Insider Buying: Green Dot Co. (NYSE:GDOT) Major Shareholder Purchases 162,243 Shares of Stock

Green Dot Co. (NYSE:GDOT) major shareholder Topline Capital Partners, Lp purchased 162,243 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was acquired at an average price of $11.87 per share, with a total value of $1,925,824.41. Following the completion of the transaction, the insider now owns 6,157,665 shares of the company’s stock, valued at approximately $73,091,483.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Green Dot Stock Performance

Green Dot stock opened at $10.68 on Friday. Green Dot Co. has a 52 week low of $7.30 and a 52 week high of $13.54. The stock has a market capitalization of $568.02 million, a P/E ratio of -22.71 and a beta of 0.92. The stock has a fifty day moving average of $10.80 and a 200-day moving average of $9.84.

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

Institutional Trading of Green Dot

A number of hedge funds have recently added to or reduced their stakes in GDOT. nVerses Capital LLC acquired a new position in shares of Green Dot during the second quarter worth $25,000. Nisa Investment Advisors LLC increased its holdings in Green Dot by 162.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,602 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,609 shares in the last quarter. Headlands Technologies LLC raised its position in Green Dot by 89.2% in the first quarter. Headlands Technologies LLC now owns 2,743 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,293 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Green Dot by 98.3% during the first quarter. UMB Bank n.a. now owns 2,855 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,415 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Green Dot during the second quarter worth about $32,000. Institutional investors and hedge funds own 92.56% of the company’s stock.

Wall Street Analysts Forecast Growth

GDOT has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $11.00 target price on shares of Green Dot in a research report on Monday, July 22nd. Barclays boosted their price target on Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.50.

Green Dot Company 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.