Rhumbline Advisers raised its stake in Green Dot Co. (NYSE:GDOT) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 104,340 shares of the financial services provider’s stock after acquiring an additional 14,948 shares during the quarter. Rhumbline Advisers owned approximately 0.21% of Green Dot worth $6,288,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. purchased a new stake in shares of Green Dot in the fourth quarter valued at $82,309,000. Rothschild Asset Management Inc. purchased a new stake in shares of Green Dot in the third quarter valued at $29,051,000. GMT Capital Corp purchased a new stake in shares of Green Dot in the third quarter valued at $13,178,000. Stephens Investment Management Group LLC grew its position in shares of Green Dot by 226.9% in the fourth quarter. Stephens Investment Management Group LLC now owns 382,882 shares of the financial services provider’s stock valued at $23,072,000 after purchasing an additional 265,757 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Green Dot in the third quarter valued at $7,420,000. 83.11% of the stock is owned by institutional investors.
Shares of Green Dot Co. (GDOT) traded down $0.03 during midday trading on Wednesday, hitting $67.62. The stock had a trading volume of 351,247 shares, compared to its average volume of 367,163. Green Dot Co. has a 52 week low of $32.04 and a 52 week high of $69.37. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $3,500.07, a P/E ratio of 41.23 and a beta of 0.79.
Green Dot (NYSE:GDOT) last issued its earnings results on Wednesday, February 21st. The financial services provider reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.04. Green Dot had a return on equity of 12.32% and a net margin of 9.65%. The company had revenue of $212.99 million during the quarter, compared to the consensus estimate of $206.07 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. The company’s revenue was up 30.9% compared to the same quarter last year. sell-side analysts expect that Green Dot Co. will post 2.44 earnings per share for the current fiscal year.
In related news, insider Steven W. Streit sold 20,490 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $61.09, for a total value of $1,251,734.10. Following the transaction, the insider now owns 176,621 shares in the company, valued at $10,789,776.89. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Steven W. Streit sold 4,165 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $60.65, for a total value of $252,607.25. Following the completion of the transaction, the chief executive officer now owns 178,121 shares in the company, valued at approximately $10,803,038.65. The disclosure for this sale can be found here. Insiders sold 310,525 shares of company stock valued at $19,117,851 in the last ninety days. Company insiders own 11.00% of the company’s stock.
A number of equities research analysts have recently commented on the company. SunTrust Banks reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Green Dot in a research report on Friday, February 23rd. Guggenheim reissued a “buy” rating and set a $76.00 price target on shares of Green Dot in a research report on Monday, February 26th. Zacks Investment Research downgraded Green Dot from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Cowen reissued a “hold” rating and set a $55.00 price target on shares of Green Dot in a research report on Friday, January 12th. Finally, ValuEngine raised Green Dot from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $63.29.
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About Green Dot
Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.
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