First Trust Advisors LP Has $392,000 Position in Green Dot Co. (GDOT)
First Trust Advisors LP reduced its stake in Green Dot Co. (NYSE:GDOT) by 36.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,901 shares of the financial services provider’s stock after selling 4,452 shares during the period. First Trust Advisors LP’s holdings in Green Dot were worth $392,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. BlackRock Inc. increased its stake in Green Dot by 0.7% in the second quarter. BlackRock Inc. now owns 5,348,171 shares of the financial services provider’s stock valued at $206,067,000 after purchasing an additional 38,814 shares in the last quarter. State Street Corp increased its stake in Green Dot by 5.7% in the second quarter. State Street Corp now owns 1,056,391 shares of the financial services provider’s stock valued at $40,704,000 after purchasing an additional 57,343 shares in the last quarter. Renaissance Technologies LLC increased its stake in Green Dot by 57.4% in the second quarter. Renaissance Technologies LLC now owns 821,842 shares of the financial services provider’s stock valued at $31,666,000 after purchasing an additional 299,842 shares in the last quarter. Northern Trust Corp increased its stake in Green Dot by 11.0% in the second quarter. Northern Trust Corp now owns 602,435 shares of the financial services provider’s stock valued at $23,212,000 after purchasing an additional 59,905 shares in the last quarter. Finally, Castleark Management LLC increased its stake in Green Dot by 34.7% in the second quarter. Castleark Management LLC now owns 494,144 shares of the financial services provider’s stock valued at $19,039,000 after purchasing an additional 127,199 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.
Green Dot Co. (GDOT) opened at $61.21 on Monday. Green Dot Co. has a twelve month low of $23.39 and a twelve month high of $65.88. The firm has a market cap of $3,110.69, a PE ratio of 35.79 and a beta of 0.96. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.09.
Green Dot (NYSE:GDOT) last released its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.14. Green Dot had a net margin of 8.61% and a return on equity of 12.55%. The business had revenue of $201.60 million for the quarter, compared to analysts’ expectations of $191.33 million. During the same period in the previous year, the company earned $0.21 earnings per share. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. analysts predict that Green Dot Co. will post 1.71 EPS for the current year.
Several equities research analysts have weighed in on the stock. Cowen reaffirmed a “hold” rating and issued a $52.00 price target on shares of Green Dot in a research note on Friday, November 10th. Citigroup downgraded shares of Green Dot from a “buy” rating to a “neutral” rating and set a $66.00 price target for the company. in a research note on Monday, November 13th. Zacks Investment Research raised shares of Green Dot from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Monday, November 13th. Deutsche Bank lifted their price target on shares of Green Dot from $42.00 to $54.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. Finally, Morgan Stanley set a $60.00 price objective on shares of Green Dot and gave the company a “hold” rating in a report on Monday, November 20th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Green Dot currently has a consensus rating of “Buy” and an average price target of $53.36.
In other Green Dot news, CEO Steven W. Streit sold 2,665 shares of the business’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $53.91, for a total value of $143,670.15. Following the transaction, the chief executive officer now directly owns 176,621 shares in the company, valued at $9,521,638.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven W. Streit sold 20,490 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $59.96, for a total transaction of $1,228,580.40. Following the completion of the transaction, the insider now owns 176,621 shares in the company, valued at $10,590,195.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,076 shares of company stock worth $11,211,887. 11.00% of the stock is owned by corporate insiders.
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About Green Dot
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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