Rhumbline Advisers Trims Stock Position in Green Dot Corporation (NYSE:GDOT)

Rhumbline Advisers lessened its position in Green Dot Corporation (NYSE:GDOT) by 50.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,566 shares of the financial services provider’s stock after selling 82,913 shares during the period. Rhumbline Advisers’ holdings in Green Dot were worth $688,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Green Dot by 152.0% in the first quarter. GAMMA Investing LLC now owns 5,663 shares of the financial services provider’s stock valued at $48,000 after buying an additional 3,416 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Green Dot in the fourth quarter valued at approximately $2,048,000. Mackenzie Financial Corp acquired a new position in shares of Green Dot in the fourth quarter valued at approximately $291,000. ProShare Advisors LLC increased its position in Green Dot by 45.8% during the fourth quarter. ProShare Advisors LLC now owns 16,192 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 5,089 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in Green Dot by 1.1% during the fourth quarter. Nuveen Asset Management LLC now owns 647,396 shares of the financial services provider’s stock worth $6,888,000 after purchasing an additional 6,964 shares during the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.

Insiders Place Their Bets

In related news, insider Christian Devin Ruppel sold 10,189 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $11.00, for a total transaction of $112,079.00. Following the completion of the sale, the insider now directly owns 253,139 shares in the company, valued at approximately $2,784,529. This trade represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on GDOT shares. Northland Capmk raised shares of Green Dot from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 9th. Wall Street Zen raised shares of Green Dot from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Barclays upped their price target on shares of Green Dot from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Monday, May 12th. Keefe, Bruyette & Woods dropped their price target on shares of Green Dot from $12.00 to $10.00 and set a “market perform” rating for the company in a research report on Friday, February 28th. Finally, Northland Securities raised shares of Green Dot from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.50.

Green Dot Stock Up 0.3%

GDOT stock opened at $9.52 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.07. Green Dot Corporation has a fifty-two week low of $6.12 and a fifty-two week high of $13.58. The firm’s 50-day simple moving average is $9.07 and its 200 day simple moving average is $8.95. The stock has a market cap of $522.61 million, a PE ratio of -73.23 and a beta of 0.73.

Green Dot (NYSE:GDOT) last released its earnings results on Thursday, May 8th. The financial services provider reported $1.06 EPS for the quarter, beating the consensus estimate of $0.70 by $0.36. The firm had revenue of $555.96 million for the quarter, compared to analysts’ expectations of $503.20 million. Green Dot had a negative net margin of 0.31% and a positive return on equity of 8.82%. Green Dot’s quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter last year, the company earned $0.59 EPS. As a group, sell-side analysts predict that Green Dot Corporation will post 0.87 EPS for the current year.

Green Dot Profile

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.