Green Dot (NYSE:GDOT) Stock Price Down 4% – Here’s Why

Green Dot Co. (NYSE:GDOT) shares traded down 4% during trading on Friday . The company traded as low as $10.12 and last traded at $10.15. 167,455 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 408,731 shares. The stock had previously closed at $10.57.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GDOT. Barclays raised their price objective on Green Dot from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Monday, September 23rd. Craig Hallum lifted their price target on shares of Green Dot from $10.00 to $11.00 and gave the company a “hold” rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Green Dot has an average rating of “Hold” and an average target price of $10.75.

Green Dot Stock Performance

The business has a 50 day moving average price of $10.87 and a two-hundred day moving average price of $10.65. The stock has a market cap of $535.21 million, a P/E ratio of -9.48 and a beta of 0.90. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.05.

Insider Buying and Selling at Green Dot

In related news, major shareholder Topline Capital Partners, Lp acquired 135,123 shares of the company’s 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 of the company’s stock, valued at approximately $68,843,100.72. This trade represents a 2.19 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Topline Capital Management, Ll sold 380,611 shares of Green Dot stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $10.44, for a total value of $3,973,578.84. Following the completion of the sale, the insider now directly owns 5,708,126 shares in the company, valued at $59,592,835.44. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 959,180 shares of company stock valued at $10,071,696 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Green Dot

Hedge funds have recently modified their holdings of the company. nVerses Capital LLC purchased a new stake in shares of Green Dot during the 2nd quarter valued at about $25,000. Quarry LP purchased a new stake in Green Dot during the second quarter valued at approximately $32,000. Headlands Technologies LLC lifted its stake in shares of Green Dot by 44.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,957 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 1,214 shares during the last quarter. Torno Capital LLC purchased a new position in shares of Green Dot in the 2nd quarter worth approximately $38,000. Finally, Versor Investments LP bought a new position in shares of Green Dot during the 2nd quarter valued at approximately $105,000. 92.56% of the stock is owned by hedge funds and other institutional investors.

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.