Green Dot (NYSE:GDOT) Shares Gap Up Following Insider Buying Activity

Green Dot Co. (NYSE:GDOT) gapped up prior to trading on Wednesday following insider buying activity. The stock had previously closed at $11.02, but opened at $11.62. Green Dot shares last traded at $11.13, with a volume of 27,327 shares.

Specifically, major shareholder Topline Capital Partners, Lp purchased 162,243 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were acquired at an average price of $11.87 per share, for a total transaction of $1,925,824.41. Following the completion of the acquisition, the insider now directly owns 6,157,665 shares in the company, 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 link. Also, insider Topline Capital Management, Ll acquired 36,671 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was bought at an average price of $12.49 per share, with a total value of $458,020.79. Following the completion of the acquisition, the insider now directly owns 5,995,422 shares in the company, valued at approximately $74,882,820.78. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $11.00 price target on shares of Green Dot in a research report on Monday, July 22nd. Barclays upped their target price on Green Dot from $7.00 to $10.00 and gave the stock an “underweight” rating in a report on Monday, September 23rd. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.50.

Green Dot Trading Up 1.4 %

The company has a market capitalization of $594.36 million, a P/E ratio of -23.45 and a beta of 0.91. The company’s 50 day moving average is $10.74 and its 200-day moving average is $9.82.

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

Institutional Investors Weigh In On Green Dot

Several hedge funds have recently added to or reduced their stakes in GDOT. nVerses Capital LLC purchased a new position in shares of Green Dot in the 2nd quarter worth about $25,000. Nisa Investment Advisors LLC raised its holdings in 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 buying an additional 1,609 shares during the last quarter. Headlands Technologies LLC lifted its stake in shares of Green Dot by 89.2% in the first quarter. Headlands Technologies LLC now owns 2,743 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,293 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of 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 valued at $27,000 after buying an additional 1,415 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Green Dot during the second quarter valued at approximately $32,000. 92.56% of the stock is owned by institutional investors.

About Green Dot

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.