Simcoe Capital LLC Buys Shares of 368,867 Green Dot Corporation $GDOT

Simcoe Capital LLC bought a new stake in shares of Green Dot Corporation (NYSE:GDOT) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 368,867 shares of the financial services provider’s stock, valued at approximately $4,725,000. Green Dot makes up about 4.4% of Simcoe Capital LLC’s portfolio, making the stock its 4th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new position in Green Dot during the 3rd quarter valued at about $29,000. Tower Research Capital LLC TRC increased its holdings in Green Dot by 23.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,504 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 1,221 shares in the last quarter. Caxton Associates LLP purchased a new position in Green Dot during the 1st quarter valued at about $96,000. OLD National Bancorp IN purchased a new position in Green Dot during the 4th quarter valued at about $128,000. Finally, Zacks Investment Management purchased a new position in Green Dot during the 3rd quarter valued at about $188,000. 92.56% of the stock is currently owned by hedge funds and other institutional investors.

Green Dot Price Performance

Green Dot stock opened at $12.64 on Wednesday. Green Dot Corporation has a 12-month low of $8.95 and a 12-month high of $15.41. The stock has a market capitalization of $702.24 million, a P/E ratio of -9.57 and a beta of 0.86. The firm’s 50-day moving average is $11.68 and its two-hundred day moving average is $12.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.52 and a quick ratio of 0.52.

Green Dot (NYSE:GDOT) last released its quarterly earnings results on Monday, May 11th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.24. Green Dot had a negative net margin of 3.25% and a positive return on equity of 7.63%. The company had revenue of $652.03 million for the quarter, compared to analysts’ expectations of $597.39 million. Equities analysts predict that Green Dot Corporation will post 1.09 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GDOT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Green Dot in a research note on Tuesday, April 21st. Craig Hallum reaffirmed a “buy” rating and set a $18.00 price target on shares of Green Dot in a research note on Tuesday, March 17th. Finally, Wall Street Zen raised shares of Green Dot from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.75.

Green Dot Company Profile

Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company that provides prepaid debit cards, cash reload processing services and consumer banking products through its subsidiary, Green Dot Bank. The firm offers reloadable prepaid cards under its own brand and through partnerships with retailers, payments networks and banks. In addition to consumer-focused prepaid card accounts, Green Dot delivers payroll card services, government disbursement programs and B2B payment solutions that enable businesses to distribute funds digitally to end users.

Founded in 1999 by Steve Streit and headquartered in Austin, Texas, Green Dot began as a prepaid MasterCard provider sold through retail outlets.