Green Dot Co. (NYSE:GDOT) Shares Purchased by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC raised its position in Green Dot Co. (NYSE:GDOT) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,707 shares of the financial services provider’s stock after acquiring an additional 1,524 shares during the quarter. SummerHaven Investment Management LLC owned 0.07% of Green Dot worth $375,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GDOT. Nisa Investment Advisors LLC grew its holdings in Green Dot by 162.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,602 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 1,609 shares in the last quarter. CWM LLC grew its stake in shares of Green Dot by 39.2% during the second quarter. CWM LLC now owns 6,006 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 1,691 shares in the last quarter. SG Capital Management LLC purchased a new stake in shares of Green Dot during the first quarter worth about $4,254,000. Tidal Investments LLC acquired a new position in shares of Green Dot in the first quarter worth about $116,000. Finally, Kent Lake Capital LLC purchased a new position in Green Dot in the first quarter valued at about $7,464,000. Hedge funds and other institutional investors own 92.56% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GDOT shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $11.00 price objective on shares of Green Dot in a report on Monday, July 22nd. StockNews.com upgraded Green Dot from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Green Dot presently has a consensus rating of “Hold” and an average target price of $10.75.

Green Dot Trading Up 2.9 %

Green Dot stock traded up $0.31 during midday trading on Friday, reaching $11.06. 88,193 shares of the stock traded hands, compared to its average volume of 583,401. Green Dot Co. has a fifty-two week low of $7.30 and a fifty-two week high of $15.32. The firm has a market cap of $588.50 million, a price-to-earnings ratio of -22.87 and a beta of 0.96. The firm has a fifty day moving average price of $9.64 and a two-hundred day moving average price of $9.24.

Green Dot (NYSE:GDOT) last released its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Green Dot had a positive return on equity of 4.48% and a negative net margin of 1.60%. The company had revenue of $407.10 million for the quarter, compared to analysts’ expectations of $381.87 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. Analysts anticipate that Green Dot Co. will post 1.03 earnings per share for the current year.

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.