Sawgrass Asset Management LLC Has $1.48 Million Position in Green Dot Corporation (GDOT)
Sawgrass Asset Management LLC increased its stake in shares of Green Dot Corporation (NYSE:GDOT) by 70.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,340 shares of the financial services provider’s stock after acquiring an additional 15,850 shares during the period. Sawgrass Asset Management LLC owned about 0.08% of Green Dot Corporation worth $1,477,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. bought a new stake in Green Dot Corporation during the second quarter worth about $108,000. IFP Advisors Inc raised its holdings in Green Dot Corporation by 5,537.3% during the second quarter. IFP Advisors Inc now owns 2,875 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 2,824 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in Green Dot Corporation during the first quarter worth about $118,000. Turner Investments LLC bought a new stake in Green Dot Corporation during the second quarter worth about $154,000. Finally, Riverhead Capital Management LLC raised its holdings in Green Dot Corporation by 55.0% during the second quarter. Riverhead Capital Management LLC now owns 4,029 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 1,429 shares in the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.
Several analysts recently issued reports on the company. Zacks Investment Research lowered Green Dot Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 17th. BidaskClub downgraded Green Dot Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 14th. Citigroup Inc. boosted their price target on Green Dot Corporation from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday. Lake Street Capital raised Green Dot Corporation from a “hold” rating to a “buy” rating and boosted their price target for the stock from $41.00 to $44.00 in a research report on Wednesday, August 9th. Finally, William Blair raised Green Dot Corporation from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 9th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $42.22.
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In related news, General Counsel John C. Ricci sold 20,707 shares of Green Dot Corporation stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $47.21, for a total value of $977,577.47. Following the completion of the transaction, the general counsel now directly owns 91,163 shares in the company, valued at approximately $4,303,805.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Glinda Bridgforth-Hodges sold 7,500 shares of Green Dot Corporation stock in a transaction that occurred on Wednesday, August 16th. The shares were 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 owns 5,003 shares of the company’s stock, valued at $234,740.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,161 shares of company stock valued at $6,307,042. 11.00% of the stock is currently owned by company insiders.
Green Dot Corporation (NYSE GDOT) traded up 0.39% during trading on Friday, hitting $48.59. The stock had a trading volume of 69,502 shares. The firm has a 50 day moving average price of $45.96 and a 200-day moving average price of $38.55. The firm has a market capitalization of $2.45 billion, a PE ratio of 41.32 and a beta of 1.01. Green Dot Corporation has a 1-year low of $21.45 and a 1-year high of $49.00.
Green Dot Corporation (NYSE:GDOT) last issued its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping 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 company had revenue of $222.50 million during the quarter, compared to analyst estimates of $208.59 million. During the same quarter last year, the business posted $0.27 EPS. Green Dot Corporation’s quarterly revenue was up 28.2% compared to the same quarter last year. On average, equities research analysts expect that Green Dot Corporation will post $2.05 EPS for the current year.
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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