Alliancebernstein L.P. Sells 57,700 Shares of Green Dot Co. (GDOT)
Alliancebernstein L.P. lessened its stake in Green Dot Co. (NYSE:GDOT) by 30.4% during the third quarter, HoldingsChannel reports. The firm owned 132,360 shares of the financial services provider’s stock after selling 57,700 shares during the period. Alliancebernstein L.P.’s holdings in Green Dot were worth $11,756,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of GDOT. Harvest Fund Management Co. Ltd bought a new stake in Green Dot during the third quarter worth $165,000. Bank of Montreal Can bought a new stake in Green Dot during the second quarter worth $165,000. Clarus Wealth Advisors bought a new stake in Green Dot during the third quarter worth $287,000. Cynosure Advisors LLC bought a new stake in Green Dot during the second quarter worth $280,000. Finally, US Bancorp DE lifted its holdings in Green Dot by 90.8% during the third quarter. US Bancorp DE now owns 3,903 shares of the financial services provider’s stock worth $346,000 after acquiring an additional 1,857 shares during the period. Institutional investors own 85.75% of the company’s stock.
A number of brokerages recently commented on GDOT. Barclays began coverage on Green Dot in a report on Wednesday, November 14th. They set an “overweight” rating and a $103.00 price target on the stock. Zacks Investment Research upgraded Green Dot from a “hold” rating to a “strong-buy” rating and set a $91.00 price target on the stock in a report on Wednesday, November 14th. Citigroup set a $105.00 price target on Green Dot and gave the stock a “buy” rating in a report on Friday, November 9th. Craig Hallum set a $115.00 price target on Green Dot and gave the stock a “buy” rating in a report on Thursday, November 8th. Finally, Deutsche Bank set a $79.00 price target on Green Dot and gave the stock a “hold” rating in a report on Thursday, November 8th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Green Dot has a consensus rating of “Buy” and a consensus target price of $91.33.
Green Dot (NYSE:GDOT) last issued its earnings results on Wednesday, November 7th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.13. The firm had revenue of $230.58 million for the quarter, compared to analyst estimates of $223.95 million. Green Dot had a return on equity of 14.80% and a net margin of 11.47%. The business’s revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. Research analysts anticipate that Green Dot Co. will post 2.49 earnings per share for the current fiscal year.
In other Green Dot news, CFO Mark L. Shifke sold 10,000 shares of the business’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $86.36, for a total value of $863,600.00. Following the sale, the chief financial officer now directly owns 652,020 shares in the company, valued at $56,308,447.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Brett Narlinger sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the completion of the sale, the executive now owns 76,554 shares in the company, valued at $6,124,320. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 451,485 shares of company stock worth $36,720,217. Corporate insiders own 11.00% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Alliancebernstein L.P. Sells 57,700 Shares of Green Dot Co. (GDOT)” was posted by Daily Political and is the property of of Daily Political. If you are reading this story on another domain, it was illegally stolen and republished in violation of US & international copyright & trademark laws. The legal version of this story can be read at https://www.dailypolitical.com/2018/12/08/alliancebernstein-l-p-sells-57700-shares-of-green-dot-co-gdot.html.
Green Dot Profile
Green Dot Corporation, together with its subsidiaries, operates as a pro-consumer bank holding company that provides personal banking for the masses. It operates through two segments, Account Services and Processing, and Settlement Services. The company offers deposit as account programs, such reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer checking accounts, small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.
Further Reading: How much money do you need to begin day trading?
Want to see what other hedge funds are holding GDOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Green Dot Co. (NYSE:GDOT).
Receive News & Ratings for Green Dot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Green Dot and related companies with MarketBeat.com's FREE daily email newsletter.