Pacer Advisors Inc. acquired a new position in shares of Green Dot Co. (NYSE:GDOT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,949 shares of the financial services provider’s stock, valued at approximately $927,000.
Several other hedge funds and other institutional investors have also bought and sold shares of GDOT. Retirement Systems of Alabama raised its holdings in Green Dot by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 62,223 shares of the financial services provider’s stock valued at $3,043,000 after acquiring an additional 226 shares in the last quarter. Arizona State Retirement System raised its holdings in Green Dot by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 34,720 shares of the financial services provider’s stock valued at $1,698,000 after acquiring an additional 522 shares in the last quarter. Pitcairn Co. raised its holdings in Green Dot by 10.0% in the 2nd quarter. Pitcairn Co. now owns 6,558 shares of the financial services provider’s stock valued at $321,000 after acquiring an additional 595 shares in the last quarter. Stone Ridge Asset Management LLC raised its holdings in Green Dot by 3.7% in the 2nd quarter. Stone Ridge Asset Management LLC now owns 16,663 shares of the financial services provider’s stock valued at $815,000 after acquiring an additional 600 shares in the last quarter. Finally, Cutler Group LP acquired a new position in Green Dot in the 2nd quarter valued at approximately $29,000. 90.55% of the stock is owned by institutional investors and hedge funds.
In other news, CRO Brett Narlinger sold 5,602 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $28.32, for a total value of $158,648.64. Following the sale, the executive now directly owns 71,624 shares in the company, valued at approximately $2,028,391.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 7.80% of the company’s stock.
GDOT has been the subject of several recent research reports. ValuEngine cut Green Dot from a “sell” rating to a “strong sell” rating in a report on Thursday, August 8th. Deutsche Bank cut their price target on Green Dot from $44.00 to $29.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Northland Securities reaffirmed a “hold” rating on shares of Green Dot in a report on Friday. Needham & Company LLC cut their price target on Green Dot to $42.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Jefferies Financial Group cut Green Dot from a “buy” rating to a “hold” rating and cut their price target for the company from $62.00 to $32.00 in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Green Dot has an average rating of “Hold” and an average price target of $49.69.
Shares of GDOT stock traded down $0.87 during trading hours on Friday, hitting $27.01. The company had a trading volume of 684,555 shares, compared to its average volume of 624,355. Green Dot Co. has a 12 month low of $24.19 and a 12 month high of $93.00. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 10.68 and a beta of 1.10. The firm’s fifty day moving average is $34.90 and its 200 day moving average is $49.84. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.01 and a current ratio of 1.01.
Green Dot (NYSE:GDOT) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.33. Green Dot had a return on equity of 16.77% and a net margin of 10.81%. The company had revenue of $278.33 million for the quarter, compared to analyst estimates of $266.93 million. During the same period in the prior year, the company posted $0.74 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts expect that Green Dot Co. will post 2.1 EPS for the current fiscal year.
Green Dot Profile
Green Dot Corporation operates as a financial technology and bank holding company in the United States. It operates in two segments, Account Services, and Processing and Settlement Services. The company offers deposit account programs, such network-branded reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer and small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.
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