Amalgamated Bank Boosts Stock Position in Green Dot Co. (NYSE:GDOT)

Amalgamated Bank grew its stake in Green Dot Co. (NYSE:GDOT) by 14.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,607 shares of the financial services provider’s stock after purchasing an additional 1,920 shares during the period. Amalgamated Bank’s holdings in Green Dot were worth $183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue lifted its holdings in Green Dot by 14.1% in the third quarter. State of Alaska Department of Revenue now owns 30,650 shares of the financial services provider’s stock valued at $358,000 after acquiring an additional 3,783 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Green Dot by 13.0% in the third quarter. Louisiana State Employees Retirement System now owns 26,000 shares of the financial services provider’s stock valued at $304,000 after acquiring an additional 3,000 shares during the last quarter. Griffin Asset Management Inc. acquired a new position in Green Dot in the third quarter valued at approximately $232,000. SG Americas Securities LLC lifted its holdings in Green Dot by 118.8% in the third quarter. SG Americas Securities LLC now owns 25,687 shares of the financial services provider’s stock valued at $301,000 after acquiring an additional 13,948 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Green Dot by 7.3% in the second quarter. Point72 Asset Management L.P. now owns 21,130 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 1,430 shares during the last quarter. 92.56% of the stock is currently owned by hedge funds and other institutional investors.

Green Dot Stock Performance

Shares of GDOT stock opened at $11.13 on Monday. The stock’s 50-day moving average is $11.54 and its two-hundred day moving average is $10.46. The firm has a market cap of $597.79 million, a price-to-earnings ratio of -10.60 and a beta of 0.91. Green Dot Co. has a 1 year low of $7.70 and a 1 year high of $13.58. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 0.52.

Analyst Ratings Changes

A number of research analysts have commented on the company. Keefe, Bruyette & Woods restated a “market perform” rating and set a $11.00 price target on shares of Green Dot in a research note on Monday, July 22nd. Barclays upped their price target on Green Dot from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Monday, September 23rd. Finally, Craig Hallum increased their price objective on Green Dot from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.75.

Insiders Place Their Bets

In related news, major shareholder Topline Capital Partners, Lp purchased 135,123 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were purchased at an average price of $10.94 per share, with a total value of $1,478,245.62. Following the completion of the acquisition, the insider now directly owns 6,292,788 shares in the company, valued at $68,843,100.72. This represents a 2.19 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Topline Capital Management, Ll purchased 36,671 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were bought at an average cost of $12.49 per share, for a total transaction of $458,020.79. Following the acquisition, the insider now owns 5,995,422 shares of the company’s stock, valued at approximately $74,882,820.78. The trade was a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 334,037 shares of company stock valued at $3,862,091. 1.10% of the stock is currently owned by insiders.

Green Dot Company Profile

Green Dot Corporation, a financial technology and registered bank holding company, provides various financial services to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services. The company provides deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.