Dana Investment Advisors Inc. Cuts Stock Holdings in Green Dot Co. (NYSE:GDOT)

Dana Investment Advisors Inc. cut its position in shares of Green Dot Co. (NYSE:GDOT) by 4.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 537,705 shares of the financial services provider’s stock after selling 23,478 shares during the period. Dana Investment Advisors Inc.’s holdings in Green Dot were worth $5,081,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GDOT. Nisa Investment Advisors LLC boosted its stake in shares of Green Dot by 162.0% during the 2nd 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 in 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 holdings in Green Dot by 89.2% in 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 during the period. UMB Bank n.a. boosted its position in Green Dot by 98.3% during the first 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 Green Dot in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 92.56% of the company’s stock.

Green Dot Stock Down 5.9 %

Shares of GDOT opened at $11.02 on Wednesday. Green Dot Co. has a 52-week low of $7.30 and a 52-week high of $14.05. The stock has a fifty day simple moving average of $10.74 and a two-hundred day simple moving average of $9.82. The company has a market capitalization of $586.37 million, a PE ratio of -23.45 and a beta of 0.91.

Green Dot (NYSE:GDOT) last released its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. Green Dot had a negative net margin of 3.41% and a positive return on equity of 4.01%. The firm had revenue of $407.10 million during the quarter, compared to analysts’ expectations of $381.87 million. During the same period last year, the business earned $0.20 earnings per share. Green Dot’s revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts anticipate that Green Dot Co. will post 1 earnings per share for the current fiscal year.

Insider Activity

In other Green Dot news, major shareholder Topline Capital Partners, Lp acquired 162,243 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was bought at an average cost of $11.87 per share, for a total transaction of $1,925,824.41. Following the completion of the transaction, the insider now owns 6,157,665 shares of the company’s stock, valued at approximately $73,091,483.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Topline Capital Partners, Lp bought 162,243 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were bought at an average price of $11.87 per share, with a total value of $1,925,824.41. Following the completion of the transaction, the insider now directly owns 6,157,665 shares of the company’s stock, valued at approximately $73,091,483.55. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Topline Capital Management, Ll purchased 36,671 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were bought at an average price of $12.49 per share, with a total value of $458,020.79. Following the completion of the transaction, the insider now owns 5,995,422 shares of the company’s stock, valued at $74,882,820.78. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Barclays increased their target price on Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Monday, September 23rd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $11.00 target price on shares of Green Dot in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Green Dot has an average rating of “Hold” and an average target price of $11.50.

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.