Investment Management of Virginia LLC raised its holdings in Green Dot Co. (NYSE:GDOT) by 46.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 80,345 shares of the financial services provider’s stock after purchasing an additional 25,603 shares during the quarter. Investment Management of Virginia LLC owned 0.16% of Green Dot worth $2,029,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the business. Cutler Group LP bought a new position in shares of Green Dot in the 2nd quarter valued at $29,000. FNY Investment Advisers LLC bought a new position in shares of Green Dot in the 3rd quarter valued at $25,000. Neo Ivy Capital Management bought a new position in shares of Green Dot in the 2nd quarter valued at $63,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Green Dot by 38.1% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,346 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 371 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in shares of Green Dot in the 2nd quarter valued at $68,000. 85.02% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CRO Brett Narlinger sold 5,602 shares of Green Dot stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $28.32, for a total value of $158,648.64. Following the completion of the transaction, the executive now directly owns 71,624 shares of the company’s stock, valued at approximately $2,028,391.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 7.80% of the stock is owned by company insiders.
NYSE:GDOT traded up $0.33 during trading hours on Monday, hitting $24.87. 45,068 shares of the company were exchanged, compared to its average volume of 791,148. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 9.83 and a beta of 1.11. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.03. Green Dot Co. has a one year low of $22.45 and a one year high of $92.87. The company has a fifty day simple moving average of $25.66 and a 200 day simple moving average of $40.05.
Green Dot (NYSE:GDOT) last announced its earnings results on Thursday, November 7th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.32. The business had revenue of $240.40 million during the quarter, compared to analyst estimates of $232.94 million. Green Dot had a return on equity of 16.77% and a net margin of 10.81%. Green Dot’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.59 EPS. Equities research analysts predict that Green Dot Co. will post 2.18 earnings per share for the current fiscal year.
GDOT has been the subject of a number of research reports. TheStreet cut Green Dot from a “b-” rating to a “c+” rating in a research note on Thursday, August 8th. Guggenheim cut Green Dot from a “buy” rating to a “neutral” rating in a research note on Monday. Jefferies Financial Group cut Green Dot from a “buy” rating to a “hold” rating and dropped their price target for the company from $62.00 to $32.00 in a research note on Thursday, September 5th. Zacks Investment Research upgraded Green Dot from a “sell” rating to a “hold” rating and set a $29.00 price target for the company in a research note on Tuesday, August 13th. Finally, Keefe, Bruyette & Woods cut Green Dot from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $60.00 to $35.00 in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Green Dot currently has a consensus rating of “Hold” and a consensus target price of $42.83.
Green Dot Company Profile
Green Dot Corporation operates as a financial technology and bank holding company in the United States. It operates in two segments, Account Services, and Processing and Settlement Services. The company offers deposit account programs, such network-branded reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer and small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.
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