Texas Permanent School Fund cut its stake in shares of Green Dot Corporation (NYSE:GDOT) by 0.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 31,965 shares of the financial services provider’s stock after selling 306 shares during the period. Texas Permanent School Fund owned approximately 0.06% of Green Dot Corporation worth $1,232,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of GDOT. Daiwa Securities Group Inc. bought a new stake in Green Dot Corporation during the second quarter valued at about $108,000. Spark Investment Management LLC bought a new stake in Green Dot Corporation during the second quarter valued at about $2,080,000. Bowling Portfolio Management LLC bought a new stake in Green Dot Corporation during the second quarter valued at about $331,000. Strs Ohio boosted its stake in Green Dot Corporation by 3,828.6% in the second quarter. Strs Ohio now owns 27,500 shares of the financial services provider’s stock valued at $1,059,000 after buying an additional 26,800 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Green Dot Corporation by 2,342.2% in the second quarter. Acadian Asset Management LLC now owns 51,847 shares of the financial services provider’s stock valued at $1,997,000 after buying an additional 49,724 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Green Dot Corporation (NYSE:GDOT) opened at 46.82 on Friday. Green Dot Corporation has a 1-year low of $21.45 and a 1-year high of $47.55. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 39.81 and a beta of 1.06. The firm’s 50-day moving average is $40.98 and its 200 day moving average is $35.24.
Green Dot Corporation (NYSE:GDOT) last issued its earnings results on Tuesday, August 8th. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.31 by $0.16. The firm had revenue of $222.50 million during the quarter, compared to analysts’ expectations of $208.59 million. Green Dot Corporation had a return on equity of 12.13% and a net margin of 7.66%. Green Dot Corporation’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same period last year, the business earned $0.27 earnings per share. Equities analysts expect that Green Dot Corporation will post $2.05 EPS for the current fiscal year.
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Several research firms recently issued reports on GDOT. Zacks Investment Research raised shares of Green Dot Corporation from a “hold” rating to a “strong-buy” rating and set a $52.00 price target on the stock in a report on Monday. BidaskClub raised shares of Green Dot Corporation from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Cowen and Company reaffirmed a “hold” rating on shares of Green Dot Corporation in a report on Thursday, August 10th. Deutsche Bank AG upped their price target on shares of Green Dot Corporation from $37.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday, August 9th. Finally, Lake Street Capital raised shares of Green Dot Corporation from a “hold” rating to a “buy” rating and upped their price target for the company from $41.00 to $44.00 in a report on Wednesday, August 9th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $41.33.
In other Green Dot Corporation news, General Counsel John C. Ricci sold 3,686 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $35.97, for a total transaction of $132,585.42. Following the completion of the transaction, the general counsel now directly owns 90,032 shares in the company, valued at $3,238,451.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel John C. Ricci sold 15,043 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $36.12, for a total value of $543,353.16. Following the transaction, the general counsel now owns 90,032 shares of the company’s stock, valued at $3,251,955.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,956 shares of company stock valued at $6,079,245. 11.00% of the stock is owned by company insiders.
About Green Dot Corporation
Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.
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