current fiscal year.
A number of research firms have commented on GDOT. ValuEngine lowered Green Dot from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 1st. SunTrust Banks upped their price target on Green Dot to $100.00 and gave the company a “buy” rating in a research report on Thursday, August 9th. Citigroup upped their price target on Green Dot from $77.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, August 9th. Morgan Stanley upped their price target on Green Dot from $67.00 to $73.00 and gave the company a “$81.43” rating in a research report on Thursday, July 19th. Finally, Craig Hallum reiterated a “buy” rating on shares of Green Dot in a research report on Friday, September 14th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $83.00.
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About Green Dot
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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