BlueMountain Capital Management LLC Purchases 6,563 Shares of Green Dot Co. (GDOT)

BlueMountain Capital Management LLC increased its position in Green Dot Co. (NYSE:GDOT) by 77.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,054 shares of the financial services provider’s stock after buying an additional 6,563 shares during the quarter. BlueMountain Capital Management LLC’s holdings in Green Dot were worth $1,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in GDOT. Stephens Investment Management Group LLC increased its stake in shares of Green Dot by 8.0% during the second quarter. Stephens Investment Management Group LLC now owns 607,335 shares of the financial services provider’s stock valued at $43,783,000 after buying an additional 45,065 shares during the period. Employees Retirement System of Texas purchased a new position in shares of Green Dot during the second quarter valued at approximately $1,761,000. Federated Investors Inc. PA increased its stake in shares of Green Dot by 36.7% during the second quarter. Federated Investors Inc. PA now owns 52,031 shares of the financial services provider’s stock valued at $3,818,000 after buying an additional 13,980 shares during the period. FMR LLC increased its stake in shares of Green Dot by 284.0% during the second quarter. FMR LLC now owns 409,600 shares of the financial services provider’s stock valued at $30,061,000 after buying an additional 302,936 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Green Dot by 6.5% during the second quarter. Legal & General Group Plc now owns 101,947 shares of the financial services provider’s stock valued at $7,438,000 after buying an additional 6,212 shares during the period. Institutional investors own 84.99% of the company’s stock.

Shares of GDOT stock opened at $86.24 on Friday. The firm has a market capitalization of $4.49 billion, a P/E ratio of 54.82 and a beta of 0.75. Green Dot Co. has a twelve month low of $46.45 and a twelve month high of $87.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.05 and a current ratio of 1.05.

Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.11. The company had revenue of $258.30 million for the quarter, compared to analysts’ expectations of $250.18 million. Green Dot had a return on equity of 14.26% and a net margin of 12.73%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. equities analysts anticipate that Green Dot Co. will post 2.4 earnings per share for the current fiscal year.

In other Green Dot news, CEO Steven W. Streit sold 7,974 shares of the business’s stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $76.94, for a total value of $613,519.56. Following the sale, the chief executive officer now directly owns 125,775 shares of the company’s stock, valued at $9,677,128.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jess Unruh sold 11,043 shares of the business’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $85.11, for a total value of $939,869.73. Following the completion of the sale, the chief accounting officer now directly owns 87,312 shares in the company, valued at $7,431,124.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 274,439 shares of company stock worth $22,197,305. 11.00% of the stock is owned by insiders.

Several equities analysts have recently issued reports on the company. Loop Capital boosted their target price on Green Dot to $100.00 and gave the company a “buy” rating in a research note on Thursday, August 9th. Zacks Investment Research cut Green Dot from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Guggenheim reissued a “buy” rating and set a $88.00 target price on shares of Green Dot in a research note on Thursday, August 9th. Jefferies Financial Group boosted their target price on Green Dot from $89.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, August 9th. Finally, Citigroup boosted their target price on Green Dot from $77.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, August 9th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Green Dot has an average rating of “Buy” and a consensus target price of $79.00.

Green Dot Profile

Green Dot Corporation, together with its subsidiaries, operates as a pro-consumer bank holding company that provides personal banking for the masses. It operates through two segments, Account Services and Processing, and Settlement Services. The company offers deposit as account programs, such reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer checking accounts, small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.

See Also: What is a Stop Order?

Institutional Ownership by Quarter for Green Dot (NYSE:GDOT)

Receive News & Ratings for Green Dot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Green Dot and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply