Eaton Vance Management raised its stake in Green Dot Co. (NYSE:GDOT) by 44.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,781 shares of the financial services provider’s stock after buying an additional 11,970 shares during the quarter. Eaton Vance Management owned about 0.07% of Green Dot worth $3,445,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can acquired a new position in Green Dot in the second quarter valued at about $165,000. Harvest Fund Management Co. Ltd acquired a new position in Green Dot in the third quarter valued at about $165,000. Cynosure Advisors LLC acquired a new position in Green Dot in the second quarter valued at about $280,000. Clarus Wealth Advisors acquired a new position in Green Dot in the third quarter valued at about $287,000. Finally, Stevens Capital Management LP acquired a new position in Green Dot in the second quarter valued at about $305,000. 85.75% of the stock is currently owned by institutional investors.
Shares of GDOT opened at $79.00 on Friday. The stock has a market cap of $4.16 billion, a PE ratio of 34.48 and a beta of 1.03. Green Dot Co. has a 1 year low of $54.08 and a 1 year high of $93.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.04.
Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Wednesday, November 7th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.13. The business had revenue of $230.58 million for the quarter, compared to analysts’ expectations of $223.95 million. Green Dot had a net margin of 11.47% and a return on equity of 14.80%. The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share. As a group, analysts predict that Green Dot Co. will post 2.49 EPS for the current year.
In related news, insider Jess Unruh sold 2,147 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $83.40, for a total transaction of $179,059.80. Following the sale, the insider now directly owns 67,956 shares in the company, valued at $5,667,530.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven W. Streit sold 43,396 shares of the company’s stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $87.02, for a total transaction of $3,776,319.92. Following the sale, the insider now owns 236,471 shares in the company, valued at $20,577,706.42. The disclosure for this sale can be found here. Insiders have sold 451,485 shares of company stock worth $36,720,217 over the last 90 days. Insiders own 11.00% of the company’s stock.
GDOT has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Green Dot from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Craig Hallum reissued a “buy” rating on shares of Green Dot in a research report on Friday, September 14th. Citigroup set a $105.00 price target on shares of Green Dot and gave the stock a “buy” rating in a research report on Friday, November 9th. ValuEngine cut shares of Green Dot from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 1st. Finally, Barclays began coverage on shares of Green Dot in a research report on Wednesday, November 14th. They set an “overweight” rating and a $103.00 price target on the stock. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $91.33.
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Green Dot Company 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.
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