Connors Investor Services Inc. Lowers Position in Green Dot Co. (NYSE:GDOT)

Connors Investor Services Inc. reduced its holdings in shares of Green Dot Co. (NYSE:GDOT) by 3.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,694 shares of the financial services provider’s stock after selling 8,430 shares during the period. Connors Investor Services Inc. owned 0.43% of Green Dot worth $2,152,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GDOT. Thompson Siegel & Walmsley LLC boosted its stake in Green Dot by 24.9% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 525,377 shares of the financial services provider’s stock worth $4,965,000 after purchasing an additional 104,829 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Green Dot by 6.4% in the second quarter. Federated Hermes Inc. now owns 124,669 shares of the financial services provider’s stock worth $1,178,000 after buying an additional 7,532 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Green Dot by 79.0% during the second quarter. American Century Companies Inc. now owns 322,692 shares of the financial services provider’s stock valued at $3,049,000 after buying an additional 142,377 shares during the last quarter. Headlands Technologies LLC increased its position in shares of Green Dot by 44.3% during the second quarter. Headlands Technologies LLC now owns 3,957 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 1,214 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in Green Dot by 25.2% in the 2nd quarter. Texas Permanent School Fund Corp now owns 48,792 shares of the financial services provider’s stock worth $461,000 after acquiring an additional 9,829 shares during the last quarter. Institutional investors own 92.56% of the company’s stock.

Green Dot Stock Performance

GDOT stock opened at $11.74 on Tuesday. The company has a market cap of $624.69 million, a price-to-earnings ratio of -24.98 and a beta of 0.91. The business’s 50-day moving average is $10.25 and its two-hundred day moving average is $9.57. Green Dot Co. has a fifty-two week low of $7.30 and a fifty-two week high of $14.54.

Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. The business had revenue of $407.10 million for the quarter, compared to analysts’ expectations of $381.87 million. Green Dot had a negative net margin of 3.41% and a positive return on equity of 4.01%. The company’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 EPS. Equities analysts predict that Green Dot Co. will post 1 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $11.00 target price on shares of Green Dot in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Green Dot currently has a consensus rating of “Hold” and an average target price of $10.75.

About Green Dot

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.