Assenagon Asset Management S.A. Sells 260,986 Shares of Green Dot Corporation $GDOT

Assenagon Asset Management S.A. reduced its position in Green Dot Corporation (NYSE:GDOT) by 69.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 115,717 shares of the financial services provider’s stock after selling 260,986 shares during the period. Assenagon Asset Management S.A.’s holdings in Green Dot were worth $1,554,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GDOT. DLD Asset Management LP bought a new stake in shares of Green Dot during the first quarter worth approximately $549,000. American Century Companies Inc. boosted its stake in Green Dot by 14.8% in the second quarter. American Century Companies Inc. now owns 1,416,163 shares of the financial services provider’s stock valued at $15,266,000 after acquiring an additional 182,113 shares during the last quarter. Strs Ohio acquired a new stake in Green Dot during the 1st quarter worth $603,000. Arrowstreet Capital Limited Partnership raised its position in shares of Green Dot by 403.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,223,123 shares of the financial services provider’s stock valued at $13,185,000 after acquiring an additional 980,012 shares during the last quarter. Finally, Icon Advisers Inc. Co. raised its position in shares of Green Dot by 64.5% during the 2nd quarter. Icon Advisers Inc. Co. now owns 71,452 shares of the financial services provider’s stock valued at $770,000 after acquiring an additional 28,017 shares during the last quarter. Institutional investors own 92.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GDOT. Northland Capmk lowered Green Dot from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. William Blair reissued a “market perform” rating on shares of Green Dot in a research note on Tuesday, November 11th. Wall Street Zen cut Green Dot from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Northland Securities set a $14.25 target price on Green Dot and gave the stock a “market perform” rating in a research report on Tuesday, November 25th. Finally, Zacks Research downgraded shares of Green Dot from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 16th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $12.56.

Green Dot Price Performance

NYSE GDOT opened at $13.04 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market cap of $722.40 million, a price-to-earnings ratio of -15.34 and a beta of 0.84. The business has a 50 day simple moving average of $12.31 and a 200 day simple moving average of $12.12. Green Dot Corporation has a 52-week low of $6.12 and a 52-week high of $15.41.

Green Dot (NYSE:GDOT) last released its quarterly earnings results on Monday, November 10th. The financial services provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.17. Green Dot had a negative net margin of 2.33% and a positive return on equity of 9.81%. The company had revenue of $491.85 million during the quarter, compared to analysts’ expectations of $483.84 million. During the same quarter in the prior year, the company earned $0.13 earnings per share. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. Green Dot has set its FY 2025 guidance at 1.310-1.440 EPS. Analysts anticipate that Green Dot Corporation will post 0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Saturnino Sixto Fanlo sold 13,451 shares of the business’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $12.61, for a total value of $169,617.11. Following the sale, the director directly owned 92,737 shares in the company, valued at $1,169,413.57. The trade was a 12.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director J Chris Brewster sold 7,969 shares of the company’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $12.37, for a total value of $98,576.53. Following the transaction, the director directly owned 133,215 shares of the company’s stock, valued at $1,647,869.55. This represents a 5.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is currently owned by corporate insiders.

About Green Dot

Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company that provides prepaid debit cards, cash reload processing services and consumer banking products through its subsidiary, Green Dot Bank. The firm offers reloadable prepaid cards under its own brand and through partnerships with retailers, payments networks and banks. In addition to consumer-focused prepaid card accounts, Green Dot delivers payroll card services, government disbursement programs and B2B payment solutions that enable businesses to distribute funds digitally to end users.

Founded in 1999 by Steve Streit and headquartered in Austin, Texas, Green Dot began as a prepaid MasterCard provider sold through retail outlets.