Insider Selling: Green Dot Corporation (GDOT) Insider Sells 7,995 Shares of Stock
Green Dot Corporation (NYSE:GDOT) insider Steven W. Streit sold 7,995 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $47.62, for a total transaction of $380,721.90. Following the sale, the insider now owns 217,010 shares of the company’s stock, valued at $10,334,016.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Green Dot Corporation (NYSE:GDOT) traded up 0.74% on Thursday, hitting $47.58. 207,853 shares of the stock traded hands. Green Dot Corporation has a 52 week low of $21.45 and a 52 week high of $48.51. The stock has a 50 day moving average price of $44.02 and a 200-day moving average price of $37.32. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 40.46 and a beta of 1.01.
Green Dot Corporation (NYSE:GDOT) last announced its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.16. The company had revenue of $222.50 million for the quarter, compared to analysts’ expectations of $208.59 million. Green Dot Corporation had a net margin of 7.66% and a return on equity of 12.13%. Green Dot Corporation’s revenue was up 28.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 EPS. On average, equities research analysts forecast that Green Dot Corporation will post $2.05 EPS for the current year.
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Several equities research analysts have issued reports on GDOT shares. Citigroup Inc. raised their price objective on shares of Green Dot Corporation from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Zacks Investment Research downgraded shares of Green Dot Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. Jefferies Group LLC restated a “buy” rating and set a $42.00 price objective on shares of Green Dot Corporation in a research report on Monday, May 22nd. Lake Street Capital started coverage on shares of Green Dot Corporation in a research report on Monday, June 26th. They set a “hold” rating and a $41.00 price objective for the company. Finally, Keefe, Bruyette & Woods set a $37.00 price objective on shares of Green Dot Corporation and gave the stock a “hold” rating in a research report on Thursday, July 6th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $41.33.
Hedge funds have recently made changes to their positions in the stock. Daiwa Securities Group Inc. purchased a new stake in shares of Green Dot Corporation during the 2nd quarter valued at approximately $108,000. IFP Advisors Inc lifted its stake in shares of Green Dot Corporation by 5,537.3% during the 2nd quarter. IFP Advisors Inc now owns 2,875 shares of the financial services provider’s stock valued at $111,000 after buying an additional 2,824 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Green Dot Corporation during the 1st quarter valued at approximately $118,000. Turner Investments LLC purchased a new stake in shares of Green Dot Corporation during the 2nd quarter valued at approximately $154,000. Finally, Riverhead Capital Management LLC lifted its stake in shares of Green Dot Corporation by 55.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,029 shares of the financial services provider’s stock valued at $155,000 after buying an additional 1,429 shares in the last quarter. Institutional investors own 77.52% of the company’s stock.
About Green Dot Corporation
Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.
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