Acadian Asset Management LLC increased its position in shares of Green Dot Co. (NYSE:GDOT) by 197.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,953 shares of the financial services provider’s stock after acquiring an additional 24,531 shares during the period. Acadian Asset Management LLC owned approximately 0.07% of Green Dot worth $3,282,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in GDOT. James Investment Research Inc. purchased a new position in Green Dot in the 2nd quarter worth about $101,000. Bank of Montreal Can purchased a new position in Green Dot in the 2nd quarter worth about $165,000. Everence Capital Management Inc. purchased a new position in Green Dot in the 2nd quarter worth about $228,000. Clarus Wealth Advisors purchased a new position in Green Dot in the 3rd quarter worth about $287,000. Finally, Adviser Investments LLC increased its stake in Green Dot by 361.8% in the 2nd quarter. Adviser Investments LLC now owns 3,450 shares of the financial services provider’s stock worth $253,000 after purchasing an additional 2,703 shares in the last quarter. 84.62% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on GDOT. Craig Hallum set a $115.00 price objective on Green Dot and gave the stock a “buy” rating in a research report on Thursday. Deutsche Bank set a $79.00 price objective on Green Dot and gave the stock a “hold” rating in a research report on Thursday. Citigroup set a $105.00 price objective on Green Dot and gave the stock a “buy” rating in a research report on Friday. Loop Capital raised their price objective on Green Dot to $100.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Finally, Zacks Investment Research lowered Green Dot from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $89.82.
Shares of NYSE GDOT opened at $85.93 on Friday. Green Dot Co. has a one year low of $54.08 and a one year high of $93.00. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 54.39 and a beta of 1.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.05 and a quick ratio of 1.05.
Green Dot (NYSE:GDOT) last announced its quarterly earnings data on Wednesday, November 7th. The financial services provider reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.13. The firm had revenue of $230.58 million during the quarter, compared to analyst estimates of $223.95 million. Green Dot had a return on equity of 14.26% and a net margin of 12.73%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the company posted $0.34 EPS. Equities analysts expect that Green Dot Co. will post 2.4 EPS for the current year.
In other news, Director Kenneth C. Aldrich sold 31,281 shares of Green Dot stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $85.70, for a total transaction of $2,680,781.70. Following the completion of the sale, the director now directly owns 31,251 shares in the company, valued at approximately $2,678,210.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Jess Unruh sold 11,043 shares of Green Dot stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $85.11, for a total value of $939,869.73. Following the sale, the chief accounting officer now owns 87,312 shares of the company’s stock, valued at $7,431,124.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 426,362 shares of company stock valued at $35,029,225. 11.00% of the stock is owned by corporate insiders.
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About Green Dot
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.
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