Diversified Investment Strategies LLC reduced its stake in Green Dot Co. (NYSE:GDOT) by 36.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 92,105 shares of the financial services provider’s stock after selling 53,500 shares during the period. Green Dot makes up 7.3% of Diversified Investment Strategies LLC’s portfolio, making the stock its 2nd largest holding. Diversified Investment Strategies LLC owned approximately 0.18% of Green Dot worth $8,181,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GDOT. James Investment Research Inc. bought a new stake in shares of Green Dot in the 2nd quarter worth about $101,000. Bank of Montreal Can bought a new stake in shares of Green Dot in the 2nd quarter worth about $165,000. Everence Capital Management Inc. bought a new stake in shares of Green Dot in the 2nd quarter worth about $228,000. Adviser Investments LLC increased its holdings in shares of Green Dot by 361.8% in the 2nd quarter. Adviser Investments LLC now owns 3,450 shares of the financial services provider’s stock worth $253,000 after buying an additional 2,703 shares during the last quarter. Finally, Cynosure Advisors LLC bought a new stake in shares of Green Dot in the 2nd quarter worth about $280,000. Institutional investors own 84.33% of the company’s stock.
A number of analysts have recently weighed in on the stock. Craig Hallum restated a “buy” rating on shares of Green Dot in a report on Friday, September 14th. Loop Capital boosted their target price on shares of Green Dot to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. Zacks Investment Research downgraded shares of Green Dot from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Guggenheim restated a “buy” rating and issued a $88.00 target price on shares of Green Dot in a report on Thursday, August 9th. Finally, Jefferies Financial Group boosted their target price on shares of Green Dot from $89.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $83.00.
Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.63 by $0.11. The company had revenue of $258.30 million for the quarter, compared to the consensus estimate of $250.18 million. Green Dot had a net margin of 12.73% and a return on equity of 14.26%. The firm’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 EPS. As a group, equities analysts forecast that Green Dot Co. will post 2.4 EPS for the current fiscal year.
In other Green Dot news, COO Kuan Archer sold 9,589 shares of the business’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $83.47, for a total value of $800,393.83. Following the completion of the sale, the chief operating officer now directly owns 233,024 shares of the company’s stock, valued at approximately $19,450,513.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mark L. Shifke sold 10,000 shares of the business’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $75.12, for a total transaction of $751,200.00. Following the completion of the sale, the chief financial officer now directly owns 637,698 shares of the company’s stock, valued at $47,903,873.76. The disclosure for this sale can be found here. Insiders have sold a total of 345,335 shares of company stock worth $28,648,349 over the last quarter. 9.70% of the stock is currently owned by insiders.
About Green Dot
Green Dot Corporation, together with its subsidiaries, operates as a pro-consumer bank holding company that provides personal banking for the masses. It operates through two segments, Account Services and Processing, and Settlement Services. The company offers deposit as account programs, such reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer checking accounts, small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.
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