Green Dot (NYSE:GDOT) Shares Up 4.3% After Insider Buying Activity

Shares of Green Dot Co. (NYSE:GDOT) rose 4.3% on Tuesday after an insider bought additional shares in the company. The stock traded as high as $11.21 and last traded at $11.19. Approximately 80,915 shares were traded during trading, a decline of 85% from the average daily volume of 543,469 shares. The stock had previously closed at $10.73.

Specifically, major shareholder Topline Capital Partners, Lp bought 135,123 shares of the stock in a transaction on Friday, November 8th. The stock was acquired at an average price of $10.94 per share, with a total value of $1,478,245.62. Following the acquisition, the insider now directly owns 6,292,788 shares in the company, valued at approximately $68,843,100.72. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Upgrades and Downgrades

GDOT has been the topic of a number of recent research reports. Barclays lifted their price target on Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $11.00 target price on shares of Green Dot in a research report on Monday, July 22nd. Finally, Craig Hallum upped their price target on shares of Green Dot from $10.00 to $11.00 and gave the company a “hold” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.75.

Green Dot Stock Up 6.2 %

The stock has a 50 day moving average of $11.53 and a 200 day moving average of $10.41. The company has a market capitalization of $611.78 million, a price-to-earnings ratio of -10.85 and a beta of 0.91.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Kent Lake Capital LLC bought a new position in Green Dot during the first quarter worth $7,464,000. Bank of New York Mellon Corp grew its holdings in Green Dot by 17.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 544,166 shares of the financial services provider’s stock worth $5,142,000 after acquiring an additional 82,022 shares during the period. Thompson Siegel & Walmsley LLC raised its position in shares of Green Dot by 24.9% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 525,377 shares of the financial services provider’s stock worth $4,965,000 after acquiring an additional 104,829 shares in the last quarter. SG Capital Management LLC acquired a new position in shares of Green Dot in the 1st quarter valued at about $4,254,000. Finally, American Century Companies Inc. boosted its position in shares of Green Dot by 79.0% during the 2nd quarter. American Century Companies Inc. now owns 322,692 shares of the financial services provider’s stock valued at $3,049,000 after purchasing an additional 142,377 shares in the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.

Green Dot Company 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.