First Trust Advisors LP Decreases Position in Green Dot Corporation (GDOT)
First Trust Advisors LP cut its position in shares of Green Dot Corporation (NYSE:GDOT) by 84.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,353 shares of the financial services provider’s stock after selling 66,932 shares during the quarter. First Trust Advisors LP’s holdings in Green Dot Corporation were worth $476,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. bought a new position in Green Dot Corporation in the second quarter valued at approximately $108,000. IFP Advisors Inc grew its stake in Green Dot Corporation by 5,537.3% in the second quarter. IFP Advisors Inc now owns 2,875 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 2,824 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in Green Dot Corporation in the first quarter valued at approximately $118,000. Asset Management One Co. Ltd. bought a new position in Green Dot Corporation in the first quarter valued at approximately $162,000. Finally, Suntrust Banks Inc. bought a new position in Green Dot Corporation in the first quarter valued at approximately $238,000. Institutional investors and hedge funds own 77.43% of the company’s stock.
In other news, insider Steven W. Streit sold 7,995 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $48.56, for a total value of $388,237.20. Following the completion of the transaction, the insider now directly owns 217,010 shares of the company’s stock, valued at $10,538,005.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth C. Aldrich sold 10,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $48.28, for a total value of $482,800.00. Following the completion of the transaction, the director now directly owns 20,563 shares of the company’s stock, valued at $992,781.64. The disclosure for this sale can be found here. Insiders sold 140,161 shares of company stock valued at $6,307,042 over the last ninety days. Corporate insiders own 11.00% of the company’s stock.
A number of research analysts have weighed in on GDOT shares. Citigroup Inc. restated a “buy” rating and issued a $46.00 price target (up from $40.00) on shares of Green Dot Corporation in a research note on Monday, July 24th. BidaskClub downgraded Green Dot Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Deutsche Bank AG raised their price target on Green Dot Corporation from $37.00 to $42.00 and gave the company a “hold” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Green Dot Corporation from a “hold” rating to a “strong-buy” rating and set a $52.00 price target for the company in a research note on Monday, August 14th. Finally, Lake Street Capital started coverage on Green Dot Corporation in a research note on Monday, June 26th. They issued a “hold” rating and a $41.00 price target for the company. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $42.22.
Green Dot Corporation (NYSE:GDOT) opened at 47.78 on Tuesday. The firm has a 50-day moving average price of $45.96 and a 200 day moving average price of $38.55. Green Dot Corporation has a one year low of $21.45 and a one year high of $49.00. The firm has a market capitalization of $2.41 billion, a PE ratio of 40.63 and a beta of 1.01.
Green Dot Corporation (NYSE:GDOT) last posted its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.16. Green Dot Corporation had a return on equity of 12.13% and a net margin of 7.66%. The firm had revenue of $222.50 million during the quarter, compared to analyst estimates of $208.59 million. During the same period last year, the company earned $0.27 earnings per share. The business’s revenue for the quarter was up 28.2% on a year-over-year basis. Analysts anticipate that Green Dot Corporation will post $2.05 EPS for the current fiscal year.
About Green Dot Corporation
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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