Starboard Value LP Has $48.99 Million Stock Position in Green Dot Co. (NYSE:GDOT)

Starboard Value LP reduced its holdings in shares of Green Dot Co. (NYSE:GDOT) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,604,381 shares of the financial services provider’s stock after selling 414,000 shares during the quarter. Green Dot accounts for about 0.9% of Starboard Value LP’s holdings, making the stock its 20th biggest position. Starboard Value LP owned approximately 8.56% of Green Dot worth $48,991,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in Green Dot by 31.0% during the third quarter. JPMorgan Chase & Co. now owns 331,802 shares of the financial services provider’s stock worth $3,885,000 after purchasing an additional 78,547 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Green Dot by 20.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,114,292 shares of the financial services provider’s stock worth $22,496,000 after acquiring an additional 363,831 shares during the period. Walmart Inc. bought a new stake in Green Dot during the 4th quarter worth approximately $10,374,000. Wellington Management Group LLP bought a new stake in Green Dot during the 4th quarter worth approximately $2,048,000. Finally, Principal Financial Group Inc. increased its holdings in Green Dot by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 260,772 shares of the financial services provider’s stock worth $2,775,000 after acquiring an additional 7,642 shares during the period. 92.56% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Green Dot news, insider Christian Devin Ruppel sold 10,189 shares of Green Dot stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $11.00, for a total value of $112,079.00. Following the completion of the transaction, the insider now directly owns 253,139 shares of the company’s stock, valued at approximately $2,784,529. The trade was a 3.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GDOT. Keefe, Bruyette & Woods decreased their price target on shares of Green Dot from $12.00 to $10.00 and set a “market perform” rating on the stock in a report on Friday, February 28th. Northland Capmk raised shares of Green Dot from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 9th. Barclays upped their price objective on shares of Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Monday, May 12th. Northland Securities raised shares of Green Dot from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research note on Wednesday, April 9th. Finally, Craig Hallum raised shares of Green Dot from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.50.

Green Dot Trading Down 2.5%

Shares of NYSE GDOT opened at $9.46 on Friday. Green Dot Co. has a 1 year low of $6.12 and a 1 year high of $13.58. The stock has a market cap of $512.74 million, a P/E ratio of -9.00 and a beta of 0.76. The firm has a 50-day moving average of $8.10 and a 200 day moving average of $9.17. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.52 and a quick ratio of 0.52.

Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.36. Green Dot had a negative net margin of 3.39% and a positive return on equity of 3.84%. The company had revenue of $555.96 million during the quarter, compared to analysts’ expectations of $503.20 million. During the same period last year, the company posted $0.59 EPS. Green Dot’s revenue was up 23.6% on a year-over-year basis. As a group, sell-side analysts expect that Green Dot Co. will post 0.87 EPS for the current fiscal year.

Green Dot Profile

Green Dot Corporation, a financial technology and registered bank holding company, provides various financial services to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services. The company provides deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.