State Board of Administration of Florida Retirement System Has $1.34 Million Position in Green Dot Corporation (GDOT)
State Board of Administration of Florida Retirement System lifted its position in shares of Green Dot Corporation (NYSE:GDOT) by 21.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,706 shares of the financial services provider’s stock after buying an additional 6,055 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.07% of Green Dot Corporation worth $1,337,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. purchased a new position in shares of Green Dot Corporation during the 2nd quarter valued at $108,000. IFP Advisors Inc lifted its stake in shares of Green Dot Corporation by 5,537.3% during the 2nd quarter. IFP Advisors Inc now owns 2,875 shares of the financial services provider’s stock valued at $111,000 after buying an additional 2,824 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Green Dot Corporation during the 1st quarter valued at $118,000. Turner Investments LLC purchased a new position in shares of Green Dot Corporation during the 2nd quarter valued at $154,000. Finally, Asset Management One Co. Ltd. purchased a new position in shares of Green Dot Corporation during the 1st quarter valued at $162,000. Institutional investors own 77.43% of the company’s stock.
Shares of Green Dot Corporation (NYSE:GDOT) opened at 46.92 on Monday. The firm has a 50-day moving average of $45.49 and a 200 day moving average of $38.15. Green Dot Corporation has a 52 week low of $21.45 and a 52 week high of $48.66. The stock has a market cap of $2.37 billion, a PE ratio of 39.90 and a beta of 1.01.
Green Dot Corporation (NYSE:GDOT) last announced its earnings results on Tuesday, August 8th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.16. Green Dot Corporation had a net margin of 7.66% and a return on equity of 12.13%. The business had revenue of $222.50 million for the quarter, compared to analyst estimates of $208.59 million. During the same quarter last year, the business earned $0.27 earnings per share. The company’s revenue for the quarter was up 28.2% compared to the same quarter last year. On average, equities analysts forecast that Green Dot Corporation will post $2.05 EPS for the current fiscal year.
In other news, Director Kenneth C. Aldrich sold 10,000 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $40.01, for a total value of $400,100.00. Following the transaction, the director now directly owns 20,142 shares of the company’s stock, valued at $805,881.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Glinda Bridgforth-Hodges sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $46.92, for a total transaction of $351,900.00. Following the completion of the transaction, the director now directly owns 5,003 shares in the company, valued at $234,740.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 132,166 shares of company stock worth $5,918,805. Company insiders own 11.00% of the company’s stock.
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A number of research analysts recently weighed in on the stock. BidaskClub cut shares of Green Dot Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday. ValuEngine upgraded shares of Green Dot Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Green Dot Corporation from a “hold” rating to a “strong-buy” rating and set a $52.00 target price on the stock in a research note on Monday, August 14th. Cowen and Company restated a “hold” rating on shares of Green Dot Corporation in a research note on Thursday, August 10th. Finally, Deutsche Bank AG lifted their target price on shares of Green Dot Corporation from $37.00 to $42.00 and gave the company a “hold” rating in a research note on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Green Dot Corporation has a consensus rating of “Buy” and an average target price of $41.33.
Green Dot Corporation Profile
Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.
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