Green Dot Co. (NYSE:GDOT) Major Shareholder Buys $1,925,824.41 in Stock

Green Dot Co. (NYSE:GDOT) major shareholder Topline Capital Partners, Lp purchased 162,243 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were bought at an average price of $11.87 per share, for a total transaction of $1,925,824.41. Following the completion of the transaction, the insider now directly owns 6,157,665 shares in the company, valued at approximately $73,091,483.55. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Green Dot Price Performance

NYSE GDOT traded down $0.69 on Tuesday, hitting $11.02. 304,290 shares of the company were exchanged, compared to its average volume of 571,138. Green Dot Co. has a twelve month low of $7.30 and a twelve month high of $14.05. The company’s 50 day moving average price is $10.74 and its 200-day moving average price is $9.82. The firm has a market capitalization of $586.37 million, a P/E ratio of -23.45 and a beta of 0.91.

Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. The business had revenue of $407.10 million during the quarter, compared to the consensus estimate of $381.87 million. Green Dot had a negative net margin of 3.41% and a positive return on equity of 4.01%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 EPS. As a group, equities analysts expect that Green Dot Co. will post 1 EPS for the current year.

Institutional Investors Weigh In On Green Dot

Several hedge funds have recently bought and sold shares of GDOT. Point72 Asset Management L.P. boosted its holdings in shares of Green Dot by 7.3% during the second quarter. Point72 Asset Management L.P. now owns 21,130 shares of the financial services provider’s stock worth $200,000 after purchasing an additional 1,430 shares during the period. Quarry LP acquired a new position in shares of Green Dot in the second quarter worth $32,000. Algert Global LLC raised its holdings in shares of Green Dot by 4.0% during the second quarter. Algert Global LLC now owns 125,524 shares of the financial services provider’s stock worth $1,186,000 after acquiring an additional 4,774 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Green Dot by 12.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,125 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 2,331 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in Green Dot in the 2nd quarter worth about $232,000. 92.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GDOT has been the subject of a number of research reports. Barclays increased their price target on Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $11.00 price target on shares of Green Dot in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Green Dot has a consensus rating of “Hold” and an average target price of $11.50.

About Green Dot

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.