Green Dot Co. (NYSE:GDOT) Major Shareholder Topline Capital Partners, Lp Acquires 162,243 Shares of Stock

Green Dot Co. (NYSE:GDOT) major shareholder Topline Capital Partners, Lp purchased 162,243 shares of Green Dot stock in a transaction dated Tuesday, September 24th. The stock was bought at an average cost of $11.87 per share, with a total value of $1,925,824.41. Following the completion of the purchase, the insider now owns 6,157,665 shares in the company, valued at approximately $73,091,483.55. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Green Dot Stock Down 5.9 %

Shares of NYSE GDOT opened at $11.02 on Wednesday. Green Dot Co. has a 12 month low of $7.30 and a 12 month high of $14.05. The company has a market cap of $586.37 million, a price-to-earnings ratio of -23.45 and a beta of 0.91. The business has a fifty day simple moving average of $10.74 and a 200-day simple moving average of $9.82.

Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The business had revenue of $407.10 million for the quarter, compared to the consensus estimate of $381.87 million. Green Dot had a positive return on equity of 4.01% and a negative net margin of 3.41%. Green Dot’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 earnings per share. As a group, sell-side analysts expect that Green Dot Co. will post 1 EPS for the current fiscal year.

Analysts Set New Price Targets

GDOT has been the subject of several research analyst reports. Barclays upped their price objective on Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $11.00 price objective on shares of Green Dot in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Green Dot currently has an average rating of “Hold” and an average price target of $11.50.

Institutional Investors Weigh In On Green Dot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its stake in shares of Green Dot by 162.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,602 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 1,609 shares during the last quarter. nVerses Capital LLC acquired a new position in Green Dot in the 2nd quarter worth about $25,000. Headlands Technologies LLC raised its stake in shares of Green Dot by 89.2% during the 1st quarter. Headlands Technologies LLC now owns 2,743 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,293 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Green Dot by 98.3% during the 1st quarter. UMB Bank n.a. now owns 2,855 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,415 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Green Dot during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors 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.