Avalon Investment & Advisory purchased a new position in Green Dot Co. (NYSE:GDOT) in the second quarter, HoldingsChannel reports. The institutional investor purchased 98,493 shares of the financial services provider’s stock, valued at approximately $4,834,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of GDOT. Financial Management Professionals Inc. purchased a new position in Green Dot in the second quarter valued at $111,000. Mutual of America Capital Management LLC raised its holdings in Green Dot by 11.5% in the second quarter. Mutual of America Capital Management LLC now owns 2,376 shares of the financial services provider’s stock valued at $117,000 after buying an additional 245 shares during the period. Advisor Group Holdings Inc. purchased a new position in Green Dot in the first quarter valued at approximately $69,000. Flagship Harbor Advisors LLC raised its holdings in Green Dot by 1,325.0% in the first quarter. Flagship Harbor Advisors LLC now owns 2,850 shares of the financial services provider’s stock valued at $72,000 after buying an additional 2,650 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Green Dot by 46.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,025 shares of the financial services provider’s stock valued at $102,000 after buying an additional 1,275 shares during the period. 95.08% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on GDOT shares. BTIG Research reiterated a “buy” rating and set a $63.00 price objective on shares of Green Dot in a research note on Tuesday, August 4th. ValuEngine lowered shares of Green Dot from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. Barclays dropped their price objective on shares of Green Dot from $42.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, May 4th. Canaccord Genuity lifted their price objective on shares of Green Dot from $35.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $32.00 price objective on shares of Green Dot in a research note on Tuesday, May 12th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $50.91.
In other news, Director Jeffrey Osher purchased 25,000 shares of Green Dot stock in a transaction dated Wednesday, May 27th. The stock was bought at an average price of $36.76 per share, with a total value of $919,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Bibelheimer sold 12,806 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $40.00, for a total transaction of $512,240.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,354 shares of company stock valued at $2,175,688. Corporate insiders own 4.80% of the company’s stock.
Green Dot stock traded down $0.44 during mid-day trading on Thursday, reaching $51.68. The company’s stock had a trading volume of 7,811 shares, compared to its average volume of 456,021. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 54.40 and a beta of 1.16. The business has a 50 day moving average price of $51.31 and a 200-day moving average price of $36.95. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.02. Green Dot Co. has a twelve month low of $14.20 and a twelve month high of $56.92.
Green Dot (NYSE:GDOT) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.11. Green Dot had a net margin of 4.39% and a return on equity of 7.96%. The company had revenue of $316.24 million during the quarter, compared to the consensus estimate of $240.94 million. During the same quarter in the previous year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, equities analysts expect that Green Dot Co. will post 1.26 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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