Steel Partners Holdings L.P. Lowers Holdings in Green Dot Corporation $GDOT

Steel Partners Holdings L.P. lowered its position in shares of Green Dot Corporation (NYSE:GDOT) by 67.4% in the first quarter, HoldingsChannel reports. The firm owned 1,230,439 shares of the financial services provider’s stock after selling 2,542,561 shares during the period. Green Dot makes up approximately 14.3% of Steel Partners Holdings L.P.’s investment portfolio, making the stock its 3rd biggest holding. Steel Partners Holdings L.P.’s holdings in Green Dot were worth $13,806,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Western Standard LLC boosted its position in Green Dot by 196.8% in the fourth quarter. Western Standard LLC now owns 1,977,500 shares of the financial services provider’s stock valued at $25,332,000 after buying an additional 1,311,170 shares in the last quarter. Credit Industriel ET Commercial acquired a new stake in shares of Green Dot during the fourth quarter worth approximately $1,281,000. CenterBook Partners LP increased its holdings in shares of Green Dot by 406.7% during the fourth quarter. CenterBook Partners LP now owns 1,233,176 shares of the financial services provider’s stock worth $15,797,000 after buying an additional 989,823 shares in the last quarter. Jacobs Asset Management LLC raised its stake in shares of Green Dot by 115.2% in the first quarter. Jacobs Asset Management LLC now owns 225,000 shares of the financial services provider’s stock valued at $2,524,000 after acquiring an additional 120,464 shares during the last quarter. Finally, Dana Investment Advisors Inc. raised its stake in shares of Green Dot by 32.8% in the fourth quarter. Dana Investment Advisors Inc. now owns 732,902 shares of the financial services provider’s stock valued at $9,388,000 after acquiring an additional 181,172 shares during the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.

Green Dot Stock Down 0.1%

Shares of NYSE:GDOT opened at $13.27 on Monday. Green Dot Corporation has a 12 month low of $9.31 and a 12 month high of $15.41. The company’s 50-day moving average price is $13.08 and its two-hundred day moving average price is $12.31. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.07. The firm has a market cap of $752.14 million, a P/E ratio of -10.05 and a beta of 0.83.

Green Dot (NYSE:GDOT) last posted its quarterly earnings data on Monday, May 11th. The financial services provider reported $1.12 earnings per share for the quarter, beating 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 7.56%. The firm had revenue of $652.03 million during the quarter, compared to analysts’ expectations of $597.39 million. As a group, research analysts forecast that Green Dot Corporation will post 1.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Green Dot in a report on Friday, July 17th. Zacks Research cut Green Dot from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.12.

About Green Dot

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.